Fintech firm Credilio unveiled novio – an app to widen the credit card landscape for over 400 million UPI active customers. novio aims to make financial inclusion and credit card lifestyle accessible for every Indian household, the firm said in an official statement. novio has introduced a guaranteed card concept, allowing users to build their … Read more
Banks have been facing hurdles in deposit growth as they are not keeping pace with their lending activities. During the fortnight ending March 22, 2024, deposits saw a 13.5% increase, reaching Rs 204.8 lakh crore compared to previous year. However, lending during the same period surged by 20.2%, reaching Rs 164.3 lakh crore, as per … Read more
“Kotak itself is a big bank now. So again the point is that given its huge underperformance it is possible that it can outperform in the near term but then given that its valuations are much higher than that of most larger banks, it will be tough for it to outperform significantly,” says Sandip Sabharwal, … Read more
NEW DELHI: Domestic brokerage firm Kotak Institutional Equities has reduced stake in four IT stocks – , TCS, and – and picked speciality chemical stock SRF in its model portfolio. “We include SRF (150 bps) bps) in the portfolio. SRF stock is trading at 25.2X FY2024E EPS and its valuations have become more reasonable after … Read more
(This story originally appeared in on Jul 20, 2022) MUMBAI: In an indirect call for an interest rate hike, veteran banker Uday Kotak has sounded caution over central banks not following the US Fed in monetary measures. Kotak said that those who have gone out of line had faced severe depreciation. “Central bankers globally move … Read more
NEW DELHI: Private sector lender , which has underperformed Nifty Bank over the last two years, can rally up to 26 per cent in the next one year and can even hit a market capitalisation of $100 billion in the next four years, foreign brokerage firm Goldman Sachs said in a report. “We believe could … Read more
New Delhi: The initial public offering (IPO) of Prudent Corporate Advisory Services will kick off for subscription on Tuesday, May 10. The company is offering its shares in the range of Rs 595-630 apiece. At the upper range of the price band, the retail wealth management services player is eyeing to raise Rs 538.61 crore … Read more
35,000 is a support for the Bank Nifty, and possibly next week we could see the Bank Nifty heading towards at least 36000-36500 on the index, said Kunal Bothra, kunalbothra.co.in. Edited excerpts: For most part of the week we were hovering in the green territory. It was only over the last couple of trading sessions … Read more
Billionaire banker Uday Kotak on Tuesday rued that there is a tendency among policymakers to display “one-upmanship” when it comes to adding rules and regulations, which they need to desist from. “We need to keep in mind that as we add more rules and regulations, that it should not be ticking the box. At times, … Read more
MUMBAI: Golden Agri-Resources, the world’s second-largest palm oil plantation company, plans to float an initial public offer (IPO) for its Indian subsidiary Gemini Edibles & Fats India Private Limited (GEF India). Four investment banks – Nomura, Axis, Credit Suisse and Kotak have been hired to run the process. A draft red herring prospectus (DRHP) for … Read more