Systemic loan growth touches yet another new high at 17.9% YoY for the fortnight ended Oct 7, 2022 (v/s 16.4% in the previous fortnight). The last time systemic loan reported ~18% YoY growth was in Sep’13. The outstanding credit base stood at Rs128.6t. Loan growth picked up in Oct’21 and has witnessed one-way robust growth … Read more
New Delhi: Shares of zoomed as much as 11 per cent during the early trade on Monday, despite the weakness in the global markets, as the government invited bids for the strategic disinvestment of the lender. The Finance Ministry on Friday invited expression of interest (EoI) for strategic disinvestment in IDBI Bank, a move which … Read more
Even as banking stocks witnessed strong momentum in recent months, brokerage Kotak Institutional Equities suggests that the valuation of stocks from the sector is still not expensive. Public and private banks are still either close to their long-term averages or marginally higher, it said. “Public banks are just marginally higher than where they were pre-Covid … Read more
Technical analysts see the Nifty finding resistance around 17,800 this week. Banking stocks are looking strong on technical charts ahead of the Reserve Bank of India’s monetary policy meeting outcome on Thursday, they said. The Nifty ended last week with a gain of 2.4% after a positive reaction to Budget announcements. The index ended down … Read more
Abhimanyu Sofat, VP-Research, IIFL, explains why he thinks it makes sense to increase allocation in private sector banks as well as SBI. He is also bullish on metal stocks for the next 3-4 months. Edited excerpts from an interview. What would be the key highlights from some of the numbers and guidance that IT companies … Read more