Looking for attractive valuation plus strong fundamentals? Financials is the answer, says Ramesh Mantri

Looking for attractive valuation plus strong fundamentals? Financials is the answer, says Ramesh Mantri

Ramesh Mantri, CIO, WhiteOak Capital AMC, says when we look at combined fundamentals and valuation, there are some sectors where fundamentals are very strong, but valuation is very high like industrials, capex related and then smaller industry segments like defence, electronics and manufacturing. The fundamental corporate earnings have been good but the valuation is high. … Read more

Seeking loan from banks, SFBs? RBI asks banks, REs to mention all charges in Key Fact Statement

Seeking loan from banks, SFBs? RBI asks banks, REs to mention all charges in Key Fact Statement

The Reserve Bank of India (RBI) has directed all banks and regulated entities that it cannot levy additional fees on loans that are not previously disclosed in the Key Fact Statement (KFS). It said that from October 1, 2024, banks will be bound by the terms of the loan indicated in the Key Fact Statement … Read more

TCS on overseas credit card spends likely in the next Budget

TCS on overseas credit card spends likely in the next Budget

The centre is in discussions to bring overseas credit card spends above Rs 7 Lakh under the Liberalized Remittance Scheme (LRS), on which a 20% tax could be implemented in the upcoming Union Budget, as per sources in the Ministry of Finance. The rollout of the announcement is expected to happen in Union Budget FY25 … Read more

MFs cut holdings in 14 PSU stocks in February; seven of them see double-digit fall

MFs cut holdings in 14 PSU stocks in February; seven of them see double-digit fall

Are good days for public sector stocks nearing an end? It may not be the case for the entire pack but some of the stocks not only saw a double-digit correction but also a reduction in mutual fund holdings. Mutual funds reduced exposure in 14 public sector stocks in February, of which, seven of them … Read more

Big banks Q3 net up on higher other income, dip in provisions

Big banks Q3 net up on higher other income, dip in provisions

Half a dozen banks reported higher quarterly net profit Saturday, as growth in retail loans, increased non-interest income and a fall in provisions more than offset the impact of increasing cost of funds that weighed on their net interest margins (NIMs). ICICI Bank, the largest of the six lenders, reported a 24% rise in net … Read more

Banks may alert RBI as rising funding costs sting amid ​sustained liquidity drainage

Banks may alert RBI as rising funding costs sting amid ​sustained liquidity drainage

Mumbai: Banks are likely to make representations to the Reserve Bank of India (RBI) on sustained liquidity drainage that has pushed up funding costs for lenders despite unchanged policy rates for nearly a year. Liquidity has steadily declined with the central bank repeatedly stressing the primacy of maintaining price stability as Indian voters get ready … Read more

HDFC Bank Q3 net profit jumps 34% to Rs 16,373 cr

HDFC Bank Q3 net profit jumps 34% to Rs 16,373 cr

Mumbai: HDFC Bank, India’s biggest by market value, kicked off third-quarter earnings for banks with a 34% on-year rise in net profit, underpinned by strong growth in retail loans and fee incomes. The bank, which merged its mortgage-lending parent into itself last year, is focused on mobilising deposits that have lately trailed credit growth. Bank … Read more

RBI seen using fund injections to lower money market rates

RBI seen using fund injections to lower money market rates

Mumbai: Amid discussions with bankers over elevated funding costs and operational challenges brought about by liquidity deficit, the Reserve Bank of India (RBI) has sought to cool money market rates by conducting regular short-term fund injections after a long hiatus. “Banks have individually communicated with the RBI after the liquidity deficit widened significantly at the … Read more

UPI's increased transfer limit for hospitals will be applicable from January 10: NPCI

UPI's increased transfer limit for hospitals will be applicable from January 10: NPCI

The National Payments Corporation of India (NPCI) has asked its members to comply with the Reserve Bank of India’s (RBI’s) decision to increase the UPI transaction limit to Rs 5 lakh for hospitals and educational services by January 10. The NPCI has instructed banks, payment service providers (PSPs), and UPI applications to increase transaction limits … Read more