Public sector bank or private bank: Where should you take your education loan from?
To get an education loan, you first need to secure admission to an accredited college or university. First, you need to check with the lender if the course or university you are planning to attend is on its approved list. One should keep in mind that while public sector banks typically offer a lower rate of interest, private lenders score on convenience and quick disbursal. So, which one should you go for?
Sona BLW Precision shares slip over 5% amid block deal buzz
Shares of Sona BLW Precision Forgings (Sona Comstar) fell over 5% to Rs 505.2 in Wednesday's trade amid reports of a large block deal executed on the counter. The promoter Aureus Investment was likely to sell a 3.25% stake in Sona BLW Precision Forgings via a block deal. In Q4FY23, the company reported a strong revenue of Rs 744 crore with 35% YoY growth, while the revenue share from Battery Electric Vehicles (BEV) stood at 28%, a growth of 37% YoY.
Hot Stocks: Brokerage view on SBI, JK Cement, Coal India, Tata Motors and Policybazaar
Top brokerage firms have shared their recommendations on some Indian companies. BofA Securities maintained a buy rating on SBI with a target price of Rs 1030, while Jefferies downgraded JK Cement to hold with a target price of Rs 3260. JPMorgan remained overweight on Coal India with a target price of Rs 290. CLSA maintained a buy rating on Tata Motors with a target price of Rs 624 and Citi maintained a buy rating on Policybazaar with a target price of Rs 820.
Indian NBFCs double fundraising via bonds in five days as bank rate gap widens
Indian non-banking financial companies (NBFC) have raised around INR 100bn ($1.21bn) in the past five days from bond issues, double that of the preceding work week. More issues are expected as interest rates in the debt market continue to be low, leading to demand picking up as lending rates drop. Meanwhile, the Reserve Bank of Indias recent move to withdraw INR 2,000 notes is expected to boost liquidity and lead to shorter tenor yields improving.
India's largest lender, State Bank of India (SBI), is set to trade "ex-dividend" on Wednesday after declaring a dividend of INR11.30 ($0.15) per equity share. Record date falls on May 31 to determine shareholders' eligibility, with payment fixed for June 14. SBI reported Q4 83% YoY growth in standalone net profit to INR16,695cr ($2.27bn). Net interest income rose 29% ($5.3bn), ahead of analyst estimates. Most retained an upbeat outlook following the results. The lender continued with provisions for loan losses and met capital ratios, while advances grew slightly ahead of the system.
India extends USD 1 bn credit line to Sri Lanka for another year
India on Tuesday extended its under-utilised USD 1 billion credit line to Sri Lanka for another year to help the island nation hit hard by an unprecedented economic crisis procure much-needed food, medicine and other essential items. An agreement was signed between the State Bank of India (SBI) and the Sri Lankan government for USD 1 billion credit facility in March last year. India extended the credit line to Sri Lanka at the height of the country's economic crisis.
Rs 2K currency notes: RBI doesn't have power to withdraw banknotes, petitioner tells HC, court reserves verdict
The Reserve Bank of India (RBI) cannot withdraw from circulation or discontinue banknotes and only the central government is vested with such powers, the Delhi High Court was told on Tuesday. The submission was made by the petitioner Rajneesh Bhaskar Gupta who has filed a public interest litigation (PIL) challenging the RBI's decision to withdraw Rs 2,000 denomination currency notes from circulation.
JSW Energy has been trying to make a bottom somewhere around 200-220 mark in the last two-three months. However, I feel that still the stock is not out of the woods, it is still in a downtrend and only across about 275-280 will mean that the short-term downtrend in the stock is over and then the stock can be bought on dips.
These 5 banks will offer QR Code-based Coin Vending Machines
Coin vending machines that use QR codes will soon be accessible in 12 cities, according to Shaktikanta Das. According to the governor of the RBI, this will make it simpler to get coinage and distribute coins using machines.
ET MSME Regional Summit in Ahmedabad: MSME industry leaders highlight key challenges, milestones, growth opportunities
At the recently completed ET Make in India - MSME Regional Summit in Ahmedabad, important decision-makers, business owners, top trade associations, and MSME stakeholders highlighted the expansion possibilities for Gujarat's micro, small, and medium-sized firms. They also emphasised the difficulties MSMEs confront across a range of industries, including gem and jewellery, textiles, healthcare and vaccine production, chemicals, and manufacturing, among others.
ONGC Videsh has less than $100 mn stuck in Russia, says official
Indian state oil firms have invested USD 5.46 billion in buying stakes in four different assets in Russia. These include a 49.9 per cent stake in the Vankorneft oil and gas field and another 29.9 per cent in the TAAS-Yuryakh Neftegazodobycha fields.
From Doom to Bloom: The turnaround story of Indian banks’ bad loans and profits
After suffering from seething government and bad loan issues for nearly a decade, the Indian banking system finds itself in an enviable position in 2023. However, if history is anything to go by, this turnaround in fortunes for Indian banks remains vulnerable to monetary policies and external contingencies including geopolitical risks.
Momentum Pick: After 52-week high, IDFC First Bank shares on way to hit a century
IDFC First Bank's shares hit a 52-week high of INR 70 on the NSE as it rallied by over 5% over the past three trading sessions. A 15-17% rally from the current level by the middle of July will result in the stock making a cut in the MSCI Standard Index in its August review, as per a note by brokerage firm Nuvama. The quarterly down-sloping trendline breakout confirms trend reversal on long-term charts. The bank's standalone PAT jumped 134% YoY to INR 803 crore in the March quarter, which is the highest-ever quarterly profit for the bank.
Delhi HC dismisses PIL against RBI notification allowing exchange of Rs 2,000 note without ID
Delhi High Court on Monday dismissed PIL challenging Reserve Bank of India and State Bank of India notifications, which permits the exchange of Rs 2,000 banknotes without obtaining any requisition slip and identity proof.