REC, Coal India among 5 BSE PSU stocks which hit 52-week high on Wednesday
September 27, 2023, stands as a testament to the strength and resilience of BSE PSU stocks, reaffirming their role as key players in India's economic growth story.
RBI imposes penalty on SBI, Indian Bank, Punjab & Sind Bank
A penalty of Rs 1.3 crore has been imposed on the State Bank of India for non-compliance with certain directions issued by the RBI on 'Loans and Advances - Statutory and Other Restrictions' and 'Guidelines on Management of Intra-Group Transactions and Exposures', RBI said in a statement. In another release, the RBI said a penalty of Rs 1.62 crore has been imposed on Indian Bank for contravention of certain directions on 'Loans and Advances - Statutory and Other Restrictions', KYC, and 'Reserve Bank of India (Interest Rate on Deposits) Directions, 2016'.
Breakout Stocks: How Gujarat Ambuja and Indian Bank are looking on charts for Monday’s trade
Stocks that were in focus include names like Gujarat Ambuja, which rose 6%, Berger Paints closed with gains of more than 6% to hit a fresh 52-week high and Indian Bank, which closed with gains of about 4% to hit a fresh record high on Friday.
Stocks to buy today: Concor, Indian Bank among top 8 trading ideas for 21 September
India VIX was up by 2.70% from 10.83 to 11.13 levels on Wednesday. Volatility was on the rise and comforted the bears to hit for a profit booking decline.
Private asset reconstruction companies (ARCs) in India are now on an equal footing with the government-owned bad bank NARCL. This comes after private ARCs sought clarification on how to compute the net present value (NPV) based on the initial bid of ₹235.9 crore in the Dharani Sugars case. Banks responded by stating that the comparison value remains ₹235.9 crore, regardless of the payment structure. This allows private ARCs to value their bid at ₹235.9 crore on an all-cash basis or ₹331 crore using a cash to security receipt structure.
Indian Bank unveils 'IB SAATHI' to enhance banking services
Indian Bank has introduced the 'IB SAATHI' initiative, which aims to provide an integrated ecosystem for all stakeholders in the financial sector through the business correspondent route. The initiative will offer simplified delivery of services, including both basic and value-added offerings. Indian Bank plans to deploy around 5,000 banking correspondents by March 2024 to enhance accessibility and reach.
Maruti Suzuki partners with Indian Bank to provide financing solutions to dealers
"This alliance with Indian Bank will strengthen relationships with dealer partners and ensure a seamless car buying experience for customers," Maruti Suzuki India Senior Executive Officer, Marketing & Sales, Shashank Srivastava, said.
Rare Asset Reconstruction Company to acquire Chennai-based Rainbow Papers' debt
Bank of India (BoI) was the last bank to give its consent for the transfer of the debt to Rare late last month, following which the process for the transfer of the debt has been initiated, three people familiar with the development said.
Indian Bank collaborates with IBM to deploy new front-end banking apps
Indian Bank has partnered with IBM to improve its infrastructure and enhance scalability and agility. The bank will consolidate its front branch servers under its 'Project Paradise' initiative, aiming to achieve better manageability and availability. The collaboration with IBM will accelerate the bank's modernization path and provide a flexible and secure infrastructure for deploying new front-end banking applications.
Indian Bank partners with NY's IBM to deploy compute infrastructure
IBM has partnered with the Indian Bank to deploy new front-end banking applications and provide safe compute infrastructure. The public sector bank aims to consolidate its Front Branch Servers and run CBS workloads on IBM Power servers, reducing costs and improving resource utilization.
Hot Stocks: Brokerage view on UPL, RIL, Piramal Enterprises and Indian Bank
The stress test suggests that the balance sheet remains protected despite headwinds. LatAm is a potential catalyst and the global CP business is much undervalued.
IRFC, Kalyan Jewellers among 10 overbought stocks with RSI above 70
This article explores the significance of the overbought zone, leveraging data from StockEdge and curated selections by ETMarkets. Uncover insights on overbought stocks, their implications, and the importance of assessing stock movements for informed investment decisions.
Indian Bank, Poonawala Fincorp among 10 overbought stocks with RSI above 70
In this article, we delve into the world of stock market analysis, focusing on the Relative Strength Index (RSI) and its pivotal role in understanding stock movements. We explore the recent trends in RSI for a handpicked selection of 10 stocks that have entered the overbought zone. These insights, derived from a recent screener output, offer potential investors valuable information to aid in their decision-making process.
After Zomato, Gland Pharma, what could be the next turnaround story? Rahul Shah answers
"In PSU bank space, Canara Bank reported stronger numbers. That should do well. From the Covid lows, the stock has already done two-and-a-half, three times. The next is Bank of Baroda. In the large names beyond SBI, these two should do well. Thirdly, Jammu & Kashmir Bank stock was a doubler in a year, year-and-a-half, similar to most of the PSU names. "
Open for all kinds of opportunities where our risk-rewards match: SL Jain, Indian Bank
At the beginning of the year we said that last year margin was 3.41% and we should be able to protect our margin. We have ended with 3.61% in first quarter.
Indian Bank Q1 Results: Net profit rises 41% YoY to Rs 1,709 crore
On the asset quality side, the bank witnessed improvement with the gross Non Performing Assets (NPAs) easing to 5.47 per cent of the gross advances by June 2023 from 8.13 per cent a year ago.
Rs 712 crore fraud, 15,000 Indians cheated: How the Chinese fraudsters operated
Hyderabad Police has busted a Rs 712 crore investment fraud by Dubai-based Chinese operators and arrested nine people in this connection. The nine accused from Mumbai, Lucknow, Gujarat and Hyderabad were suspected to have links with fraudsters from Dubai and China.
SBI likely to raise up to Rs 10,000 cr via infra bonds
In January, SBI had issued infrastructure bonds with a 15-year maturity, marking the first time that an Indian bank had sold such bonds in that maturity bracket.
Overbought stocks: MTAR Technologies, Keystone Realtors among 10 stocks trading above RSI of 70
Over 50 stocks have been identified as overbought by the Relative Strength Index (RSI), a technical analysis tool used by investors to gauge market trends. When the RSI rises above 70, the stock may be overbought, suggesting a potential correction. Data from July 13 shows 10 stocks in the overbought zone, including Tejas Networks, Indian Bank
SBI raises Rs 3,101 cr via AT-1 bonds at coupon of 8.10%
Perpetual bonds, which include AT-1 bonds, are considered riskier than other debt instruments, as they can be written down before equity, leading to losses for investors. Investors in YES Banks AT-1 bonds suffered such losses in 2020, while more recently, at a global level, perpetual bonds were written off following Credit Suisses bailout.
Is the best over for Titan? What to expect from Reliance Retail? Pankaj Pandey answers
“We are already seeing Reliance Retail being a beneficiary of the electrolyzer or new segments where they are looking to play the entire spectrum. So triggers are in place for the stock to do well. Valuation of Reliance Retail is a bit negative according to us.”
72% of Nifty stocks nearing or in overbought zone: Anand James
About 72% of Nifty50 stocks are either nearing or in the overbought region, with IT, Auto and Banks being the top 3 sectors by weightage in Nifty that are overbought. However, overbought signals seldom signal a reversal in a trending market, as much as they do in a sideways market.
3 factors that support EV growth in India; watch out for stocks in auto and OEM space: Anurag Jhanwar
Overall macroeconomic factors provide comfort as we are seeing a fall in inflation, a pause in interest rate cycles, an increase in foreign investment in the equity markets led by issues being faced globally.
3 factors that support EV growth in India; watch out for stocks in auto and OEM space: Anurag Jhanwar
Overall macroeconomic factors provide comfort as we are seeing a fall in inflation, a pause in interest rate cycles, an increase in foreign investment in the equity markets led by issues being faced globally.
PM's firm policy is to ensure development of all states without exception: Nirmala Sitharaman
The Finance Minister sanctioned loan letters to 1.41 lakh beneficiaries in the Union Territory to the tune of Rs 2,628 crore under different programmes including Housing and Mudra schemes of the Central government operated by the public sector banks.
MC Interview | Accumulate IT stocks, expect positive breakout soon, says Ashish Kyal
Short term indicators like RSI (relative strength index) are overbought on hourly time frame and so it is better to use dips to buy as long as support near 18,900 level remains intact.
10 best bets when bulls rule the Street, benchmarks reach uncharted territories
The benchmark Nifty is likely to march towards 19,300-19,500 levels in coming days, as long as it holds the 19,000 mark, which is an immediate support, then 18,800 levels, experts said
Aim to double every four years: HDFC Bank MD after merger
Having successfully executed the merger with parent HDFC, HDFC Bank's managing director and chief executive Sashidhar Jagdishan on Saturday said the country's largest lender aims to double every four years. In a letter to the over 4,000 employees from HDFC who joined the bank's rolls on Saturday, Jagdishan said the future is bright, and the work on realising the potential of the merger starts now.
HDFC Bank starts rebranding HDFC Ltd offices, branches after merger
HDFC Bank started rebranding offices of HDFC Ltd, its newly merged entity, with its own branding. The process, which began on Saturday, is expected to take about 24 hours. The merger between HDFC Bank and HDFC Ltd, the parent company of India's largest private sector lender, was approved by both entities' boards in April 2022. The merger will make HDFC Bank the fourth most valued lender in the world
Vedanta, ACC among 7 stocks with rising delivery percentage and strong volumes
Investors are optimistic about the stock market as several stocks show increased delivery percentages and strong trading volumes. NHPC, Union Bank of India, Vedanta, Lupin, Devyani International, Indian Bank, and ACC have all experienced rising delivery percentages compared to the previous day and month, along with robust trading volumes. This reflects growing investor enthusiasm and confidence in these stocks and suggests positive sentiment towards their future prospects.
Bank fraud: ED attaches Maharashtra-based steel company's assets worth over Rs 517 crore
The Enforcement Directorate (ED) has attached assets worth over Rs 517 crore belonging to Maharashtra-based steel company SKS Ispat and Power Limited in relation to an alleged bank loan fraud. The assets, including land, building, and machinery, have been provisionally attached under the Prevention of Money Laundering Act. The investigation is connected to a case involving boiler manufacturing company Cethar Limited, which availed credit facilities of Rs 895.45 crore.
IL&FS moves NCLAT over consent delays for transfer of assets to InvIT
Under the resolution framework, the company management had approved the transfer of four road assets (BKEL, BAEL, JIICL, and JRPICL) to the InvIT of ₹5,500 crore, though lenders have been slow in approving the restructuring proposals for these assets.