"After the credit cycle which they have gone through in the last 10 years between 2014 and 2022-23, any PSU banker will be in a mood to take any extraordinary risk when it comes to lending. I have been broadly positive for the last one-and-a-half years and from my instance, PSU banks are excellent investment opportunity in this fall."

https://front.page/chartbusters/25516097/ Part 2

The market capitalisation of all listed stocks on BSE has reduced to Rs 266.6 lakh crore in three sessions with the Sensex having lost over 2,200 points during the period as the selling pressure on Adani stocks had a domino effect on the rest of the stock market.

Nifty formed a Bearish Engulfing candle on weekly frame and gave a range breakdown. Now, till the index holds below 17777 zones, bounce could be sold for the downside move towards 17500 then 17350 zones whereas hurdles are placed at 17777 and 17850 zones.

The dollar bondholders were jittery about timely payment because 100% of the promoter's equity is pledged with lenders, and delay in arranging refinance prompted Moody's to downgrade the 'corporate family rating' by one notch last October. Within days of the downgrade, Vedanta announced it would discontinue rating engagement with Moody's.

​Nifty has broken down from its consolidation range and slipped below its 100-day exponential moving average (EMA) of 17,900 levels, which was being defended for the past 23 sessions. The short-term moving averages are in a falling mode, which indicates the bearish momentum could continue in the upcoming week.

"It is widely acknowledged that India remains at risk tactically because of the need to fund increased positions in China but there is widespread agreement that India remains the best long-term equity story in the Asia and emerging market context. To deal with this conundrum, investors seem to be reducing exposure to high PE Indian consumer discretionary stocks rather than reducing core bank holdings. This makes sense to GREED & fear, most particularly as Indian banks are looking cheap relative to the Indian market."

"I am a Nifty Bank option seller but whenever I find momentum in Nifty, I buy Nifty futures. The strategy there is to hold for 2 months. Sometimes if the market is trending, you may not get anything by selling options. Then you have to sell in the money option or buy options with the right position sizing. Mostly, in a mild market, non-directional option selling works. But if the market is trending, then I am ready to go in futures or option buying as well."

Bankers on the deal were considering extending the sale or cutting the issue price after shares of Adani plunged following a report from a U.S. short seller, three people familiar with the matter told Reuters on Saturday.

We expect the fiscal deficit to consolidate to 5.8% of GDP in FY24. Gross tax revenue growth is likely to moderate ~7% in FY24 (vs. estimated 11% in FY23). While direct tax and GST buoyancy could stay healthy in FY24 and RBI dividend could improve, we could see moderation in other components of indirect taxes, marginally lower PSU dividend and spectrum-related telecom receipts. The Disinvestment pipeline has also cooled off after the LIC stake sale.

Seven listed companies of the conglomerate controlled by one of the world's richest men, Gautam Adani, have lost a combined $48 billion in market value since Hindenburg Research on Tuesday flagged concerns about debt levels and the use of tax havens.

After two days of back-to-back big red candles, the market participants may prefer waiting before the big day. Therefore, a range-bound movement before the budget looks very much possible.

"The market seems to be looking at some adverse scenarios of banks' exposure to the Adani Group especially when their share prices are falling," said Siddarth Bhamre, head of research Religare Broking. "That is weighing down the risk appetite for bank shares."

"While as a matter of policy we don't comment on individual clients, in the interest of setting the context right, we wish to clarify that SBI's exposure to Adani group is well below the Large Exposure Framework," said SBI's managing director in charge of corporate banking and subsidiaries, Swaminathan J. "All exposure to the group from SBI is secured by cash generating assets with adequate escrow mechanism in place, hence debt service will not be a challenge."

The Sensex closed at 59,330.90, down 874.16 points, or 1.45%, from the previous close, after briefly slipping below 59,000 during Friday trade. The Nifty fell 287.60 points, or 1.61%, to end at 17,604.35. Both indices posted their biggest single-day fall in four months to retreat to levels last seen at the end of October 2022.

The company received total bids of 4,70,160 shares against the issue size of 4,55,06,791 shares. The portion reserved for retail investors got bids for 3,99,880 shares against 2,29,08,464 shares on offer.

“The trend is firmly down and the nearest important level for me is 17,428 on the Nifty spot. So, if the market sprints to 17,428 not even a close just a print, it will confirm and extinguish all remaining hopes for the bulls that the market is headed for below the June 2022 low.”

The NSE Bank Nifty Index dropped as much as 3.5%, extending declines of the previous session, underperforming broader stock benchmarks. Bank of Baroda and State Bank of India were among the biggest decliners, falling at least 5% each. LICs shares extended their drop to 4.3% intraday before paring some losses.

“One can have an asset allocation attitude but I do not see outside its risks in equities just now and also sentiment is a contra-indicator. When there is uncertainty, when people think things are going wrong, the next period returns are above average. One just compounds bad decisions by going with the flow and how everybody is feeling.”

Nifty futures on the Singapore Exchange traded 82.50 points or 0.46% higher at 18,036, signalling a positive start for Dalal Street.

While those advising clients to bid in the FPO are bullish about the company's long-term prospects, analysts at several other brokerages said they do not track the company and refrained from making a recommendation. Some investment advisers, on condition of anonymity, said the current share valuation was elevated and so they were advising clients to skip the FPO.

On January 25, Indian rupee closed 13 paise higher at 81.59 per dollar against Tuesday's close of 81.72.

“You might be wondering, why isn't instant settlement like payments possible. This is because most trading volumes on the exchange are from intraday traders who buy and sell stocks without taking delivery or have the stocks to deliver immediately," said billionaire Kamath.

​One is by constantly increasing the share of EMI loans which can actually improve the overall interest income. Second thing is transmitting the increase in the cost of funds increasingly in terms of new loan disbursals.

"While the bank has made necessary arrangements to ensure normal functioning in its branches and offices on the days of strike, it is likely that work in our bank may be impacted," SBI said.

​So now this zone of 18050-18070 will act as a crucial support for today as well as tomorrow. Tomorrow we have a monthly expiry on hands and a lot of volatility could be there because post this, next week directly we will be heading into the budget.

​So overall I am positive on the banking sector in 2023. This is the start of an up cycle which could last this year before we start to see the NPA shoot back again into the bank books. However, for this year I feel the loan growth can be very strong and the banks where the deposit growth has been exceptional those are the banks that you need to really concentrate on.

“Refining business has always been the blue chip part of RIL and it has been the driver for the other two”

The company plans to use the proceeds from the fresh issue to repay outstanding loans availed by it and its subsidiary Avalon Technology and Services Pvt Ltd, and also to meet working capital requirements

Yes Bank CEO Prashant Kumar on Saturday said that the bank will challenge the high courts decision while adding that there is no compulsion on the bank to pay interest on or redeem its AT- 1 bonds. He said this while speaking with analysts on Saturday soon after the announcing quarterly results.

I think the whole portfolio recovery always takes some time because there are always legal issues and the decisions have to be taken by the appropriate judicial forums. So I think over a period of two, three years we would be able to recover fully.

Outlooks on the long-term ratings of all four banks remain stable.

During the pandemic period, we also did another excellent job, that is distributing foodgrain also, rather than just distributing cash. That helped us contain inflation," the SBI chairman said.Khara said that his and other banks have created a robust system of digital banking that help people get access to their banking needs in real time