Domestic brokerages remain bullish on the , Rakesh Jhunjhunwala‘s largest banking bet, after a strong performance in the June quarter. The private lender, which had announced its earnings on Friday, reported a 63.53 per cent year-on-year (YoY) rise in net profit at Rs 600.66 crore compared with Rs 367.29 crore in the same quarter last … Read more
New Delhi: Ahead of corporate earnings for the June quarter, foreign brokerages have come up with their reports on select domestic companies. While they remain mixed on financials, the views on FMCG suggest a promising outlook for the sector. CSLA has maintained its sell rating on as the growth has slowed from pre-Covid levels. It … Read more
NEW DELHI: Rate sensitive stocks gained on Wednesday after the Reserve Bank of India (RBI) hiked repo rate – the rate at which it loans money to banks — by 50 basis points to 4.90 per cent in order to tackle elevated inflation. Most bank stocks, which are among the most sensitive stocks with respect … Read more
“Market participants are tapping risk-less opportunities,” said Asuhtosh Khajuria, executive director at Federal Bank. Synopsis Record rate reductions have caused the tri-party repo rates to fall below the reverse repo – and banks are making money without much sweat. Remember the much-talked-about yen carry trades all those years ago? That’s when funds borrowed big in … Read more
In early July, customs officials at the Thiruvananthapuram international airport intercepted a diplomatic consignment from UAE containing 30 kg of gold valued at about Rs 15 crore. While the yellow metal is smuggled into the country fairly regularly, the use of diplomatic baggage set off alarm bells in various agencies, including at the National Investigative … Read more
Within the banking space, I am sticking to very small, private sector banks, says the Founder & CEO, Sana Securities You are saying that the piggyback effect of what has happened on Wall Street overnight has played out on our own markets today. Is that broad-based selling and does it seem like banks are taking … Read more
Federal Bank is looking to enter the credit card segment in the next one year to complete its suite of lending products, a senior official said on Sunday. The bank, which already has a co-branded card offering with SBI Cards, will focus on its existing customer base of over 1 crore to sell cards, its … Read more
The bank will rely only on in-house customers and also deploy its analytics engine to choose customers in a bid to take care of concerns on book quality. Federal Bank is looking to enter the credit card segment in the next one year to complete its suite of lending products, a senior official said on … Read more
We are not positive but neutral when it comes to the construction or infrastructure space, said Fund Manager, MOAMC. Let us take stock of the earnings so far. Post Axis Bank’s moratorium confusion, it seems like the Street has absorbed the earnings well. I cannot comment on individual stocks but if we look at the … Read more
Shares of Indian Hotels and Federal Bank hogged the limelight on Monday after latest shareholding data showed that ace stock picker Rakesh Jhunjhunwala bought shares in these firms during the April-June period. Indian Hotels closed 2.64 per cent higher at Rs 81.65 on the BSE, while Federal Bank settled nearly 3 per cent up at … Read more