Known for generously gifting shares to friends and for philanthropic reasons, IDFC First Bank MD and CEO V Vaidyanathan is at it once again. The banker has gifted 7 lakh shares worth nearly Rs 5.5 crore of the private sector lender to five people, including an Air Force veteran who had once loaned him just … Read more
Mumbai: A narrower-than-expected trade deficit and higher services exports in January have prompted economists to scale down the current account deficit (CAD) estimates for FY24. Capital inflows through both foreign direct investment (FDI) and portfolio flows are expected to improve during the rest of the fiscal. But potentially higher foreign exchange inflows may not mean … Read more
ICICI Bank credit cards airport lounge access: After HDFC Bank, IDFC First Bank, SBI Card, ICICI Bank has modified its airport lounge access benefits and reward points rules on its 21 credit cards. The revised benefits will be applicable from the new fiscal, i.e. April 1, 2024. As per a notification on the ICICI Bank … Read more
US-based private equity firm Warburg Pincus sold its partial stake in IDFC First Bank through block deals on Thursday. Warburg Pincus, through its affiliate Dayside Investment, offloaded 9.17 crore shares or 1.3% in the private sector lender. The transaction was done at Rs 86.1 apiece, taking the deal value to Rs 790 crore. It is … Read more
The Indian economy kept its momentum, growing nearly a percentage point higher than expected at 7.6% in the second quarter, buoyed by the manufacturing and construction sector, with experts suggesting an upside to the full-year number. “Given the higher than forecast outcome for Q2, we are revising our FY2024 growth forecast to 6.2% from 6.0%,” … Read more
The Nifty Bank index underperformed benchmark indices on Wednesday but managed to recoup some losses as it bounced back after retesting 200-DMA on the daily charts. The index closed 239 points lower at 43,449. It fell to an intraday low of 43,230 and reported an intraday high of 43,692. The Nifty50 index rose 28 points … Read more
LTIMindtree and Bharat Electronics (BEL) will replace UPL and Dabur India from S&P BSE Sensex 50 index with effect from December 18 as part of the reconstitution of the 30-stock index, a BSE release said on Monday. Shares of LTIMindtree jumped over 2% to the day’s high of Rs 5638 on the BSE while BEL … Read more
Nifty Bank closed lower for the second day in a row on Friday. The index fell over 500 points to close below the 44000 mark, weighed down by the Reserve Bank of India’s (RBI’s) announcement of tightening provisions for consumer loans. Nifty Bank index fell 1.3% to close at 43,583 on Friday pulled down by … Read more
Mumbai: Even as the sword of large-scale open market bond sales by the Reserve Bank of India hangs over the debt market, state governments in the poll season have upset bond traders’ demand-supply calculations by overshooting their stated borrowing plans. So far in October, state government bond issuances have outstripped their indicative calendar by 24%, … Read more
Shares of IDFC First Bank fell over 5% to the day’s low of Rs 81.45 on the NSE in the opening trade on Monday amid selling pressure in banks and financial stocks. Though the stock managed to recover from its intraday lows around 10:30 pm, it was still down by 3%. Brokerage Motilal Oswal downgraded … Read more