Sandip Sabharwal says HDFC Bank and Kotak Mahindra Bank are currently not attractive investment options due to various challenges they face. However, these banks are well-managed and could be considered for investment at lower prices in the future. Sabharwal also discusses the impact of rising yields and the dollar rally on emerging market stocks, stating that India is more robust now compared to earlier.

A surge in US treasury yields overnight to a 16-year high also kept investors on the edge, with market participants weighing the impact of elevated interest rates on equity valuations. BSE's Sensex dropped 610.37 points, or 0.92%, to close at 65,508.32. NSE's Nifty fell 192.90 points, or 0.98%, to end at 19,523.55.

is it possible to get a credit card if you are not employed — what if you are, say, a student, a retired person or a homemaker? Proof of income is not the only way to understand the repayment capability of a credit card applicant. Banks have multiple ways to check the credibility of a customer who does not have salary-account statements or payslips. Find out how to get a credit card without income proof

The Flipkart Big Billion Days 2023 sale will begin on October 8 and run for a week, with Flipkart Plus members getting a 24-hour head start. Discounts of up to 90% on fashion items and up to 80% on beauty, home decor, and sports products are expected. Special discounts and cashback offers will be available for customers using credit cards.

On Thursday, trading in shares of China Evergrande were suspended after a report that its chairman had been placed under police surveillance, stoking concerns over the developer's future as it struggles with a growing threat of liquidation, Reuters reported.

Blaupunkt has partnered with Flipkart to launch new televisions, including a 43-inch QLED and a 55-inch 4K Google TV. The TVs start at ₹28,999 ($390), with the Google TV model priced at ₹34,999 ($472). The company has seen a 300% increase in sales of its 55 and 65-inch TVs in the past year.

Setting aside the Karnataka High Court order that remanded the matter back to the commission to decide on the immunity from penalty and prosecution in the Kotak Mahindra Banks case (formerly ING Vysya Bank), a Bench comprising justices BV Nagarathna and Ujjal Bhuyan said that frequent interference by courts in disputes before such commissions could erode the confidence of the assesses who decide to approach settlement commissions.

The ninth edition of The Economic Times Startup Awards (ETSA) will be held on Saturday, October 7, in Bengaluru to honour this year's winners across eight categories in what will be a star-studded gathering of the who's who of India's new economy.

"The app will provide access to a wide range of investment and trading offerings, including Indian stocks, ETFs, mutual funds, futures and options, currencies, commodities, IPOs, and global equities on a single Fintech platform," said the firm in a release. "What sets HDFC Sky apart is its cutting-edge technology," said Dhiraj Relli, managing director, HDFC Securities

Reserve Bank of India Governor Shaktikanta Das has warned against the "excessive dominance" of one or two board members in big commercial banks. RBI Guv Das stated that board discussions should be free and fair, with all directors given a chance to speak and no single director's opinion being final.

Foreign investors currently hold less than 2% of government securities. Officials have in the past worried about the consequences of outsized debt inflows, leaving local banks and mutual funds as the main buyers of bonds.

Analysts said due to strong management and aggressive strategies, private sector banks will continue to take market share from their public sector counterparts. They also believe private banks have strong subsidiaries in high-growth businesses like asset management, wealth management, and life and health insurance, where value will be unlocked in the coming years.

Got a new debit or credit card? Make sure to activate its card control mechanism first either using the bank's mobile/net-banking application or at branch. Without activating the card controls, the debit or credit card will not work either offline or online.

India-Canada relations has taken a hit in the last few days as Canadian Prime Minister Justin Trudeau alleged involvement of India in the killing of Khalistan Tiger Force Chief Hardeep Singh Nijjar, a few months back.

Sales of additional shares in listed companies in the country have surpassed $10 billion this year, more than the tally for all of 2022, according to data compiled by Bloomberg. The momentum can sustain into next year and beyond as owners of Indian companies are keen to raise funds for other investments, said Abhinav Bharti, India head of equity capital markets at JPMorgan. Demand from local asset managers as well as foreign investors is also driving share sales, he added.

FD rates hike: The bank credit rose 9.1% to Rs 124.5 lakh crore in April-August 2023, while bank deposits surged by 6.6% to Rs 149.2 lakh crore in the period. As a result, will banks hike the interest rates of fixed deposits (FDs) in the short-term or long run? Let's find out what experts say

The MCLR-based rates will now range between 8% and 8.75%. The bank revised Benchmark Prime Lending Rate to 14.95% from 14.85%, effective from September 15, 2023.

After more than two hours of deliberations on the basis of an 87-page dossier, the high-powered jury for the Economic Times Startup Awards 2023 selected the eight winners from a cohort of 38 nominees.

Analysts believe the banking and financial services sector will spearhead the next market surge in the medium to long term, buoyed by India's economic expansion driven by capital expenditure, burgeoning credit activity, and an upswing in consumer spending.

In this article, we explore why 10 stocks have a trending-up RSI, offering insights into potential market movers. Join us as we unravel the RSI and its importance in assessing stock movements for informed investment choices.

Kotak Mahindra Bank's digital platform for corporate clients, Kotak fyn, has led to 68% of the bank's corporate banking transactions being conducted digitally, according to Shekhar Bhandari, president of global transaction banking at Kotak. The platform, which was launched in April, aims to reduce the cost of funds for business units by approximately 14% and has already onboarded around 40,000 customers, a quarter of whom are new customers. The bank plans to increase this number to 100,000 by the end of the fiscal year.

Ahead of the ET Startup Awards 2023 jury meeting today, the elite panel sums up what they look for in a winner. Uday Kotak shares his views on what makes a winner standout.

The Reserve Bank of India's decision to discontinue the Incremental Cash Reserve Ratio (ICRR) in a phased manner is seen as a prudent move by experts. The ICRR withdrawal had caused a liquidity shortage in the banking system, but the RBI plans to gradually infuse the withdrawn liquidity back into the system. This phased approach is aimed at managing liquidity during the festive season and avoiding any immediate impact on short-term rates. Overall, the move demonstrates the RBI's focus on using market mechanisms to manage liquidity surpluses.

The Reserve Bank of India (RBI) on Friday approved the appointment of Dipak Gupta as interim MD and CEO of Kotak Mahindra Bank. Gupta have been assigned the position for two months, as of now.

From the Sensex pack, L&T, NTPC, Bajaj Finserv, Bharti Airtel and Tata Steel, opened with gains, while Axis Bank, TCS, Infosys, ICICI Bank, and Kotak Bank opened with cuts.

The IDFC First Bank shares today hit their 52-week high of Rs 100.70 on the NSE around 9:50 am and have remained undefeated for seven sessions in a row including today. The stock has gained nearly 11% during the rally.

Stocks that were in focus included names like Kotak Bank, which fell 0.37%, IDFC First Bank, which gained 5.78%, and Nazara Tech, whose shares jumped 10.20% on Monday.

The ETSA jury is also meeting at a time when the volatility in valuations of publicly listed companies, which began in the US in late 2021, has spilled over into the private markets, resulting in plummeting investments and significant valuation corrections.

Both companies launched similar products around UPI and tap-and-pay card payments Monday, looking to grab a larger share of the offline payments pie.

Uday Kotaks sudden resignation on Saturday took the investor community by surprise. Kotak Mahindra Bank, with a market cap of `3.51 lakh crore, is currently the fourth-largest lender in the country. In his resignation letter to chairman Prakash Apte, Uday Kotak revealed that he had contemplated this decision and chose to step down four months before his terms conclusion.

ICICI Securities recommended hold rating on Kotak Mahindra Bank with a target price of Rs 1850 in its research report dated September 04, 2023.

The adjusted share price of erstwhile Kotak Mahindra Finance (KMFL) was at Rs 7.99 according to the data sourced from Ace Equity while the closing price of Kotak Bank shares was at Rs 1771.30 on September 1, 2023.

Uday Kotak will continue as a non-executive director of the bank. With 25.72 percent stake, he also remains the biggest shareholder in the bank

Uday Kotak, the billionaire banker and founder of Kotak Mahindra Bank announced that he will step down as the bank's Managing Director and CEO with immediate effect. The bank is now actively searching for Kotak's replacement, both internally and externally. Two key contenders for the role are K V S Manian and Shanti Ekambaram, both full-time directors at the bank.

With succession-related issues seen as a major overhang for the stock, Kotak Mahindra Bank shares have been underperforming and now Uday Kotak's premature exit as MD and CEO of the private lender has come as a surprise to investors.

Kotak Mahindra stock valuation has fallen over the last one year but it is still more expensive than bigger rivals HDFC Bank and ICICI Bank

Kotak explained that due to personal commitments, including his son's November 2023 wedding near the end of his tenure in December, he felt it was wise to resign.

“Kotak Bank has been one of the underperformers because its relative growth versus the peers has been a bit lagging for whatever conservative strategies they followed. Will this change? That is one important parameter to look at. And will it also change the perception given the new leadership team which emerges?”

Uday Kotak, the founder of Kotak Mahindra Bank, has stepped down as MD and CEO ahead of the end of his term, causing concern among businesses and investors. Kotak reflects on his decision, stating that he wanted to make the succession process smoother and that he had completed his responsibilities. He also emphasizes the importance of institutions over individuals and expresses his confidence in the future growth of the bank.

​​Kotak along with Deepak Parekh, Aditya Puri, and KV Kamath played a pivotal role in development of these financial giants including Kotak Mahindra Bank, HDFC, HDFC Bank, and ICICI Bank, respectively, creating outsized wealth for investors. ET looks at how the four lenders grew under the tenures of these leaders.

In a handwritten letter, accessed by TOI, addressed to the bank's chairman, Prakash Apte, Uday Kotak stated, "I have mulled over this decision for some time and believe this is the right thing for the institution." He further explained that his resignation would occur after the completion of the financial year and the Annual General Meeting (AGM) for FY2023, strategically considering the transition and stability aspects.

Kotak, the 64-year-old founder-promoter of Kotak Mahindra Bank, is the richest banker in the country by virtue of owning 26 per cent of the bank which was valued at over Rs 3.5 lakh crore as of Friday's close. The private sector lender he founded is the only one sporting the family name, and till Friday, had a family member at the helm as the managing director and chief executive officer in an industry where professional managers have the strongest currency.

Uday Kotak, the founder of Kotak Mahindra Bank, has stepped down as the bank's Managing Director and CEO. Under his leadership, the bank grew from a small bill-discounting business to India's third-largest private lender by market value. Kotak's knack for spotting financial opportunities, such as car financing and forming partnerships with global firms, helped the bank thrive. He also made banking look cool and built an intelligible brand through innovative marketing campaigns.

Kotak Mahindra Bank recently denied that the banking regulator has suggested it hire an external candidate to succeed founder-CEO and richest Asian banker Kotak, who is set to give up executive responsibilities at the end of this year.

Uday Kotak on Saturday resigned as the Managing Director and Chief Executive Officer of private lender Kotak Mahindra Bank, the company said in a stock exchange filing on Saturday.

The industry neither wants the RBI to enforce curbs on borrowing maturity profiles, nor regulate asset-liability management.

Kotak Mahindra Bank has introduced a UPI interoperability feature on its Digital Rupee (e₹) application as part of the RBI's CBDC pilot project. Users can now scan any QR code at merchants to make payments for groceries and daily expenses. The feature is currently available for Android users.

Credit costs for unsecured loans could make up between 60% to 70% of the total provisions for large private sector banks in fiscal 2025 after a strong 26% growth in this segment the last five years. Unsecured loans contribute about 6% of overall system (incl. NBFCs), and contribute 11% for the banking system up from 8% in fiscal 2019.

Kotak Mahindra Bank Chairman Uday Kotak on Saturday pitched for businesses to finance climate transition with the government supporting them in terms of gap-funding. Stating that the risk of existential viability of the Earth has to be kept above the business viability, Kotak said businesses need to go beyond capital which expects returns and opt for capital that is ready to take losses.

India is well-positioned to lead the transitions in digital and artificial intelligence, clean energy, and global value chains, according to N Chandrasekaran, chairman of Tata Sons. Speaking at the B20 Summit in Delhi, Chandrasekaran highlighted India's role in shaping the world's future and its positive standing in the global economy.

Proceeds from the fresh issuance will be utilised for purchasing capital equipment, funding the working capital requirements of the company, and the balance for general corporate purposes.

Vishnu Prakash R Punglia is a construction company that is primarily engaged in infrastructure projects for the central and state governments. The company is focused on water supply projects and is benefiting from various government initiatives.

Jay Kotak, co-head of Kotak Mahindra Bank's digital banking solution Kotak811, recently revealed on Twitter that he travelled across India without his wallet, using only his smartphone.

Godawari Electric Motors has launched its first electric two-wheeler, the Eblu Feo, priced at Rs 99,999. The scooter comes with a 2.52 kWh battery offering a range of 110 km. It also features three driving modes and a top speed of 60 km/hour. Deliveries will begin on August 23.

In case an individual has not linked his/her PAN with Aadhaar by June 30, 2023 then in all probability it has got classified as 'inoperative' by now. An inoperative PAN will have the same effect as if no PAN exists and it cannot be quoted anywhere where PAN is required to be quoted.

The IPO with a face value of ₹2 each is entirely an offer for sale (OFS) of up to ₹900 crore by the promoter and promoter group shareholders.

The private banking stock has been making lower lows for the past 4 weeks on the weekly charts and experts are of the view that there is room for further downside amid weakness seen in the banking space.

Marquee investor Ashish Kacholia sold part of his stake in aesthetic solutions provider SJS Enterprises for Rs 11.6 crore through the open market on Friday.

Building a team of talented, engaged and motivated employees features in a list of nine strategic drivers which the bank will be pursuing going ahead, Apte said. The bank, which has had a history of acquisitions, will also pursue inorganic opportunities, Apte said, including this item in the list of strategic drivers.

An ET analysis found that 12 of the 22 manufacturing firms captured in the index of industrial production were still operating at lower levels than during the pre-pandemic period. “It is becoming progressively clear that notwithstanding some high volatile growth numbers, it is not broad-based. Deficiency in spending is manifest here,” said Madan Sabnavis, chief economist, Bank of Baroda.

Concord Biotech is a biotechnology company and a leading maker of select fermentation-based APIs across immunosuppressants and oncology in terms of market share, based on volume in 2022.

Concord Biotech is a biotechnology company and a leading maker of select fermentation-based APIs across immunosuppressants and oncology in terms of market share, based on volume in 2022. The company is backed by Rakesh Jhunjhunwala's Rare Enterprises and another leading investment firm Quadria Capital Fund. Ahead of the listing, the company's shares commanded a premium of Rs 120 in the unlisted market.

Funds are adopting innovative strategies to meet investor demands for higher returns, especially in credit funds, where investments are structured in a way to allow for risk to be time-tranched, with investors selecting credit opportunities based on their individual risk appetites.

Analysts are of the opinion that a market premium of over 15% on the issue price is justified based on the company's business model, which comprises many niche biopharma products

Analysts are of the opinion that a market premium of over 15% on the issue price is justified based on the company's business model, which comprises many niche biopharma products