Geojit Financial Services has announced the appointment of Rahul Roy Chowdhury as the Chief Executive Officer of their Private Wealth Services and Gopinath Natarajan as the Chief Executive Officer of their Portfolio and Managed Assets services.

FIH Mauritius Investments Ltd (FIHM), which currently holds a 49.72% stake in the Thrissur, Kerala-based bank according to BSE data, shall bring down its shareholding within 15 years from the date of completion of investments.

“Varun Beverages, Landmark, Inox Wind, Sampada are among top five holdings on a mark to market basis. These are actually companies that we are in the special sits (situations) fund. We look for steady compounders as well. Varun Beverages was a special sits which became a steady compounder as did Landmark Cars.”

Hinduja Group owns IndusInd Bank, Hinduja Leyland Finance and Hinduja Bank (Switzerland). The group is currently diversifying and is readying plans to make forays into new tech, digital and fintech.

The RBI had in December 2022 started the retail pilot of its digital currency.

IndusInd Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 115400.39 Crore).

The index rose over 100 points to close at 43,577. It hit an intraday high of 43,649 and an intraday low of 43,451. The Nifty50 index closed flat with a negative bias at 19,802.

The 30-share BSE benchmark Sensex declined 5 points to settle at 66,017. The broader NSE Nifty dropped 10 points or 0.05% to end at 19,802. From the Sensex pack, UltraTech Cement, L&T, Bajaj Finance, TCS, and NTPC ended in the red, while IndusInd Bank, JSW Steel, Bharti Airtel, Wipro, and HDFC Bank closed in the green.

The Reserve Bank of India (RBI) has ordered an arms length distance between Hinduja group-run IndusInd Bank Ltd and Reliance Capital, the debt-laden firm the conglomerate is acquiring in an insolvency proceeding. The RBI has given no objection to the transfer of control of Reliance Capital Ltd to IIHL BFSI (India) Ltd and approved the appointment of five Hinduja Group representatives as directors on the Reliance Capital board

Banking stocks like SBI, Kotak Mahindra Bank, and IndusInd Bank saw some repreive on November 20 after the RBI's tightening of unsecured retail lending

That type of borrowing had surged more than 25% in the past year, according to Macquarie Group, far higher than growth in consumer incomes, potentially creating a debt trap for borrowers and giving rise to defaults.

RLMM or Revised List of Models & Manufacturers listing is an important milestone required for the successful commercialisation of the product, the company filing said. S144 – 3 MW series of wind turbines are extendable to 3.15 MW.

The company which operates the fintech platform Paytm is expected to trigger passive inflows in India to the tune of $160 million according to Nuvama's estimates.

This marks "a significant increase over the past three years, almost doubling its weight," Nuvama Alternative & Quantitative Research said in a note.

Suzlon Energy was among the nine stocks that will be added to the index as a part of the rejig which comes into effect from November 30.

Inclusion or increase in weightage of a stock in global indices leads to inflows from passive funds which track that particular index

Nifty on Wednesday ended 37 points higher to form a small-bodied candle with minor upper and lower shadow on the daily chart.

“The Reliance stock is looking good from the short covering point of view. A bounce back out here cannot be ruled out with the kind of positive divergence which we are seeing on the daily and the hourly charts. The stock is likely to reach towards the levels of Rs 2360-2380.”

Nifty on Thursday ended 144 points higher to form a high wave type candle pattern on the daily chart. The short-term uptrend trend status of Nifty remains intact and there is a possibility of Nifty moving towards 19200-19300 levels again in the coming sessions before consolidating again from the highs

The Relative Strength Index (RSI) is a vital tool for stock analysis. In this article, ETMarkets dives into the RSI and spotlights four stocks - IndusInd Bank, Infibeam Avenues, TTK Prestige, Kalpataru Projects International, and Amber Enterprises India - experiencing a downward RSI trend.

Both the bidders -- Radio Mirchi & Orange FM consortium and Sapphire FM -- have offered to pay the bid amount within 30 days.

According to Hemang Jani, Independent Market Expert, the IT sector has entered a value zone, making it attractive for investors with a medium to long-term view. However, he cautions that the near term will continue to be affected by sluggishness in growth and tech spending sentiment. Jubilant Food's weak demand environment is expected to weigh on margins and earnings growth. Jani advises caution when considering the Honasa IPO, as the company is still loss-making. IndusInd Bank has been a strong performer and is seen as an attractive option in the banking sector.

The Hinduja Group is planning to go for an initial public offering (IPO) by the middle of next year, according to Ashok Hinduja, Chairman (India) of the group. The listing would allow global high net worth shareholders to partly exit and generate value. The group is currently reviewing potential listing locations, including Singapore, Dubai, Luxembourg, and Mauritius. Gopichand Hinduja, Chairperson of the group, expressed confidence in India's growth potential and praised Prime Minister Modi's vision, while also emphasizing the importance of implementing that vision effectively.

The Hinduja group is eying a valuation of $35-40 billion for its banking, financial services, and insurance (BFSI) business. Ashok Hinduja, stated that their promoter company, IndusInd International Holdings Ltd (IIHL), will expand into the BFSI sector to become a full-stack financial giant. The group has already acquired a controlling stake in a bank in the Bahamas and received approval for a banking license in Mauritius. IIHL has successfully bid for buying the debt-ridden Reliance Capital.

​"With gap between credit growth and deposit growth expanding during the year to 6 percentage points at the peak, banks have been pushed to invest in expanding networks with an objective to boost their deposit mobilisation,'' said Prakhar Sharma, analyst at Jefferies. "It is interesting that different banks are adopting different strategies to drive growth in retail deposits."

Volatility has been moving in a narrow range around 11 zones and thus not creating any major panic in the market with a capped upside.

​They caution if this support is breached, there is a likelihood that the index could further decline towards the range of 19,000 to 18,900 in the coming weeks. Analysts suggest traders may want to explore potential opportunities in Reliance, HDFC Bank, IndusInd Bank, and Sun Pharma.

From the Sensex pack, ITC, Tata Steel, and HUL were the top laggards, falling over 2% each. SBI, JSW Steel, and Power Grid also ended lower, while Kotak Bank, IndusInd Bank, TCS, and NTPC closed higher. Tata Communication closed 3.7% lower after the firm reported a 58% YoY decline in consolidated profit after tax to Rs 221.26 crore for the second quarter of FY24.

Motilal Oswal is bullish on IndusInd Bank recommended buy rating on the stock with a target price of Rs 1700 in its research report dated October 18, 2023.

​If you look at it, we are naturally hedged but 58% of a book is fixed rate and 42% is floating rate and you will start seeing the advantage of a fixed rate book with the declining interest rate and you will see NIMs expansion as a consequence of that.

​If you look at microfinance, we are not dependent on JLG. 15% of the book comes from merchant acquiring business. So, we have started to diversifying that businesses so that the business continues to go up.

Volatility has been moving in a narrow range at around 11 zones thus not creating major panic in the market even though the upside remains capped.

“FIIs are reducing their exposure to India, they will sell only what they own but then a time will come when the share prices will catch up with fundamentals and in comparison to other runups in the small and midcap space, financials still make reasonable sense. We are increasing exposure in the entire BFSI space.”

Prabhudas Lilladher is bullish on IndusInd Bank has recommended buy rating on the stock with a target price of Rs 1620 in its research report dated October 19, 2023.

Sharekhan is bullish on IndusInd Bank has recommended buy rating on the stock with a target price of Rs 1650 in its research report dated October 18, 2023.

ICICI Securities is bullish on IndusInd Bank recommended buy rating on the stock with a target price of Rs 1750 in its research report dated October 19, 2023.

HDFC Securities recommended reduce rating on IndusInd Bank with a target price of Rs 1280 in its research report dated October 18, 2023.

Among the ones who came out with their post-earnings review of the stocks were BofA, Kotak Institutional Equities and Nuvama and all of them have a buy view on the counter. Meanwhile, Motilal Oswal chose to take a neutral stance on the counter.

“The Bank Nifty is going to be one of the forecasters to rise because I would expect underperformance to be over in both IndusInd and HDFC Bank and say PSU banks could take a little breather. So, IndusInd and HDFC, are both buys around this period or on slight declines.”

Though Q2 scorecard was largely in line with the street estimates, analysts underlined elevated slippages and slower overall deposit growth as major drags

BofA Securities maintained a buy rating on Bandhan Bank with a target price of Rs 300. The asset quality improvements were very gradual.

From the Sensex stocks, Wipro declined 3% after the IT firm reported a disappointing set of numbers for the September quarter, clocking the weakest growth among peers.

IndusInd Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 110222.41 Crore).

The latest shareholding of IndusInd Bank showed that the foreign shareholding has decreased to 62.61%, thereby meeting the minimum headroom requirement of 15%.

"The Indian economy continues to show resilience aided by effective fiscal and monetary actions despite increasing global geo-political uncertainty," said Sumant Kathpalia, MD , IndusInd Bank. "Economic activity is expected to pick up pace with upcoming festive demand and robust consumption."

High-weightage financials lost 1.3%. Bajaj Finance shed as much as 2.85% and was the top Nifty50 loser. Bajaj Finserv also declined over 2%.Nifty Bank also fell 1.2%. Axis Bank, HDFC Bank, ICICI Bank, IndusInd Bank and Kotak Bank plunged 1-1.5%.

Broking firms say the private sector lender’s net interest income may grow 19 percent in Q2, but margin pressures will keep sequential growth muted

IndusInd Bank Q2 Preview: The bank's net interest income (NII) is expected to grow 16% year-on-year (YoY), while the net profit is seen rising 20% YoY, according to an average estimate of five brokerages. The lender reported loan and deposit growth of 4% quarter-on-quarter (QoQ) in its business update.

“We could see Jio Financial stock for a long time not doing anything. And then, if they are able to establish a business which is seen as sustainable and profitable, then at that time, the stock will perform. But I do not think it is going to happen in the near future.”

India VIX was down by 0.02% from 10.62 to 10.61 levels on Friday. Volatility cooled off in the week and paved the way for the bulls to strengthen in the market.

Rupak De, Senior Technical analyst at LKP Securities, said, "The bulls were able to protect the level of 19,600 during the day, thanks to the strong open interest (OI) build-up at the 19,600 strike price by put writers. The strength may continue as long as the index remains above 19,600. Only a decisive fall below 19,600 might trigger serious long unwinding in the market, till then a buy-on-dips strategy to favor the market. On the higher end, resistance is visible at 19,850; above this, the index might move towards 20,000."

India VIX was down by 3.30% from 10.98 to 10.61 levels on Thursday. Volatility cooled off and paved the way for the bulls to strengthen in the market.

India's largest banks are conducting audits to assess their own and borrowers' carbon footprints as they face increasing pressure from regulators and investors to align their ESG reporting with global standards. India, the world's third-highest greenhouse gas polluter, aims to achieve net-zero emissions by 2070. The country's financial sector lags behind others in reporting on lending-related emissions. About 25%-35% of Indian bank loans are exposed to carbon-intensive sectors.

IndusInd Bank stock has given a return of 32.08 percent over the last six months. The benchmark Nifty Bank index has given a return of 7.12 percent over the same duration.

Last month, Nomura had also upgraded the Indian equity market to overweight status saying that valuations may remain expensive. In August, Morgan Stanley had upgraded India to overweight rating and ranked India as the No. 1 market in its basket of Asian emerging markets ex-Japan on the back of a structural uptrend and secular leadership.

The profitability of banks is likely to be affected in the second quarter due to higher deposit rates and rising treasury yields. This will slow profit growth as the higher cost of funds impacts banks' net interest margins. The advantage that banks had on net interest margins will decrease as deposit rates reprice higher. US-based brokerage Jefferies expects banks' profit growth to slow to 12% as margins contract.

Coal India, Bharti Airtel, Adani Ports, Hindalco Industries and Adani Enterprises were among the top gainers on the Nifty

#INDUSINDBK INDUSIND BANK MAKING TRIANGLETRADE ON BREAKOUT SIDE

According to CDEL, its total outstanding amount is Rs 189.14 crore from loans or revolving facilities like cash credit from banks or financial institutions

"While RBI is expected to hold rates, the global factors like the rising bond yields and higher interest rates have led to negativity in the banking space," said Andrew Holland, CEO-Avendus Capital Alternate Strategies. "The support levels for the banking index are hovering over at 42,000 levels." The Nifty Bank index closed at 43,964.

CNTL, wholly owned by IL&FS Transportation Networks (ITNL), is likely to be resolved through transfer to an InvIT structure as part of its restructuring plan. This transaction follows Edelweiss' previous acquisition in 2021 when it purchased CNTL's loan of Rs 750 crore, recovering 75%-80% of the loan's value, originally sold by IndusInd Bank. CNTL currently has a total debt of Rs 5,454 crore, with Rs 4,195 crore owed to lenders and the remaining Rs 1,295 crore from IL&FS group entities.

The bank's overall deposit growth remained strong in the second quarter of this financial year, showed performance data published at the end of the quarter. Deposits climbed 30% year-on-year to reach ₹21.7 lakh crore. On a quarterly basis, there was a 14% increase.

The world cricket governing body has 20 sponsors and partners for ICC World Cup 2023. It has six global partners that are paying $8-10 million for these sponsorship slots. The global partners include MRF Tyres, Booking.com, IndusInd Bank, MasterCard, Aramco and Emirates. IndusInd and MasterCard have come in as global partners following the exit of Byju's and BharatPe. Both Byju's and BharatPe gave up ICC sponsorship due to their financial woes.

The stock market brought notable developments on September 29 with several large-cap stocks demonstrating their vigor by crossing their 50-day Simple Moving Averages (SMA).

IndusInd Bank stock has given a return of 32.52 percent over the last six months. During the same period, the Bank Nifty index has returned 9.24 percent.

HDFC Bank, India's most valued lender, has seen a decline in its stock value in the past three months, raising concerns about its impact in the banking sector. The bank's performance has been relatively subdued compared to public-sector lenders, and uncertainties surrounding its merger with its home-financing parent have weighed on the stock. However, HDFC Bank has been focusing on expanding its branch network in areas with limited competition from private banks, allowing it to compete with public-sector banks for deposits. This strategy is expected to benefit the bank in the coming years and drive earnings growth.