Stocks in the news: Torrent Pharma, Bharti Airtel, Union Bank, Century Tex, Vimta Labs Bharti Airtel | Torrent Pharma | Transformers & Rectifiers | Rama Steel and Bank of Maharashra are stocks which are in news today.
Trade Setup for Wednesday: Top 15 things to know before Opening Bell According to the pivot charts, key support level for Nifty is placed at 11,081.47, followed by 11,036.53. If the index starts moving up, key resistance levels to watch out for are 11,202.57 and 11,278.73.
Smallcap stocks take a beating; Over 100 stocks fell 10-30% in 4 days This week market witnessed profit booking post huge rally of ~8 percent on account of a corporate tax cut. The cut in repo rate by RBI didn’t inspire confidence to investors
Andhra Bank board okays merger with Union Bank Finance Minister Nirmala Sitharaman recently announced the merger of Oriental Bank of Commerce and UnitedBankwith Punjab National Bank, Syndicate Bank with Canara Bank, while Andhra Bank and Corporation Bank would merged with Union Bank of India.
Market Headstart: Nifty likely to open flat; United Spirits, Siemens top buys Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 41 points gain or 0.37 percent. Nifty futures were trading around 11,012-level on the Singaporean Exchange.
Explained: Here's a checklist to track if your bank is getting merged Punjab National Bank, Union Bank of India, Canara Bank and Indian Bank are the anchor banks and customers of these banks will not be affected.
Union Bank board okays merger of Andhra, Corp Bank with itself; clears Rs 17,200-cr capital infusion The board "considered and given its in-principle approval for the amalgamation of Andhra Bank and Corporation Bank into Union Bank.
Bank mergers: Here is how the insurance JVs and policy holders will be impacted In cases where one bank promotes two insurers in same category post merger, the companies will either have to be merged or sold
'Equity market selloff has boosted demand for Gold and Silver' The overall demand for Gold and silver investments have also increased in the current period to an all-time high, due to volatile Indian equity markets and further concerns about the health of the Indian economy.
After big bang PSU banks merger, what should investors do and which stocks to buy? Abhimanyu Sofat of IIFL Securities said merger of relatively better run Indian Bank with Allahabad Bank is disappointing.
Buzzing stocks: PSB stocks crack up to 9%; Nifty PSU Bank index falls 4% The weakness seems to be a fallout of the government's announcement of merger of 10 PSBs into four on August 30 and the worries stemming from the move.
Market Headstart: Nifty likely to open gap-up; Tata Elxsi, BEL top buys Trends on SGX Nifty indicate a positive opening for the broader index in India, with 0.56 percent loss or 61 points. Nifty futures were trading around 10,890-level on the Singaporean Exchange.
Banks take co-lending route with NBFCs to boost retail, SME loans In April, SBI announced tie-up with Paisalo Digital for disbursement of loans with ticket size of Rs 10,000 to Rs 2 lakh in agriculture and small and medium enterprises.
Asset quality woes may dampen investor appetite for public sector banks While Yes Bank fund raising may have helped in restoring confidence in the banking sector to some extent, the story may vary for other lenders, especially state-run banks.
Banking wrap: Banks cut interest rates on loans after RBI policy review; DHFL submits resolution plan to lenders NBFCs line up public bond issuances; RBI slaps fines on 11 banks for delay in reporting fraud
Bank of India cuts MCLR by 25 basis points from August 10 Union Bank of India also said that it expects MCLR to ease by 15 basis points going ahead. It plans to link its home and auto loan portfolios to RBI’s repo rate, as against MCLR presently.
Stocks in the news: ITC, RIL, Nestle, NIIT, Coffee Day, DHFL, Union Bank, Bata India, JK Cement Nestle India | NIIT | Coffee Day Enterprises | DHFL | Union Bank | Bata India and JK Cement are stocks which are in the news today.
Trade Setup for Monday: Top 15 things to know before Opening Bell Jimeet Modi of SAMCO Securities said volatility has increased giving intraday traders good opportunities provided they are on the right side of the market
Banking wrap: State-owned banks gear up to raise equity, SBI says limited room for improvement in margins The RBI slapped fine on eight public sector banks for violating norms on fraud classification, bill discounting and monitoring of end use of funds
Union Bank of India to raise Rs 3,000 crore via QIP in Q3 The state-owned bank will take the Qualified Institutional Placement (QIP) route for fund raising and has started the process of shortlisting advisors, the bank’s MD and CEO Rajkiran Rai G said on August 2.
RBI slaps fine on eight public sector banks for violating norms Bank of Baroda, Bank of India, Indian Overseas Bank and Union Bank of India were fined Rs 1.5 crore each, while Allahabad Bank and Bank of Maharashtra were penalised Rs 2 crore each. Oriental Bank of Commerce was penalised with Rs 1 crore, the RBI said.
Further rise in volatility cannot be ruled out; Here’s why Infosys & Dabur are top buy ideas Next support for the market is seen at 11,000-10950 levels. Breaking below this, the next level is at 10,800.
Stocks in the news: Axis Bank, Hero Moto, Tech Mahindra, DHFL, JSW Steel, Gujarat Gas, Alkem Tech Mahindra | DHFL | JSW Steel | Gujarat Gas | Alkem Labs | Dish TV | Shoppers Stop and Vinati Organics are stocks which are in the news today.