PSUs as well as PSU banks can be an exciting one-year story: Deepak Shenoy
“The Reliance stock will be in a range until there is no clarity on how things move going forward. But this is an incredibly interesting business for us. It is one of the most innovative companies in the Nifty50 in terms of technology. I like the business but it is going to take time until the demerger. The sum of the parts is greater than the whole.”
BoM to raise up to Rs 1,000 crore from share sale in Q4: MD
"It will be done in piecemeal manner and we are looking at QIP between Rs 500 and Rs 1,000 crore in the current quarter," he said, adding, going forward other means would be explored for dilution of the government's stake.
BoM Q3 Results: PAT jumps 140% YoY to Rs 775 crore on fall in provisions
Total income for the bank rose 23% at Rs 4770 crore against Rs 3893 crore in the year-ago quarter while net interest income rose nearly 30% at Rs 1,980 crore against Rs 1,527 crore. Provisions other than taxes fell 30% at Rs 582 crore against Rs 836 crore.
Bank of Maharashtra surges over 7% as Q3 profit more than doubles to Rs 775 crore
The Pune-based bank's asset quality improved substantially as the gross non-performing assets declined to 2.94% as of December 2022 as against 4.73% as on December 2021. Meanwhile, net NPAs were down to 0.47% during the period under review
Corporate Radar: TCS to trade ex-dividend; BoM to announce earnings and more
This multibagger stock from the garments and apparels segment is scheduled to meet for its board meeting for considering bonus share issue and stock split. The companys stock in a 1-year period has generated a return of 578
PSU bank stocks jump up to 13%. Should you keep buying?
Shares of Indian Overseas Bank (IOB) were the top gainers in todays trade as the stock surged 13% to Rs 29.75 apiece. Meanwhile, shares of Union Bank of India, Bank of India and Bank of Maharashtra rose over 8%. PNB, Indian Bank, UCO Bank, and Central Bank of India advanced over 5% each.
PSU bank stocks tumble up to 10%. Should you buy the dip?
Indian Overseas Bank was the top loser as the stock fell 10% to Rs 27.5 per share. Among other PSU bank stocks, UCO Bank fell 9.9%, Central Bank of India 9% and Bank of Maharashtra 8%. The Bank of India, Union Bank of India, Indian Bank, PNB and Punjab & Sind Bank also plunged over 5%.
40 smallcaps give double-digit weekly returns when Sensex sees worst week in 6 months
However, money managers are not very confident in betting on the smaller and mid-sized state-owned banks eventhough many of them have undertaken a major clean-up of their balance sheets and have seen a sharp expansion in their price-to-book values.
Keep 35-40% of your portfolio in banks and NBFCs: Dipan Mehta
I think that banks are in for a good time for the next two, three years or so. We heard what Mr Uday Kotak said that this is the Cinderella time for them and I completely agree with that. Rather since the pandemic I have not seen these kind of positive factors coming through all together for the banking industry ever.
Can Ather Industries, Anumpam Rasayan prove to be the next Infosys? Vinit Bolinjkar answers
“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.”
Nifty Bank hits fresh record high, crosses 44,000 mark for first time
“We expect this outperformance for banks and the tailwind for the sector to continue for 2023. In the short term, after yesterday's inflation print in the US, there is an expectation in some quarters that the US Fed might turn less hawkish in the upcoming policy, which will support the markets,” he added.