Mumbai: ICICI Bank has challenged the proposed rights issue of Mumbai International Airport (MIAL) on the grounds that it violates prior contractual agreements and risks diluting lenders’ interests, said people with knowledge of the matter. The bank’s contention is that the rights issue will dilute the value of shares pledged against loans worth $1.25 billion … Read more
Shares of Reliance Power and Reliance Infrastructure tumbled in Thursday’s trade after the State Bank of India (SBI) classified the loan account of Reliance Communications (RCom) as fraud, implicating the company’s former director, Anil Ambani, Times of India reported. Reliance Power slipped 4.8% to Rs 64.75, while Reliance Infra hit the 5% lower circuit at … Read more
While a majority of the banks reported double-digit net profit growth for the March 2025 quarter, it was largely driven by a robust increase in the other income as most of them were unable to post strong growth in net interest income (NII). According to an analysis of the quarterly financials of listed banks by … Read more
Stocks of public sector banks have had a lackluster run on Dalal Street in 2025 so far, significantly underperforming not just private banks but also the broader Nifty, with some falling by up to 40%. With the tailwinds of lower interest rates, the RBI’s accommodative stance, and decent earnings, can PSU banks engineer a comeback? … Read more
Sensex and Nifty closed higher for the third straight day on Wednesday as retail inflation slipping to near six-year lows raised hopes of further rate cuts. Stocks that were in focus include names like Jio Financial, which rose 2% and SBI Card, which gained 0.4% and Canara Bank, whose shares rallied 2% on Wednesday. Here’s … Read more
The Indian market is likely to trade higher on Tuesday, tracking positive global cues. The Nifty futures closed in the negative with a loss of 0.34%, at 24,698 levels on Monday. On the options front, the maximum Call OI is placed at the 25,000 strike, followed by the 24,700 strike, while the maximum Put OI … Read more
Bank stocks rallied up to 2% on Friday after the Reserve Bank of India (RBI) slashed the cash reserve ratio (CRR) by 50 basis points to 4%. The measure will ease liquidity stress by releasing Rs 1.16 lakh crore in the banking system. Among the PSU bank stocks, UCO Bank led the rally, rising 2.8% … Read more
Satyanarayana Raju, MD & CEO, Canara Bank, says the bank is looking at alternative resources instead of only depending on deposits which are costing them heavily. But it does not mean that they are not growing at the deposits. Deposits are also growing at par with credit. In the last 20 months, they have launched … Read more
“We believe 51,400 to 51,000 should be the strong support for Bank Nifty and we should see a gradual recovery for Bank Nifty too. So, banking, metals, power space as a whole looks positive from the current levels,” says Dharmesh Shah, ICICI Direct.Any sector-specific moves that you are seeing? Any sectors that you are liking … Read more
Vodafone Idea has made an exit from Nifty 500 index and Nifty Midcap 100 as part of a semi-annual rejig of NSE’s various indices. Vodafone’s current free-float market capitalisation stands at Rs 36,534 crore and the stock today ended at Rs 15.83, down by Rs 0.37 or 2.28% over the Thursday closing price. Vodafone’s exit … Read more