On a sequential basis, HDFC Bank, ICICI Bank, and Axis Bank reported a faster growth in deposits for the March quarter compared with the credit growth while IndusInd Bank and Yes Bank showed marginally lower growth in deposits than advances. Synopsis While these lenders were able to increase deposits at a faster clip during the … Read more
Paytm has completed the migration of merchant customer accounts from its payment bank to other unified payments interface (UPI) after it received a go-ahead from the National Payments Corporation of India (NPCI). On April 17, One97 Communications Limited (OCL), which runs Paytm, started the customer migration to partner with payment service provider (PSP) banks Axis … Read more
With Wipro and Infosys’ results out this week, the fourth quarter earnings season will now pick up pace as the upcoming week will witness the results for Axis Bank, ICICI Prudential Life Insurance, Mahindra & Mahindra Financial Services, Tata Elxsi, along with 167 other companies. Other big players across sectors, like HUL, Indian Hotels, OFSS, … Read more
Paytm recently said that the National Payments Corporation of India (NPCI) has allowed One97 Communications (OCL) to kick-start the migration of users to a new payment service provider (PSP) the bank handles. For this, four major banks — State Bank of India (SBI), Axis Bank, HDFC Bank, and YES Bank — will act as PSPs … Read more
Nifty Bank, which hit a fresh lifetime high above 49,000 last week, has given an average return of 5% during the March quarter earnings season 7 out of 10 times in the last 10 years, says Anand James, Chief Market Strategist, Geojit Financial Services. Edited excerpts from a chat with James on the market outlook … Read more
Shares of Gland Pharma fell up to 6% to the day’s low of Rs 1,745 on BSE in Tuesday’s trade after entities related to ex-promoter Dr Ravi Penmetsa likely sold 5.5% equity in the company. Large block deals of nearly 91 lakh shares were reported today in which shares worth about Rs 1,600 crore changed … Read more
Mumbai: Overseas Indians sent home a record $29 billion by way of remittances in the December quarter as steadily climbing returns from FCNR (foreign currency – non resident) instruments have made such savings plans more lucrative than bank deposits in the West. To be sure, remittances are a source of permanent flows, unlike repatriable NRI … Read more
Axis Bank credit card users were recently affected by unauthorized international transactions despite deactivating international usage. Cardholders reported unauthorised transactions and receiving OTPs for transactions they didn’t make, including international charges on their Axis Bank credit cards. Many took to social media platforms to report the issue. So, what should you do if an unauthorized … Read more
Notwithstanding the spate of positive news flow that has taken Paytm shares 10% higher in two days, global brokerage Jefferies temporarily suspended the coverage on the fintech stock but stopped short of stopping coverage. Stating that the valuation could vary on the basis of merchant/user attrition to the tune of 10-30% and a hit to … Read more
Private largecap bank stocks like HDFC Bank, ICICI Bank, Axis Bank, and IndusInd Bank, which together form around 60% of Bank Nifty, saw Long buildup or shorts being covered on a week-on-week basis, says Anand James, Chief Market Strategist, Geojit Financial Services. “Delivery buying has started to pick up this week in the case of … Read more