Since November 2022, the stock has remained in pressure and is currently oscillating around a 20-month EMA. The stock may witness near-term volatility, as its quarterly result is scheduled on 24th January 2023.

Gross bad loans as a measure of total loans -- a measure of asset quality -- improved to 13.82% in the quarter ended Dec.31, from 16.51% in the previous quarter. The lender said last quarter it expected the figure to come down to 12% by the end of this fiscal year.

Asset quality improved for the quarter with the gross non-performing assets as a percentage of gross advances falling 269 bps sequentially to 13.82 percent and net NPA dropped 8 bps QoQ to 1.07 percent

Oil-to-telecom conglomerate Reliance Industries Ltd's net profit fell 15% to Rs 15,792 crore in the December quarter, while revenue from operations rose 15% to Rs 2.20 lakh crore. The net profit was below the estimates. The weak performance in the oil-to-chemicals (O2C) segment was partly offset by growth in the consumer businesses.

A key positive would be a much-needed increase in FDI limits for PSU banks from the current 20%, which will help set the stage for potentially mobilising a large divestment pool, while also being aligned with intended reforms in the sector.

The company will offer partly paid shares to retail investors at a discount of ₹64 apiece to the issue price. Investors must pay 50% of the offer price at the time of placing bids in the FPO, and the remaining 50% on one or more subsequent calls, as decided by the board.

While some voices state that it is time for the government to moderate its FY24 target given that it has missed its targets the last 3 years, it is likely the Govt would continue to set an aggressive target given the background of growth push with government spending.

In his application to the National Company Law Tribunal (NCLT), CCCL promoter R Sarabeswar has offered to pay ₹167 crore in cash and also promised to pay another ₹165 crore to make up for any invoked government guarantees and money received from arbitration claims from the government in the future.

"Where there is uncertainty, the best thing is not to step into those muddled waters. The Indian economy has got substantial leverage plays which can really pan out across the length and breadth of the country and across the spectrum of sectoral allocations. I believe one should keep a close tab on this segment but not to venture until the scenario clears completely."

“Depending upon different transactions, the due diligence process time is different. In the case iof IDBI Bank also, it will depend much on how the things pan out in the due diligence virtual data room and what additional information is required. Usually it would be three to four months at least.”

With the appointment of IDBI Bank's J Samuel Joseph last month, NaBFID now has all three deputy managing directors (DMDs) in place. Joseph will be in charge of lending & project finance for the financial institution. Former Union Bank of India executives Monika Kalia and BS Venkatesha have already taken over as the chief financial officer and chief risk officer, respectively.

After opening with an upside gap of 91 points, the market shifted into further upside with range bound movement in the early- to mid-part of the session. Intraday weakness of mid-part has been used as a buy on dips opportunity.

The government and LIC together are looking to sell 60.72 percent in IDBI Bank and had invited bids from potential buyers in October. The last date for submitting Expression of Interest (EoI) or preliminary bids was set at December 16, which was later extended to January 7.

​So as long as these companies realise that, as long as they do not think that they will again get investments at very high valuations I think they should do better. Secondly, stating that we will make profits and actually making profits are two different things.

The Nifty Realty index was trading 0.68 per cent up at 428.75.

The Nifty Pharma index was trading 1.33 per cent up at 12823.35.

The counter has witnessed a breakout of inverse head & shoulder on the weekly timeframe. But it has given a meaningful correction to retest the previous breakout level of Rs 108. Now it is starting the next leg of a rally towards Rs 65.

SEBI had given its approval for reclassification of the government's shareholding in the bank as 'public' after its stake sale.

PFC stock has seen a strong build-up of long positions in the derivative segment. Since the expiry of the December derivative series, the stock has gained 14% and hit an over-five-year high of Rs 160.80 on Friday. If the stock manages to cross Rs 170 and trades above that level, it will become eligible to enter into the MSCI index.

Further, the government has requested Sebi to treat its residual stake in IDBI Bank as a financial investment since it would not exercise any control over the bank or have any special rights. The government will also not have any representation on the bank's board.

While IDBI Bank is in the process of divestment, with the government having already invited bids for strategic sale, the completion of the same in the current fiscal year remains doubtful.

The government holds over 45 percent stake in the bank. After the stake sale, its shareholding will be come down to 15 percent

"Sundararaman Ramamurthy has assumed charge as Managing Director and Chief Executive Officer of BSE," the exchange said in a release on Wednesday.

The government's voting rights in IDBI Bank must be capped at 15 percent following the stake sale, the market regulator noted.

India's market regulator has allowed the government's shareholding in IDBI Bank to be reclassified as "public" after its stake sale on condition that its voting rights do not exceed 15%, the lender said on Thursday.The government, with a more than 45% stake in IDBI Bank, is currently classified as a co-promoter of the lender.

"There was no other bidder so one can now say Ares has won the bid. Banks are still working on internal processes to take approvals to give the go-ahead for the takeover by Acre, and the process will take a few more days," said a person familiar with the exercise.

The year 2022 has been both challenging and rewarding for investors. Throughout the year, and especially in December, investors have faced excessive volatility, with the market witnessing significant spikes and dips on the back of a number of positive and negative cues.

A Petition has been filed against the Company under Section 9 of the IBC by the IPRS, an Operational Creditor, before the NCLT, Mumbai Bench for initiation of Corporate Insolvency Resolution Process against the company, claiming a debt and default of Rs 211.41 crore towards royalty payable for utilization of 'literary and musical works'," ZEEL said.

Many times there is a demand for the stock as well, so you cannot say that the stock will not be available. But as I said that we will always keep in mind the interest of minority shareholders and will advise all the departments as well as the CPSEs to keep on adding value to their company, look at their performance and disinvestment strategy.

Rising interest rates and a fresh bout of Covid-19 infections across the world are biggest risks to equity markets, say poll participants.

INDIA-BANKS/Indian private banks' bond buys hit near three-yr high in Dec

The recent resurgence in Covid infections - against a backdrop of tightening monetary policies and hawkish commentaries by global central banks that could potentially trigger a global recession has dragged India's benchmark indices down by nearly 5% after hitting their all-time highs on December 1.

"The policymakers are concerned over inflation, which means more hikes are in the offing," said Debendra Kumar Dash, senior vice president, treasury, at AU Small Finance Bank.

"The policymakers are concerned over inflation, which means more hikes are in the offing," said Debendra Kumar Dash, senior vice president, treasury, at AU Small Finance Bank.

The federal finance ministry is looking to relax a tax clause, which would require the buyer of IDBI Bank to pay additional tax if the share price rises post the final bid, one of the officials said.

The government may revive the proposal to sell stakes in more PSU banks in the next year’s Budget along with the divestment of BPCL which got stalled in the current fiscal

So you need to focus on companies which are in verticals where there is a lesser chance of spending cuts. It could be automobiles, design led, technology stocks and I think that is where the opportunities are in the IT sector.

Technically, after a breakout above Rs 155, positive momentum intensified. The promising price-volume breakout formation indicates a continuation of the uptrend in the near term. We are of the view that the uptrend texture is likely to continue and 195-205 would be the next resistance zone for the bulls.

Reliance Industries's arm Reliance Retail on announced the launch of its consumer packaged goods brand 'Independence' in Gujarat, with plans for national rollout as part of its ambition in the FMCG segment.

An offer by ACRE to the country's largest life insurer had triggered a Swiss challenge auction, ET reported on November 14. ACRE, an ARC backed by Ares SSG Capital, had offered about 22% recovery on LIC's admitted claims.

“Among smallcaps, we like EMI Ltd. It is another stock based in Hyderabad and Telangana area and they also have a good presence in Delhi. We believe that that stock should perform well and our target on that stock is Rs 180-200 in the next two to three years. You are looking at a more than 100% run from the current levels.”

Lenders led by IDBI Bank had invited expressions of interest from asset reconstruction companies to take over the debt of NFC after attempts to initiate an insolvency process against the company were stonewalled by the promoter.

The last date to submit bids is now January 7 against previously fixed December 16.

In the last one month alone, Punjab and Sind Bank is up nearly 71%, UCO Bank 55%, Union Bank of India 51%, Bank of India (BoI) 42% and Central Bank of India 39.5%. On a year-to-date (YTD) basis, Bank of Baroda (BoB), Indian Bank and Union Bank of India have more than doubled investor wealth.

I think we keep getting this kind of block deals in the market and no doubt the size over here is a bit higher. But I think if the pricing is good there is enough appetite amongst the institutional investors and also some of the HNIs.

​​"This is in line with the company's proactive approach to asset liability management where we maintain high liquidity buffers and create pools of ear-marked funds to pre-pay chunky borrowings coming due.

Yes Bank was also in action, rising third of a percent to Rs 17.50, the highest closing level since September 12 this year and formed bullish candle on the daily charts with above average volumes. It has seen a breakout of downward sloping resistance trendline adjoining September 9 and November 28 this year.