September 27, 2023, will be remembered as a day when midcap stocks showcased their potential.

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.

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'.

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.

Analysts said as national banks' balance sheets become more available, they can allocate more funds to the private sector.

The stock market witnessed significant achievements on September 21 as several mid and small-cap stocks hit their all-time highs.

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.

Promoters held 79.86 per cent stake in the company as of 30-Jun-2023, while FIIs owned 4.0 per cent, DIIs 11.57 per cent.

As compared to Monday's closing level of 5,217, Nifty PSU Bank is just 3% away from the closing peak of 5,375.8 touched in November 2010.

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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 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.

"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.

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 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.

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.

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.

On the top of the list is Apar Industries, which has seen its EPS rise from 41.94 in FY21 to 67.08 in FY22 and to a further 166.64 in FY23.

In a remarkable display of upward momentum, several stocks within the BSE 200 Index reached new 52-week highs on August 18.

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.

State Bank of India and IDBI Banks special fixed deposit dubbed as Amrit kalash and Amrit Mahotsav FD will end on August 15, 2023.

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.

"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. "

​Breakout from three months consolidation and daily stochastic is in buy mode.

Motilal Oswal is bullish on Indian Bank recommended buy rating on the stock with a target price of Rs 380 in its research report dated July 27, 2023.

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.

Jain said Indian Bank was open to lending to airline companies.

Of the Rs 7,000 crore, the bank has received only Rs 560 crore worth of Rs 2,000 notes in exchange.

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.

The gross non-performing asset (GNPA) of the bank declined to 5.47 percent as compared with 8.13 percent last year.

Here are few changes that will come into effect in August that you should watch out for.

Nifty is still holding above 20, 50 and 100 day EMAs, which indicates the bullish trend on all time frames.

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.

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.

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

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.

“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.”

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.

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.

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.

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.

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.

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

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 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

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.

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.

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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.