News

AU Small Finance Bank jumps on entering into bancassurance tie-ups with Star Health and Bajaj Allianz AU Small Finance Bank is currently trading at Rs. 736.35, up by 11.25 points or 1.55% from its previous closing of Rs. 725.10 on the BSE. The scrip opened at Rs. 726.50 and has touched a high and low of Rs. 736.95 and Rs. 724.25 respectively. So far 17272 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 794.95 on 29-May-2023 and a 52 week low of Rs. 548.15 on 24-Mar-2023. Last one week high and low of the scrip ...
AU Small Finance Bank jumps on entering into bancassurance tie-ups with Star Health and Bajaj Allianz
AU Small Finance Bank jumps on entering into bancassurance tie-ups with Star Health and Bajaj Allianz
Source: Accord Fintech
8/09/2023 3:38:06 PM
India`s Kotak Mahindra Bank gets RBI nod for appointing interim MD, CEO India's Kotak Mahindra Bank said on Friday that the Reserve Bank of India has approved the appointment of Dipak Gupta as the interim managing director and CEO for two months. Gupta's appointment is effective after the RBI's approval. The appointment comes after billionaire Uday Kotak, who founded and led Kotak Mahindra, resigned as the managing director and CEO earlier this month, before the end of his term in December. Kotak's early exit from the country's fourth...
India`s Kotak Mahindra Bank gets RBI nod for appointing interim MD, CEO
India`s Kotak Mahindra Bank gets RBI nod for appointing interim MD, CEO
Source: Reuters
8/09/2023 10:46:48 AM
AU Small Finance Bank unveils Zenith Plus super premium credit card with unmatched luxury benefits AU Small Finance Bank is excited to introduce the Zenith + Super Premium Metal Credit Card, a new addition to its comprehensive suite of banking solutions. This super premium credit card brings forth a host of exclusive benefits that cater to diverse aspects of modern living. From seamless global travel to unlimited entertainment options, from premium lounge access to personalized concierge services, this card transforms ordinary transactions into extraordinary experiences. It is an embodi...
AU Small Finance Bank unveils Zenith Plus super premium credit card with unmatched luxury benefits
AU Small Finance Bank unveils Zenith Plus super premium credit card with unmatched luxury benefits
Source: PR Agency
6/09/2023 11:26:46 AM
India cenbank planning to introduce wholesale digital currency The Reserve Bank of India is planning to introduce wholesale a central bank digital currency (CBDC) in the call money market, an official told reporters. “RBI is now planning to go interbank borrowing market, specifically call money market,” the official said. RBI plans to use CBDCs as tokens for call money settlement, he said. India’s CBDC is currently in a pilot phase across the retail and wholesale segments. The central bank has set a target of one million transa...
India cenbank planning to introduce wholesale digital currency
India cenbank planning to introduce wholesale digital currency
Source: Reuters
5/09/2023 2:07:51 PM
Hold Kotak Mahindra Bank Ltd For Target Rs. 1,850 - Motilal Oswal Financial Services Mr. Uday Kotak steps down as MD & CEO; remains associated as non-executive director As per the meeting held on 2nd Sep’23, the board of Kotak Mahindra Bank (KMB) has informed that Mr. Uday Kotak has resigned as the MD & CEO of the bank and has become a non-executive non-independent director of the bank for a period of 5 years. He would not be liable to retire by rotation. Mr. Dipak Gupta (joint MD) would carry out MD & CEO responsibilities in the interim, subject to regul...
Hold Kotak Mahindra Bank Ltd For Target Rs. 1,850 - Motilal Oswal Financial Services
Hold Kotak Mahindra Bank Ltd For Target Rs. 1,850 - Motilal Oswal Financial Services
Source: Yes Securities Ltd
4/09/2023 4:10:47 PM
Neutral Kotak Mahindra Bank Ltd For Target Rs. 2,000 - Motilal Oswal Financial Services Mr. Uday Kotak resigns from position of MD & CEO Leadership transition begins at Kotak Bank * Mr. Uday Kotak has resigned from MD & CEO position of the bank, effective 1st Sep’23, four months ahead of schedule. He will continue to serve as a non-executive director of the bank. * Mr. Kotak, a founding member of the bank, has been part of the institution for the past 38 years. His contribution was thus pivotal in guiding the bank through its transition from being an NBFC...
Neutral Kotak Mahindra Bank Ltd For Target Rs. 2,000 - Motilal Oswal Financial Services
Neutral Kotak Mahindra Bank Ltd For Target Rs. 2,000 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
4/09/2023 3:43:43 PM
Buy Axis Bank Ltd For Target Rs. 1,175 - Motilal Oswal Financial Services Laying the foundation for sustainable growth FY23 consol RoE improves to 18.8% * Axis Bank’s (AXSB) annual report highlights the bank’s focus on strengthening its retail franchise and investing in its distribution network and technological capabilities. The bank has laid special emphasis on increasing the mix of retail deposits. In FY23, it reported 21% growth in CASA deposits, surpassing its peers. This facilitated a 100bp improvement in the daily average CASA mix, reachin...
Buy Axis Bank Ltd For Target Rs. 1,175 - Motilal Oswal Financial Services
Buy Axis Bank Ltd For Target Rs. 1,175 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
4/09/2023 3:36:01 PM
Punjab & Sind Bank zooms on planning to raise Rs 250 crore via share sale to institutional investors Punjab & Sind Bank is currently trading at Rs. 36.86, up by 2.09 points or 6.01% from its previous closing of Rs. 34.77 on the BSE. The scrip opened at Rs. 34.90 and has touched a high and low of Rs. 36.99 and Rs. 34.90 respectively. So far 151777 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 44.65 on 15-Dec-2022 and a 52 week low of Rs. 14.65 on 27-Sep-2022. Last one week high and low of the scrip stood ...
Punjab & Sind Bank zooms on planning to raise Rs 250 crore via share sale to institutional investors
Punjab & Sind Bank zooms on planning to raise Rs 250 crore via share sale to institutional investors
Source: Accord Fintech
4/09/2023 12:14:27 PM
Uday Kotak resigns as chief executive of Kotak Mahindra Bank Uday Kotak has resigned as the managing director and chief executive of Kotak Mahindra Bank, the bank said in a stock exchange filing on Saturday. Dipak Gupta, currently the joint managing director, will carry out the chief executive duties until 31 December, the bank added. It did not give a reason for Kotak's resignation.
Uday Kotak resigns as chief executive of Kotak Mahindra Bank
Uday Kotak resigns as chief executive of Kotak Mahindra Bank
Source: Reuters
2/09/2023 3:10:53 PM
Buy Axis Bank Ltd For Target Rs. 1,175 - Motilal Oswal Financial Services Laying the foundation for sustainable growth FY23 consol RoE improves to 18.8% * Axis Bank’s (AXSB) annual report highlights the bank’s focus on strengthening its retail franchise and investing in its distribution network and technological capabilities. The bank has laid special emphasis on increasing the mix of retail deposits. In FY23, it reported 21% growth in CASA deposits, surpassing its peers. This facilitated a 100bp improvement in the daily average CASA mix, reachin...
Buy Axis Bank Ltd For Target Rs. 1,175 - Motilal Oswal Financial Services
Buy Axis Bank Ltd For Target Rs. 1,175 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2/09/2023 2:45:04 PM
Banking Sector Update : Jul`23 sectoral credit deployment: Adjusted non-food credit growth moderates to 14.8% YoY - ICICI Securities Jul’23 sectoral credit deployment: Adjusted non-food credit growth moderates to 14.8% YoY Banks’ sectoral credit deployment data for Jul’23 (as of 28 Jul’23) suggests non-food credit stands at INR 147.8trn, up 19.8% YoY on reported basis. However, the reported July’23 data includes the impact of merger of a non-bank with a bank, hence is not comparable. Adjusted for the merger, we calculate non-food credit systemic growth stands at 14.8% YoY and -1.4% MoM. The...
Banking Sector Update : Jul`23 sectoral credit deployment: Adjusted non-food credit growth moderates to 14.8% YoY - ICICI Securities
Banking Sector Update : Jul`23 sectoral credit deployment: Adjusted non-food credit growth moderates to 14.8% YoY - ICICI Securities
Source: ICICI Securities Ltd
2/09/2023 12:57:41 PM
BFSI Sector Update : Growth trending well, but could El-Nino be a party spoiler By Emkay Global Financial Credit growth running ahead of expectation, led by unsecured retail and corporate credit pick-up The Indian banking system’s growth remains robust at 14.9% YoY (ex-HDFCL) for the fortnight ended August 11, 2023 (vs. 14.7% YoY for the previous fortnight); and if the current momentum continues, it could surpass the earlier expected 12% growth in FY24. The current credit momentum is supported by aggressive growth in unsecured loans (incl. PL and Cards) as banks remain pro-risk, while un...
BFSI Sector Update : Growth trending well, but could El-Nino be a party spoiler By Emkay Global Financial
BFSI Sector Update : Growth trending well, but could El-Nino be a party spoiler By Emkay Global Financial
Source: Emkay Global Financial Services
1/09/2023 12:52:43 PM
Buy AU Small Finance Bank For Target Rs .825 - Motilal Oswal Financial Services Playing for the long innings – Earnings growth to accelerate from FY25; Upgrade to BUY * AUBANK delivered an impressive 54%/34% CAGR in deposits/loans over FY18-23. It has evolved as a strong franchise not just in the SFB segment but in the overall mid-cap banking space. * Scale-up of new products, widening geographical reach, aggressive investments in technology and thrust on physical expansion should support long-term growth. We estimate the bank to maintain industry-leading loa...
Buy AU Small Finance Bank For Target Rs .825 - Motilal Oswal Financial Services
Buy AU Small Finance Bank For Target Rs .825 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
30/08/2023 11:47:27 AM
Central Bank of India rises on entering into strategic Co-Lending Partnership with M/s IKF Finance Central Bank of India is currently trading at Rs. 35.35, up by 0.24 points or 0.68% from its previous closing of Rs. 35.11 on the BSE. The scrip opened at Rs. 35.71 and has touched a high and low of Rs. 35.80 and Rs. 35.30 respectively. So far 466435 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 41.80 on 14-Dec-2022 and a 52 week low of Rs. 18.65 on 28-Sep-2022. Last one week high and low of the scrip stood a...
Central Bank of India rises on entering into strategic Co-Lending Partnership with M/s IKF Finance
Central Bank of India rises on entering into strategic Co-Lending Partnership with M/s IKF Finance
Source: Accord Fintech
30/08/2023 11:13:59 AM
Banking Sector Update : Fresh WALR movement volatile; fresh WADTDR rises after a dip in past 2 months - ICICI Securities Fresh WALR movement volatile; fresh WADTDR rises after a dip in past 2 months The monthly data on lending and deposit rates of scheduled commercial banks (SCBs) (excl. regional rural banks and small finance banks) for Jun’23 suggests: 1) SCBs’ WALR increased for the 14th consecutive month while WALR on fresh loans remains volatile, 2) O/s WADTDR continues its upward movement, 3) Fresh WADTDR also rises MoM after a drop in the past 2 consecutive months, 4) SCBs’ spread on ...
Banking Sector Update : Fresh WALR movement volatile; fresh WADTDR rises after a dip in past 2 months - ICICI Securities
Banking Sector Update : Fresh WALR movement volatile; fresh WADTDR rises after a dip in past 2 months - ICICI Securities
Source: ICICI Securities
28/08/2023 11:45:47 AM
India considers raising retirement age for state-owned bank bosses India is considering raising the retirement age for chairmen and managing directors of state-owned banks, which control over 60% of the banking system's assets, a government official said on Saturday. The proposal under consideration is to raise the age limit for the chairman of the country's largest lender, State Bank of India (SBI), to 65 years from 63 years, and that for managing directors of other state-owned banks to 62 years from 60, the official said. SBI is governed by s...
India considers raising retirement age for state-owned bank bosses
India considers raising retirement age for state-owned bank bosses
Source: Reuters
27/08/2023 9:06:17 AM
YES BANK collaborates with Zaggle to launch Next-Gen Corporate Credit Card  YES BANK announced the launch of an innovative co-branded Corporate Credit Card in collaboration with Zaggle, a leading player in spend management, with a differentiated value proposition and diversified user base. Christened ‘YES BANK Zaggle Corporate Credit Card’, the proposition marks a significant step in YES BANK’s journey towards ushering in a digital revolution by empowering businesses to reimagine their payment processes, streamline reconciliation, and effic...
YES BANK collaborates with Zaggle to launch Next-Gen Corporate Credit Card
YES BANK collaborates with Zaggle to launch Next-Gen Corporate Credit Card
Source: PR Agency
25/08/2023 7:15:36 PM
Bandhan Bank trades higher on the BSE Bandhan Bank is currently trading at Rs. 235.85, up by 0.95 points or 0.40% from its previous closing of Rs. 234.90 on the BSE. The scrip opened at Rs. 234.40 and has touched a high and low of Rs. 238.00 and Rs. 233.10 respectively. So far 274591 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 314.75 on 15-Sep-2022 and a 52 week low of Rs. 182.20 on 28-Mar-2023. Last one week high and low of the scrip stood at ...
Bandhan Bank trades higher on the BSE
Bandhan Bank trades higher on the BSE
Source: Accord Fintech
25/08/2023 12:07:39 PM
Indian banks` dividend to rise to at least 7-year high in FY24 - S&P report  Indian banks' aggregate dividend payout to shareholders is set to rise to its highest level in at least seven years in 2023-2024, helped by strong business metrics and healthy credit growth, a report from S&P Global Market Intelligence showed. India's brisk economic activity will likely "sustain high credit growth," resulting in "excellent" earnings forecasts for banks," Tusharika Aggarwal, a dividend forecasting research analyst at S&P Global...
Indian banks` dividend to rise to at least 7-year high in FY24 - S&P report
Indian banks` dividend to rise to at least 7-year high in FY24 - S&P report
Source: Reuters
24/08/2023 4:57:04 PM
Indian banks set to reward shareholders with the highest dividend in seven years Indian banks look set to reward shareholders with the highest dividend in at least seven years. The country's banks are forecast to take their share in aggregate payout across all sectors to 13% for the year ending March 31, 2024, according to S&P Global Market Intelligence. This is up from 12 per cent for the fiscal year ended March 31, 2023, and 9 per cent in the year ended March 31, 2022. This is a sharp rebound from just 1 per cent in 2020, when the Reserve Bank of India ask...
Indian banks set to reward shareholders with the highest dividend in seven years
Indian banks set to reward shareholders with the highest dividend in seven years
Source: IANS
24/08/2023 2:34:45 PM
Bandhan Bank gains on planning to enter into co-lending business Bandhan Bank is currently trading at Rs. 237.80, up by 0.75 points or 0.32% from its previous closing of Rs. 237.05 on the BSE. The scrip opened at Rs. 238.05 and has touched a high and low of Rs. 240.70 and Rs. 237.50 respectively. So far 170154 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 314.75 on 15-Sep-2022 and a 52 week low of Rs. 182.20 on 28-Mar-2023. Last one week high and low of the scrip stood at ...
Bandhan Bank gains on planning to enter into co-lending business
Bandhan Bank gains on planning to enter into co-lending business
Source: Accord Fintech
24/08/2023 11:36:46 AM
Axis Bank zooms on partnering with Cleartrip Axis Bank is currently trading at Rs. 978.20, up by 20.75 points or 2.17% from its previous closing of Rs. 957.45 on the BSE. The scrip opened at Rs. 960.60 and has touched a high and low of Rs. 980.30 and Rs. 958.05 respectively. So far 458916 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 989.90 on 30-Jun-2023 and a 52 week low of Rs. 706.00 on 28-Sep-2022. Last one week high and low of the scrip stood at Rs....
Axis Bank zooms on partnering with Cleartrip
Axis Bank zooms on partnering with Cleartrip
Source: Accord Fintech
23/08/2023 3:40:36 PM
Buy Bandhan Bank Ltd Target Rs. 269 - Geojit Financial Services Sluggish earnings, however outlook intact Bandhan Bank operates as a commercial bank, offering checking accounts, savings deposits, and money market, mortgage, and term loan services, in addition to card facilities and Internet banking services • Net interest income (NII) remained flat sequentially, at Rs 2,491cr in Q1FY24 (+0.8% QoQ and -0.9% YoY), impacted by higher interest expenses and slippages. • Gross non-performing assets (GNPA)/net non-performing assets (NNPA) rati...
Buy Bandhan Bank Ltd Target Rs. 269 - Geojit Financial Services
Buy Bandhan Bank Ltd Target Rs. 269 - Geojit Financial Services
Source: Geojit Financial Services
22/08/2023 3:33:58 PM
Banking Sector Update : Strategic asset liability management and other factors to protect BoB`s margin By YES Securities Strategic asset liability management and other factors to protect BoB’s margin We took a closer look at the asset-liability management and other aspects of all our coverage banks and drew the following key conclusions (1) No largecap bank has positioned its deposits book for a turn in the rate cycle in the manner in which BoB has (2) The rise in share of short-term deposits for BoB has not been accompanied by a similar decline in share of retail LCR deposits (3) While share of retail...
Banking Sector Update : Strategic asset liability management and other factors to protect BoB`s margin By YES Securities
Banking Sector Update : Strategic asset liability management and other factors to protect BoB`s margin By YES Securities
Source: Yes Securities Ltd
22/08/2023 2:40:31 PM
Satin Creditcare Network trades higher on raising Rs 20 crore through NCDs Satin Creditcare Network is currently trading at Rs. 211.95, up by 3.10 points or 1.48% from its previous closing of Rs. 208.85 on the BSE. The scrip opened at Rs. 209.90 and has touched a high and low of Rs. 214.70 and Rs. 209.90 respectively. So far 15610 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 231.70 on 10-Aug-2023 and a 52 week low of Rs. 107.05 on 29-Aug-2022. Last one week high and low of the scri...
Satin Creditcare Network trades higher on raising Rs 20 crore through NCDs
Satin Creditcare Network trades higher on raising Rs 20 crore through NCDs
Source: Accord Fintech
22/08/2023 12:02:49 PM
India`s banking system liquidity slips into deficit first time in FY24 India's banking system liquidity has slipped into deficit for the first time this financial year after the Reserve Bank of India's temporary liquidity withdrawal move and tax outflows. Banking system liquidity stood at a deficit or 236 billion rupees ($2.84 billion) as of Aug. 21, according to RBI data. Surplus had hit a high of 2.8 trillion rupees at the start of this month, but has since been dropping, especially after the RBI told banks to hold an incremental cash reserve rat...
India`s banking system liquidity slips into deficit first time in FY24
India`s banking system liquidity slips into deficit first time in FY24
Source: Reuters
22/08/2023 9:32:15 AM
Small Cap : Buy Bank of Baroda Ltd For Target Rs. 217 - Geojit Financial Services Healthy asset quality, positive outlook Bank of Baroda (BoB) is a public-sector banking and financial services company in India. It has 8,205 branches in India and 93 offices in 17 foreign countries. • Net interest income (NII) increased 24.4% YoY to Rs. 10,997cr in Q1FY24, led by strong growth in yield on advances, moderated by an increase in the cost of deposits. • GNPA/NNPA ratios improved to 3.5%/0.8% (vs 3.8%/0.9% in Q4FY23). • Strong growth in advances and dep...
Small Cap : Buy Bank of Baroda Ltd For Target Rs. 217 - Geojit Financial Services
Small Cap : Buy Bank of Baroda Ltd For Target Rs. 217 - Geojit Financial Services
Source: Geojit Financial Services
19/08/2023 11:31:21 AM
Indian Government bond yield curve to steepen over medium term - DBS Bank`s Ashhish Vaidya India's flat government bond yield curve will steepen over the medium term as elevated inflation falls back within the central bank's comfort zone in a few months and prompts short-end debt purchase, the treasury head of DBS Bank India said on Friday. Separately, the benchmark 10-year bond yield, which is near its peak, is unlikely to sustain a breach of the crucial 7.25% mark in the near term, said Ashhish Vaidya, managing director and head of treasury and markets. "The be...
Indian Government bond yield curve to steepen over medium term - DBS Bank`s Ashhish Vaidya
Indian Government bond yield curve to steepen over medium term - DBS Bank`s Ashhish Vaidya
Source: Reuters
18/08/2023 12:59:41 PM
Banking Sector Update : Compendium - Q1FY24 earnings call takeaways ICICI Securities We present the earnings conference call compendium which has the detailed takeaways from Q1FY24. The underlying discussion revolved around NIMs trajectory, growth outlook, opex / attrition and sustainability of the current benign credit cost cycle. Investors / analysts also discussed the incremental costs of deposits / funds and the extent of re-pricing of the existing base to understand the steepness of the NIMs decline ahead. On growth side, there were more discussion on bank-specific growt...
Banking Sector Update : Compendium - Q1FY24 earnings call takeaways ICICI Securities
Banking Sector Update : Compendium - Q1FY24 earnings call takeaways ICICI Securities
Source: ICICI Securities
18/08/2023 11:50:51 AM
Yes Bank gains on introducing mobile banking app `iris by YES BANK` Yes Bank is currently trading at Rs. 17.02, up by 0.03 points or 0.18% from its previous closing of Rs. 16.99 on the BSE. The scrip opened at Rs. 17.00 and has touched a high and low of Rs. 17.18 and Rs. 17.00 respectively. So far 3518746 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 24.75 on 14-Dec-2022 and a 52 week low of Rs. 14.40 on 13-Mar-2023. Last one week high and low of the scrip stood at Rs. 17.39 a...
Yes Bank gains on introducing mobile banking app `iris by YES BANK`
Yes Bank gains on introducing mobile banking app `iris by YES BANK`
Source: Accord Fintech
18/08/2023 10:33:02 AM
Buy Canara Bank Ltd For Target Price Rs. 400/430 - LKP Securities Future Outlook • The PSU banking major has been reporting consistent growth since the last 12 quarters with improvement in Asset Quality and should be able to bring down credit cost to a shade over 1% this fiscal. • Its huge Loan Book should in our view grow at a CAGR of 15% going forward led by RAM & Corporate Book. Technical Commentary • CanBank has been moving with a higher top higher bottom formation on the weekly chart. • Besides, it has been sustai...
Buy Canara Bank Ltd For Target Price Rs. 400/430 - LKP Securities
Buy Canara Bank Ltd For Target Price Rs. 400/430 - LKP Securities
Source: LKP Securities Ltd
17/08/2023 3:07:17 PM
Banks` lending to NBFCs rises 35.1% to Rs 14.2 lakh crore in June 2023: Care Ratings Care Ratings in its latest report has said that banks' lending to non-banking finance companies (NBFCs) rose by a robust 35.1 per cent to Rs 14.2 lakh crore in June 2023, indicating non-banking finance firms' decreased reliance on international borrowings. This also pushed up NBFCs' share in overall credit from 8.5 per cent in June 2022 to 9.9 per cent in the reporting month.  According to the report, mutual funds' debt exposure to NBFCs, including through commercial p...
Banks` lending to NBFCs rises 35.1% to Rs 14.2 lakh crore in June 2023: Care Ratings
Banks` lending to NBFCs rises 35.1% to Rs 14.2 lakh crore in June 2023: Care Ratings
Source: Accord Fintech
17/08/2023 12:10:28 PM
IndusInd Bank rises on launching `IndusInd Bank Avios Visa Infinite Credit Card` IndusInd Bank is currently trading at Rs. 1386.75, up by 5.70 points or 0.41% from its previous closing of Rs. 1381.05 on the BSE. The scrip opened at Rs. 1372.10 and has touched a high and low of Rs. 1388.40 and Rs. 1372.10 respectively. So far 10983 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1446.35 on 25-Jul-2023 and a 52 week low of Rs. 990.25 on 1-Feb-2023. Last one week high and low of the scrip stoo...
IndusInd Bank rises on launching `IndusInd Bank Avios Visa Infinite Credit Card`
IndusInd Bank rises on launching `IndusInd Bank Avios Visa Infinite Credit Card`
Source: Accord Fintech
17/08/2023 11:21:43 AM
Indian banks` operating environment strengthens as Covid-19 risks ebb: Fitch Ratings Fitch Ratings has said the operating environment for Indian banks has strengthened as economic risks associated with the Covid-19 pandemic have ebbed. It said India was badly affected by the pandemic, but the associated risks have now receded. The easing of pandemic-related risks has been accompanied by a strengthening of capital buffers. It also said a number of prudential indicators for the sector have also improved compared to pre-pandemic levels, and the operating environment score con...
Indian banks` operating environment strengthens as Covid-19 risks ebb: Fitch Ratings
Indian banks` operating environment strengthens as Covid-19 risks ebb: Fitch Ratings
Source: Accord Fintech
17/08/2023 10:31:26 AM
Indian banks` operating environment stronger, but structural issues continue to affect - Fitch Ratings The operating environment (OE) for Indian banks has strengthened as economic risks associated with the Covid-19 pandemic have ebbed, Fitch Ratings said in a report on Wednesday. Fitch also said other structural issues like lengthy legal process, 'bad bank’ not playing a meaningful role hamper the OE. While the number of prudential indicators for the sector have also improved compared with pre-pandemic levels, though growing risk appetite in a relatively benign OE highlights th...
Indian banks` operating environment stronger, but structural issues continue to affect - Fitch Ratings
Indian banks` operating environment stronger, but structural issues continue to affect - Fitch Ratings
Source: IANS
16/08/2023 3:30:01 PM
Punjab & Sind Bank surges on planning to double ATM network in next two years Punjab & Sind Bank is currently trading at Rs. 34.17, up by 0.40 points or 1.18% from its previous closing of Rs. 33.77 on the BSE. The scrip opened at Rs. 33.99 and has touched a high and low of Rs. 35.20 and Rs. 33.31 respectively. So far 265282 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 44.65 on 15-Dec-2022 and a 52 week low of Rs. 14.65 on 27-Sep-2022. Last one week high and low of the scrip stood ...
Punjab & Sind Bank surges on planning to double ATM network in next two years
Punjab & Sind Bank surges on planning to double ATM network in next two years
Source: Accord Fintech
16/08/2023 2:56:36 PM
Buy Bank of Baroda Ltd For Target Rs. 250/265 - LKP Securities Ltd Future Outlook • We pick BOB to play the PSU banking theme due to its strong growth in both Advances & Deposits on the back of a healthy liquidity position and attractive valuations. • Lower slippages and improving asset quality with higher provision coverage gives us confidence on the banks ability to leverage it’s strong customer franchise and reach. • Granular liability profile coupled with competitive cost of funds should in our view help the bank going f...
Buy Bank of Baroda Ltd For Target Rs. 250/265 - LKP Securities Ltd
Buy Bank of Baroda Ltd For Target Rs. 250/265 - LKP Securities Ltd
Source: LKP Securities Ltd
15/08/2023 3:59:58 PM
Federal Bank hikes Deposit Rates for Independence Day Federal Bank has announced a hike in interest rates for deposits with effect from 15th August 2023. This special rate enhancement aligns with the spirit of 77th  Independence Day, with an impressive 77 basis points higher than the standard rate for senior citizens for selected periods.   The term deposit rate for a tenure of 13 months would fetch interest rates of 7.30% for general category and 8.07% for senior citizens. The enhanced rates would...
Federal Bank hikes Deposit Rates for Independence Day
Federal Bank hikes Deposit Rates for Independence Day
Source: PR Agency
14/08/2023 6:27:32 PM
DBS commits UP to SGD 1 billion over next 10 Years to step UP support for vulnarable communities and catalyse Social Impact DBS today announced it will commit up to SGD 1 billion over the next 10 years to improve the lives and livelihoods of the low-income and underserved and foster a more inclusive society. The bank will deploy SGD 100 million each year in Singapore and its other key markets with effect from 2024. This commitment augments existing community initiatives by the bank and the DBS Foundation.   The funds will primarily go towards programmes that aim to support the more vulnerable ...
DBS commits UP to SGD 1 billion over next 10 Years to step UP support for vulnarable communities and catalyse Social Impact
DBS commits UP to SGD 1 billion over next 10 Years to step UP support for vulnarable communities and catalyse Social Impact
Source: PR Agency
14/08/2023 2:38:01 PM
Indian Bank commences the 117th Foundation Day Celebration with a Curtain Raiser event Indian Bank, a beacon of trust and service, commemorates its 117th year of excellence with a grand celebration that began yesterday with a curtain-raiser event at its corporate office. The event was organised as a precursor to the bank’s foundation day on August 15, 2023. The event which was inaugurated by Managing Director & CEO, Shri. S L Jain resonated with the spirit of unity, culture, and patriotism. The curtain raiser event featured a captivating array o...
Indian Bank commences the 117th Foundation Day Celebration with a Curtain Raiser event
Indian Bank commences the 117th Foundation Day Celebration with a Curtain Raiser event
Source: PR Agency
13/08/2023 2:12:02 PM
Quote on ONDC which can have a longer-term impact on the business model of banks and NBFCs by Mr. Kaushik Mehta, Ruloans Distribution Below the Quote on ONDC which can have a longer-term impact on the business model of banks and NBFCs from Mr. Kaushik Mehta, Founder & CEO of Ruloans Distribution Pvt Ltd.   The Reserve Bank of India has taken into cognizance the upside risks to inflation emerging from higher global food prices accruing from adverse climate events and also the recent hardening in crude oil prices. MPC has revised its average inflation forecast to 5.4% in FY24 from 5.1% earli...
Quote on ONDC which can have a longer-term impact on the business model of banks and NBFCs by Mr. Kaushik Mehta, Ruloans Distribution
Quote on ONDC which can have a longer-term impact on the business model of banks and NBFCs by Mr. Kaushik Mehta, Ruloans Distribution
Source: PR Agency
12/08/2023 3:41:01 PM
Buy Bank of Baroda Ltd For Target Rs. 239 - LKP Securities Ltd Result and Price Analysis In 1QFY24, Bank of Baroda (BOB) has delivered an expected result on operating and asset quality front. The fresh slippages were slightly higher at ?24.5bn v/s ?22.4bn in 4QFY23. Furthermore, the reduction (up-gradation & recovery) stood ?47bn v/s ?78bn in the previous quarter. It reported GNPA (3.51% v/s 4.79% in 4QFY23) and NNPA (0.78% v/s 0.89% in 4QFY23) declined substantially along with higher PCR (incl. TWO) of 93%. The bank has witnessed robust growth in ne...
Buy Bank of Baroda Ltd For Target Rs. 239 - LKP Securities Ltd
Buy Bank of Baroda Ltd For Target Rs. 239 - LKP Securities Ltd
Source: LKP Securities Ltd
12/08/2023 3:09:25 PM
India central bank may tighten cash conditions, but CRR hike unlikely -traders The Reserve Bank of India may look to tighten domestic rupee liquidity to quell inflationary pressures but will refrain from permanent cash withdrawal, several traders and analysts said ahead of Thursday's monetary policy review. The central bank is expected to hold policy rates steady but could turn more hawkish given that inflation in July is likely to have risen above its comfort band. Reducing surplus liquidity, which could fuel inflation, could be one way of signalling a toughe...
India central bank may tighten cash conditions, but CRR hike unlikely -traders
India central bank may tighten cash conditions, but CRR hike unlikely -traders
Source: Reuters
9/08/2023 3:22:27 PM
Buy State Bank of India Ltd For Target Rs. 743 - LKP Securities Ltd Result and Price Analysis Result and Price Analysis State Bank of India (SBIN) has delivered a stable result on operating and assets quality front. It’s reported GNPA (2.76% v/s 2.78% in 4QFY23) and NNPA (0.71% v/s 0.67% in 4QFY23) holds steady with stable PCR (incl. AUCA) of 92%. Furthermore SMA1/2 (33bps v/s 8bps) increased sequentially. The bank has witnessed better than expected advance growth (15% YoY & 1.1% QoQ) led by growth across segment and steady deposit base (12% YoY ...
Buy State Bank of India Ltd For Target Rs. 743 - LKP Securities Ltd
Buy State Bank of India Ltd For Target Rs. 743 - LKP Securities Ltd
Source: LKP Securities Ltd
9/08/2023 2:38:33 PM
Federal Bank Expands Its Footprint in Navi Mumbai with the Inauguration of its Branch in Ghansoli Federal Bank announced the grand inauguration of its 166th branch in the Mumbai Zone of the Bank taking the total to 1387 banking outlets.     The auspicious inauguration ceremony took place with esteemed dignitaries gracing the occasion. Shri Satyavan Ubale, Chief Accounts & Finance Officer (Navi Mumbai Municipal Corp), inaugurated the branch, Shri K R Gopi, President of the TTC-MIDC Industries Association, inaugurated the ATM at the branch, and Shri Pratap Tham...
Federal Bank Expands Its Footprint in Navi Mumbai with the Inauguration of its Branch in Ghansoli
Federal Bank Expands Its Footprint in Navi Mumbai with the Inauguration of its Branch in Ghansoli
Source: PR Agency
9/08/2023 2:27:32 PM
Central Bank of India rises on entering into strategic Co-Lending Partnership with DMI Housing Finance Central Bank of India is currently trading at Rs. 31.10, up by 0.24 points or 0.78% from its previous closing of Rs. 30.86 on the BSE. The scrip opened at Rs. 30.90 and has touched a high and low of Rs. 31.54 and Rs. 30.86 respectively. So far 1535827 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 41.80 on 14-Dec-2022 and a 52 week low of Rs. 17.65 on 10-Aug-2022. Last one week high and low of the scrip stood ...
Central Bank of India rises on entering into strategic Co-Lending Partnership with DMI Housing Finance
Central Bank of India rises on entering into strategic Co-Lending Partnership with DMI Housing Finance
Source: Accord Fintech
9/08/2023 2:22:33 PM
Utkarsh Small Finance Bank Limited announces its results for Quarter ended June 30,2023 The Board of Directors of Utkarsh Small Finance Bank Limited approved the financial results for the quarter ended June 30, 2023, at the Board meeting held on 8th August, 2023. Key highlights of the Q1, FY 2023-24 Results: * Loan portfolio grew by 31.4% YoY to ?14,394 crore * Deposits grew by 35.6% YoY to ?13,967 crore * Strong Asset Quality with net NPAs at 0.33% as on June 30, 2023 * Profit after tax increased by 20% YoY to ?107.50 crore in Q1, FY24 * Return ...
Utkarsh Small Finance Bank Limited announces its results for Quarter ended June 30,2023
Utkarsh Small Finance Bank Limited announces its results for Quarter ended June 30,2023
Source: PR Agency
9/08/2023 11:26:21 AM
Central Bank of India gains on entering into partnership with Clix Capital Services Central Bank Of India is currently trading at Rs. 30.17, up by 0.27 points or 0.90% from its previous closing of Rs. 29.90 on the BSE. The scrip opened at Rs. 29.88 and has touched a high and low of Rs. 30.58 and Rs. 29.87 respectively. So far 548856 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 41.80 on 14-Dec-2022 and a 52 week low of Rs. 17.65 on 10-Aug-2022. Last one week high and low of the scrip stood a...
Central Bank of India gains on entering into partnership with Clix Capital Services
Central Bank of India gains on entering into partnership with Clix Capital Services
Source: Accord Fintech
8/08/2023 1:41:35 PM