"Companies like Persistent, LTIMindtree, Coforge have delivered a decent set and the management commentaries have been very optimistic. They do not believe that pricing issues will come through and order wins will continue. As EBITDA margins start normalising after the first half where wage hikes and the rest in terms of an increased allocation of operating expenses largely come through on the balance sheet, numbers should probably remain extremely stable even in the second half."

A nominee is a person that an account holder designates to claim the money in the savings account after the original owner of the account dies. Without a nominee, the process of transferring the funds in the absence of the accountholder is lengthy and cumbersome. How to check if you have added a nominee or how to add a nominee

On the technical charts, the 200-day moving average of the stock stood at Rs 176.86.

Geojit is bullish on Bank of Baroda has recommended buy rating on the stock with a target price of Rs 217 in its research report dated August 17, 2023.

The Delhi High Court has ruled that banks cannot issue Look Out Circulars (LOCs) as a means to recover money. The court stated that LOCs cannot be opened based on the mere possibility of a person being accused in a criminal case, as this infringes on the individual's right to travel abroad, which is a fundamental right.

Patel Engineering, over the years, has evolved as a construction company specialising in the hydropower generation and irrigation segments.

Bank of Baroda has withdrawn an e-auction notice for Bollywood actor and BJP MP Sunny Deol's Sunny Villa property due to technical issues. The Bank of Baroda subsequently announced that the borrower had approached the bank to settle the outstanding dues. The lender had attached the property as security.

The 39-year-old company controlled by the Mandhana family started availing credit facilities from the Bank of Baroda in 2008, but the account was declared a non-performing asset on December 31, 2016.

With the Reserve Bank of India (RBI) mandating banks to maintain an incremental CRR of 110% of net demand and time liabilities and the resulting squeeze on liquidity, CD issues once again increased. Moreover, deposit growth at 13.2% is still lagging behind credit growth, which was 14.2% as of August.

Public sector lender, Canara Bank has hiked its MCLR rates across tenors by up to five basis points. Further the Repo Linked Lending Rate (RLLR) was also revised and now stood at 9.25% with effect from August 12, 2023. Read below to know what are the new rates.

The RBI has kept rates unchanged since raising the benchmark repo rate to 6.5% in February. Despite a slight decrease in CPI-based retail inflation in August, it remains above the RBI's target of 6%. Experts also highlight uncertainties surrounding crop production and anticipate the RBI's cautious approach amid a cloudy outlook for food inflation and elevated crude oil prices.

According to an ET Poll of 15 respondents, at the end of its August 8-10 meeting, the RBI's Monetary Policy Committee is seen keeping the repo rate unchanged at 6.50% and maintaining its prevailing stance of withdrawal of accommodation.

India is planning to establish its own international financing messaging system to assist with the government's goal of internationalising the Indian currency, according to insiders. An expert committee is exploring options and is aiming to issue findings by August. State Bank of India, Bank of Baroda and Central Bank of India are among the banks being consulted.

Net profit increased to Rs 4,070 crore in the quarter ended June 2023 from Rs 2,168 crore a year ago, largely due to a 24% increase in net interest income (NII) supported by a brisk growth in retail loans, which grew by 25%. Fee income increased 18% year-on-year to Rs 1,507 crore in the quarter.

The agency highlighted that BOB's IDR is support-driven with GSR is the same as India's sovereign rating (BBB-/Stable) and above the VR.

However, Rajasthan was not the only state to record high inflation, as three others, Haryana, Telangana and Odisha, also noted 8%+ numbers.

Bank of Baroda stock has given a return of 12.13 percent over the last six months.

Since it is the beginning of the new series, Options data is scattered at various far strikes in the monthly series. On the weekly front, the maximum Call OI is placed at 19800 and then towards 20000 strikes.

Aircraft leasing companies have opposed including the lenders of Go Airlines as a party to their plea for deregistration of leased planes to the carrier, claiming that the lenders are not necessary parties in the case and could put their interests ahead of lessors. Eight leasing firms are seeking deregistration of their aircraft, while the airline's committee of creditors have sought to be made a party to the case filed by lessors, claiming it is the ultimate decision-making authority.

The repo rate, the key policy rate at which the RBI lends to the banks, was last increased in February 2023 by 25 basis points (bps). The RBI had kept the rate unchanged in April and June meetings. An ET Poll of 15 respondents had predicted that the repo rate will be kept unchanged at 6.50 per cent with retention of withdrawal of accommodation stance.

Data collated by ET showed net interest margins (NIM) for banks have fallen between 10-30 basis points on average between the quarter ended March and June 2023. Only seven out of the 21 banks that have released results so far have managed to hold on to or improve margins compared to March.

Go First, the first Indian airline to file for voluntary insolvency proceedings, is reaching out to asset reconstruction companies and distressed debt funds for short-term priority funding, focusing on alternative sources of funds to ensure revival is not impacted by procedural issues. Lenders, Bank of Baroda and Central Bank of India, have agreed in principle to lend INR 450 crore, which would come at a 20% interest rate.

‘Secrets of Penthouse, the four-episode limited docuseries is scheduled to premiere over two consecutive days, on September 4th and 5th, offering viewers an immersive journey into the secrets and controversies that shrouded Bob Guccione's life.

High attrition rates in private sector banks has increased the appeal of public sector banks (PSBs) for job seekers. HDFC Bank, Axis Bank and Kotak Mahindra Bank have all recorded attrition rates between 34% and 50%, whereas PSBs such as State Bank of India, Bank of Baroda, Punjab National Bank, and Canara Bank have experienced attrition rates of less than 5%.

As of 30-Jun-2023, promoters held 63.97 per cent stake in the company, while FIIs held 12.29 per cent and domestic institutional investors had 9.82 per cent.

The gross non-performing assets of the bank declined to 3.51 percent as compared with 6.26 percent last year.

Bank of Baroda stock has given a return of 13.88 percent over the last six months

Total income for the quarter was Rs 3,125 crore, up 25% y-o-y, aided by growth in asset book, a release by the NBFC said. Disbursements at Rs 12,165 crore were higher by 28% y-o-y. Loan book increased sequentially by 4.8% to Rs 86,732 crore.

SBI has actually broken down. It should not have traded below 563 and it has traded below it. And it was pretty obvious to me that the move from the March lows was only a corrective move.

​Now, 19,500 is one level which we are keeping an eye on, in case this is navigated safely in the next couple of days we may very well be headed for 19,800 and possibly 20,000 by the end of this month as well.

We are not highly concerned about the increase in credit growth yet as the print is near the long term average of 15-16% and concerns about a slowdown in the real economy has not yet translated into slowdown in loans.

On the technical charts, the RSI of the stock stood at 44.53.

India's goods and services tax (GST) increased by 11% in August to ₹1.59 lakh crore, maintaining strong growth. Other high-frequency indicators for August, including the S&P Global India Manufacturing Purchasing Managers' Index (PMI) and car sales, also showed positive signs for the economy. The demand for aviation turbine fuel (ATF) rose by 9.5% year-on-year, and the Unified Payments Interface (UPI) crossed 10 billion transactions for the first time in August.

The figure stood at Rs 2,168 crore in the same period last fiscal.

An ET analysis found that 12 of the 22 manufacturing firms captured in the index of industrial production were still operating at lower levels than during the pre-pandemic period. “It is becoming progressively clear that notwithstanding some high volatile growth numbers, it is not broad-based. Deficiency in spending is manifest here,” said Madan Sabnavis, chief economist, Bank of Baroda.

The Reserve Bank of India (RBI) is collaborating with lenders to enhance the popularity of its central bank digital currency (CBDC), the e-rupee. Features being considered include enabling digital rupee transactions offline and linking the e-rupee to India's Unified Payments Interface (UPI). The RBI has urged banks to make the e-rupee interoperable with UPI through a QR code.

​So one should keep a buy approach, 19,700 now continues to be a very strong support for the market. So as long as we sustain above this level, we expect the rally to continue over 20,000 on the upside and 20,050.

Return to office and a possible 'lipstick effect' might be contributing to higher inflation in beauty products and services. Prices of beauty products and services grew at 6.3% on average in the April-June period compared to 6.5% in FY23, according to official data.

While the continuation of government capex (both centre and states) in July led to a strong performance in steel and cement sectors, economists noted that the growth in cement and electricity sector, despite seasonal rains, indicated a progression of economic activity.

The number of freelance projects on gig platform Flexing It rose 25% in the January-June period from a year earlier. The data was shared exclusively by Flexing It with ET. A separate survey done exclusively for ET by executive search firm Ciel HR Services at 400 large, medium and small companies across sectors showed that the adoption of gig workers rose to 55% of organisations in the June quarter from 30% in the same period a year ago.

The meeting was attended by the top officials of 21 banks which included the State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, Union Bank of India, Bank of India and Central Bank of India, said the official statement.

A total of 367,533 shares changed hands on the counter till 01:15PM (IST)

Now you don't have to carry your debit cards to withdraw your cash from an Automated teller machine (ATM). According to the Reserve Bank of India (RBI) last year's notice, cardholders are allowed to have interoperable cardless cash withdrawals across all bank ATMs in the country.

A total of 426,504 shares changed hands on the counter till 12:32PM (IST)

A vegetable price-driven surge in the headline Consumer Price Index could increase the policy trade-offs and risks delaying the first rate cut, say economists. If prices remain high, RBI may not go for a rate cut in early 2024, they say

Go First, the grounded Indian airline, has called for expressions of interest (EoI) from potential buyers. The deadline for submission is August 9, 2023. The resolution professional for the firm said a list of the RPs will be revealed on August 19. Go First filed for voluntary insolvency proceedings in May, citing a cash crunch, and suspended flight operations. The airline has proposed a revival plan to the aviation safety watchdog and is awaiting a special safety audit report, which is due this week.

Promoter ML Mittal has told State Bank of India, Exim Bank, Union Bank of India and Bank of Baroda that the company will buy out the lenders' CCPS ahead of the deadline.

India's core sector growth accelerated to 8.2% in June, the fastest in five months, as a capital expenditure push by the central and state governments supported expansion in cement and steel sectors, while energy-related products witnessed improvements.

The BSE Bankex showed positive momentum, gaining 0.47% and reaching 50,122.15. HDFC Bank played a significant role in driving the index higher, followed by State Bank of India, IndusInd Bank, Axis Bank, and ICICI Bank. These top-performing stocks showcased the resilience of the banking sector. However, Kotak Mahindra Bank, Bank of Baroda, Federal Bank, and AU Small Finance Bank experienced declines, affecting the overall performance of the index. Investors should monitor these stocks for long-term investment potential.

​Names like your PNB, Bank of Baroda, Union Bank, all of these are participating. And if you recall, the earlier run-up in the Bank Nifty was also led by PSU banks. And it is these PSU banks which start the rally and then the rally trickles down to the larger private sector banks, which leads the Bank Nifty higher.

The late arrival of monsoon in India and shrinking sowing areas for rice and pulses could lead to a hike in food prices, potentially keeping the Reserve Bank of India (RBI) on hold for longer than expected. Rice accounts for 4.4% of the consumer price index (CPI) basket, and tur dal has a 0.8% weight in retail inflation. A deficient monsoon could push food inflation up by 50-60 basis points, according to economists.

“I would not really want to brush all NBFCs in a broad stroke and say that banks will be worse off compared to NBFCs in a falling rate regime. Banks still have a decent runway to go. Buy some of the NBFCs which are doing a good job in either their credit segments or credit quality will have some advantage of falling cost of deposits.”

The stock traded at a P/E multiple of 6.55, while the price-to-book value ratio stood at 0.83.

The Mahila Samman Savings Certificate, a small savings scheme for women and girls, was introduced by Union Finance Minister Nirmala Sitharaman in the Union Budget 2023–24.

On the weekly options front, the maximum Call OI is placed at 19,500 and then towards 19,700 strikes while the maximum Put OI is placed at 19400 and then towards 19,500 strikes.

"We expect banks under coverage to report nearly 60% on-year earnings growth led by 35% year-on-year operating profit growth and 20% YoY decline in provisions," said MB Mahesh, executive director at Kotak Securities. "We expect solid net interest income growth at 22% on the back of 16% YoY loan growth. We don't expect discussions on asset quality to emerge this quarter as well, as the portfolio appears to be holding up well across banks and product portfolios."

The number of open positions closed with 272,000 in July, up from 230,000 in June, according to data put together by specialist staffing firm Xpheno. Companies both in the technology and non-tech space put out more vacancies in July, with the non-tech cohort continuing its domination in the white-collar job market for the 10th month in a row, contributing 62% to the total openings with a volume growth of 10% month-on-month.

In an internal circular issued earlier this week, the bank noted that some frauds related to high-value cheques were reported and that, going forward, it will discontinue the practise of taking confirmation of high value cheques from the base branch through email or fax.

Several stocks in the S&P BSE 500 index, including Angel One, AstraZeneca Pharma, and Bajaj Finance, achieved new 52-week highs, reflecting the resilience and strength of these companies in challenging market conditions. Other notable stocks that reached new highs include Bank of Baroda, Can Fin Homes, and Cholamandalam Financial Holdings. The data was sourced from BSE at 12.30 pm, and updates from real-time data might come with a lag. The below data also pertains only to the time at which it was taken.

Bank of Baroda shares climbed 4.6 percent to Rs 199.10, the highest closing level since August 21, 2015, and formed long bullish candlestick pattern on the daily timeframe for yet another session. The stock has made higher high, higher low formation, with above average volumes.

IIFL Finance, the non-banking finance arm of IIFL, has raised $175 million through a three-year external commercial borrowing (ECB) from lenders including HSBC and Bank of Baroda. The loan, priced at SOFR +200 basis points, will be used for onward lending purposes. $75 million was raised from HSBC and $50 million from Bank of Baroda, with the remaining amount secured from other lenders. IIFL Finance aims to reduce its cost of borrowing and diversify its borrowing sources with these funds.

However, experts are of the view that as long as the stock holds above the neckline of the rounding bottom breakout placed at around Rs 197 level, bulls should be able to take control.

Sources on Wednesday said DGCA will examine documents submitted by Go First related to the revival plan and will also conduct an audit on operational preparedness before allowing the carrier to restart operations.

After front-loading tax devolution and funds for capital expenditure to states, the finance ministry is keeping a close watch on the utilisation of the funds by them, as it believes productive spending should not be curbed at any cost, said a senior official.

Before starting commercial scheduled flights, the airline will operate military charters to Leh and Thois. The airline had won the bid from the Ministry of Defence to operate most of those flights. The regulator which did a safety audit of the airlines preparedness has truncated its original plan approving it to operate 15 aircraft with 114 flights daily. The airline, grounded since May, had sought approval to restart business with 22 aircraft

The irregular rainfall patterns in India have resulted in lower 'kharif' crop sowing, which is likely to lead to higher inflation in the near future, according to Bank of Baroda's Economics research department. While the nationwide rainfall has been 6% above the long-period average (LPA) until 30 July, the eastern and northeastern regions had less precipitation and the northwest recorded more than usual.