“I do not think the market is bracing for any kind of negative surprise at this point of time. And we do think that given the earnings that we have seen so far and the fact that we have underperformed US markets, there is a scope for some sort of an outperformance once the event … Read more
The Indian market rallied nearly 1% on Monday, tracking positive global cues. The S&P BSE Sensex rose over 900 points while the Nifty50 closed with gains of over 200 points. Sectoraly, buying was seen in utilities, public sector and banks while realty stocks saw selling pressure. Stocks that were in focus include names like Supreme … Read more
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
Indian market snapped 5-day winning streak on Friday to close in the red tracking muted global cues. The S&P BSE Sensex fell more than 600 points while the Nifty50 managed to hold on to 22,400 levels. Sectorally, buying was seen in healthcare, realty, public sector and consumer durable while selling was seen in capital goods, … Read more
Minority shareholders of ICICI Securities led by Bengaluru-based investment manager Manu Rishi Guptha have filed a class action suit with National Company Law Tribunal (NCLT) against ICICI Bank‘s bid to delist its broking arm from the Indian bourses. Last month, nearly 72% shareholders approved the scheme of arrangement for the merger of ICICI Securities with … Read more
India’s second largest private lender ICICI Bank today reported a standalone net profit of Rs 10 707.53 crore for the quarter ended March 31, 2024 which was up by 17.38% from Rs 9121.87 crore reported in the year ago period. ICICI Bank reported interest income earned during the quarter at Rs 37,948.36 crore which was … Read more
ICICI Bank, India’s second-largest bank by market capitalisation, has recently announced that it will revise the charges for some of its services for customers. These changes will be effective from May 1, 2024. The bank will be making changes to charges related to ATM usage, debit cards, cheque books, IMPS, stop payment, signature attestation, and … 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
Yes Bank and ICICI Bank will tweak their service charges on savings accounts from May 1. Besides this, both banks have decided to discontinue select account types. As per Yes Bank’s website, it will discontinue: Savings Exclusive, YES Savings Select /XLRATE SA, Savings Advantage/ Yes Grace / Yes Prosperity, Prime/Ascent/Crest, Yes Respect (for Sn. Citizen), … Read more
Amazon Pay is planning to kick off credit services on the Unified Payments Interface (UPI) platform as part of a deal with the National Payments Corporation of India (NPCI). This initiative aims to enhance customer experience and value propositions, Vikas Bansal of Amazon Pay India told The Financial Express (FE). In February of this year, … Read more