US analytics firm FICO has introduced its cloud-based platform in India, with leading banks such as HDFC Bank, Axis Bank, and AU Small Finance Bank opting for its services. FICO's platform aims to transform the banking sector by offering advanced decision-making and artificial intelligence capabilities, fostering innovation, and improving customer satisfaction.

“If we are looking at a 12-15% kind of an uptick in Nifty in the runup to this election, Bank Nifty can easily do better by 5 to 10 percentage points. When it comes to Bank Nifty and banking stocks, there is a massive room on the upside, though it is a little high beta. So I think it can move up by 20-25% very easily.”

HDFC Bank has decisively broken its downward sloping resistance trendline adjoining highs of July 3 and September 15, and formed bullish candlestick pattern with lower shadow on the daily scale.

“So the trips that were being planned for say June-July, have been preponed to December and the FIIs from all over the world descend upon India over the next month or so. In fact, over the next two weeks or so as they load up on India. So there is a preponement of roughly six months in their purchasing. It happily coincides with the top global interest rate cycle.”

The company also said that they have been closely monitoring the Stage-2 rural B2C segment and taking corrective actions, which has resulted in moderate growth in this segment.

The pivotal role in this anticipated upswing will be played by heavyweight contributors from the private banking sector, with notable participants such as HDFC Bank and ICICI Bank, he says

“Since midcaps have rallied almost 40% this year and largecaps have rallied 10%, largecap valuations are near historical range. In 2024, as the foreign fund inflow returns into emerging markets including India, the probability that largecaps will outperform is much greater. Next year, largecaps will do well and mid and smallcaps should also continue to do well. ”

RBI had sent show cause notice to both of these banks before taking the action.

The Reserve Bank of India (RBI) has imposed a penalty of Rs 10,000 each on Bank of America, N.A., and HDFC Bank Ltd for violations of certain norms. Bank of America was penalized for violating reporting requirements under the Liberalised Remittance Scheme of FEMA 1999.

The momentum also helped the stock to reclaim 50-DMA on the daily charts in seven trading sessions. The index broke down from the short-term moving average on November 16

Indian equities also rose after dovish commentary from a US Federal Reserve official elevated bets of rate cuts by as early as March 2024. Fed governor Christopher Waller flagged the possibility of lowering the interest rate in the months ahead if inflation continued to come down.

The index rose 111 points to close at 43,880. It hit an intraday high of 43,960 while on the downside it hit a low of 43,739. The Nifty50 rose 95 points to close at 19,889.

HDFC Bank, India's largest private lender, saw its employee turnover rate rise to 34% in the last fiscal year from 27.6% a year earlier. At Axis Bank, it climbed to nearly 35% from 31.6%. Meanwhile, Kotak Mahindra Bank's attrition surged to about 50%, with smaller peer Yes Bank in tow at 43%.

The company has already received a mandate to implement QR/Card Machines and soundbox for more than 7,000 gram panchayats in Andhra Pradesh, in collaboration with major banks such as HDFC Bank, SBI, IDFC First Bank, and others. A direct mandate has also been received from Uttar Pradesh and Goas state department for the deployment of card machines and soundbox.

HDFC Bank's board has approved the appointment of former NABARD Chairman Harsh Kumar Bhanwala's appointment as additional independent director. The board also gave its nod for appointing V Srinivasa Rangan as executive director for three years, pending shareholder approval. Bhanwala's tenure spans January 2024 to January 2027.

Despite the global challenges of high interest rates and geopolitical uncertainties, the economy remains resilient, buoyed by rising domestic demand and sectoral recovery. The outlook for H2 FY2023 and FY2024 looks positive, suggesting a resurgence in deals as market valuations stabilise. The financial health of the Indian companies is underscored by data from S&P Global Ratings, which projects a remarkable 50% increase in EBITDA by FY2024, while debt levels remain stable. This reflects a positive outlook for the corporate sector, demonstrating the strength of India's economy in the face of global adversity.

“In the banks, the loan growth continues to stay very healthy. We think margins have bottomed out and banks can give 15-20% earnings growth over the next two to three years and for some of these large banks, the profitability will continue to be strong and so we still like that space overall.”

"We add Coal India, Honasa, Eicher, NTPC, HDFC Bank and ICICI Pru Life at the cost of cash, Marico, Maruti, Power Grid," Mahesh Nandurkar of Jefferies said, adding that cash is being redeployed as key macro concerns of higher US yields, rising oil prices and near-term state election results have subsided. Maruti was replaced with Eicher because two-wheeler demand is expected to grow at a faster pace than passenger vehicles over the next 2 years.

From the Sensex pack, NTPC, Power Grid, M&M, UltraTech Cement, and Sun Pharma opened higher, while HUL, HCL Tech, Tata Motors, and Bharti Airtel opened lower.

From Sensex pack, Infosys, NTPC, Power Grid, and Titan closed higher, while IndusInd Bank, Kotak Bank, JSW Steel, M&M, and HDFC Bank ended lower.

These banks remain well-capitalised and their profit pool will not face pressure, say analysts

“As the tone of the market is sideways, defensive stocks are outperforming and there is the traction which we can see. So, Glaxo can be bought at Rs 1640; Rs 1540 should be the stop loss and Rs 1,745 to 1,850 should be the target. The second one, Glenmark, is again from defensive space. It can be bought at Rs 793; Rs 740 should be the stop loss and Rs 900 to 1,000 should be the target.”

Sales/EBITDA/PBT/PAT growth for Nifty constituents was marginally better than our estimates at +5%/+21%/+27%/+28% YoY in 2QFY24.

#NIFTYBANK Bohot sare log Yha pe trap ho chuke hai guyss jese he trendline ka breakout aya bohot sare loG long postion banake baith gye hong

Of the top 10 stocks that saw the highest increase in retail shareholders in the last one quarter, seven of them are part of the midcap and smallcap segments, and four of them belong to the public sector space, data by Prime Database showed.

Among the Sensex stocks, SBI, Bajaj Finance, Axis Bank, Bajaj Finserv, and HDFC Bank opened with cuts, while Asian Paints, M&M, Tata Motors, UltraTech Cement, and Maruti opened with gains.

Kotak notes the market's anticipation of a shift in US policy rates post the Fed's 'higher-for-longer' stance. Hopes for rate cuts due to soft economic data and lower inflation might affect earnings and growth expectations negatively.

After the rebalance, the number of domestic stocks on the Standard Index will rise to 131, and India's weight on it could rise to 16.3%, up from the current 15.9%.

The Reserve Bank of India has directed Bajaj Finance Limited to stop the sanction and disbursal of loans under two of its lending products – ‘eCOM and ‘Insta EMI Card with immediate effect as the non-banking financial company did not comply with certain norms.

“Today is a perfect occasion to catch the bears on the wrong side. I would say that this is just the start. I had told you 19,700 is coming within a few days of Diwali. 20,000 will be here by the end of this month. If I could bet on something, it would be the Bank Nifty”

Several major stocks demonstrated exceptional strength by surpassing their 20-day Simple Moving Average (SMA) on November 12.

In the given circumstance and current scenario, it is more or less likely that the present government will have a higher chance at winning peoples mandate to form the Government, says Santosh Joseph of Refolio.

Historically, the shift in bets from private to public sector banks has been a valuation play. But over the last few years, public sector banks have seen a structural change in their financial health, with a significant improvement in asset quality, strong credit growth, robust balance sheets, and all-time high profits.

A report released by Elevation Capital shows that together the niche market and the mass market will have a revenue pool of more than $170 billion by 2030.

The development comes within a fortnight of the lenders issuing a legal notice to Iyer for putting on the block inventories of Future Retail without seeking their approval. At a voting held on September 30, majority lenders rejected Space Mantra's '550-crore plan for Kishore Biyani-promoted Future Retail. Despite five weeks having passed, Iyer has not filed an application for liquidation before the National Company Law Tribunal (NCLT).

As per Moneycontrol’s Analyst Call Tracker for October, analysts did not share maximum optimism with the India’s largest private sector lender

Many major banks and housing finance companies have introduced festive offers that make it cheaper to get a home loan now. If you are planning to take a home loan to buy your dream house, this may be the best time to apply for a loan. Check reduced interest rates and latest offers on home loans by SBI, HDFC Bank, PNB, Canara Bank, Bank of Baroda, LIC Housing Finance, and others. Calculate the overall cost of your home loan which includes processing fees, documentation charges, and others before finalising your home loan.

The sale of non-convertible debentures (NCD) will take place through the electronic book mechanism on the BSE's bond platform on November 9 from 10:30-11:30 am, according to an information document accessed by ET. The issue has a base size of ₹10,000 crore and a green shoe option of ₹10,000 crore.

Nifty on Tuesday ended 5 points lower to form a Doji candle on the daily chart. The larger degree of lower tops and bottoms is intact as per daily timeframe chart and currently, Nifty is moving up towards the new lower top formation of the sequence, analysts say.

" If you want to play, the banking sector is a proxy play for economic growth. Yes, these are good candidates. So on a down day, when you feel that the banking sector has sort of underperformed the overall market, these are good times to build definitive and gradual positions in these businesses."

“I have always had the private sector banks in my Asian portfolio. This Indian portfolio was created more recently. But in my Asia ex-Japan portfolio which runs the greed and fear portfolio which I have run since 2002, the one sector I always had representation since 2002 is Indian private sector banks.”

"The technical chart setup for Idea stock appears to be bullish. The stock has exceeded its previous five-week high with substantial trading volumes. It continues to be in a "buy on dip" mode, with support levels around the 12.6-12 range. The potential upside targets for Idea stock are at 16 and 17, indicating a positive outlook for the stock."

The IPO is priced in the range of Rs 57-60. Investors can bid for a minimum of 250 shares and in multiples thereafter.

"Leaving aside the endowment bias, we reckon that a simplistic platform like smallcase is one of the best ways to encourage the investing culture in India. You see, in todays day and age, simplicity is all one looks for given the clutter in the market. So, there is no donut that smallcase has been one of the best technological innovations in Indian markets. "

The latest Reserve Bank of India (RBI) data showed that the outstanding stock of central government bonds, excluding special securities, was at ₹100.2 lakh crore. In 2017, the figure was around the ₹50-lakh-crore mark. The surge since then reflects the huge increase in government borrowing from 2020 onward, when the Centre's bond issuances in a single financial year crossed the ₹10-lakh-crore mark for the first time.