The Nifty Bank fell over 1% on Thursday tracking weak global cues to close below its crucial psychological support of 48,000. The banking index fell 533 points to close at 47,487 while the Nifty50 saw a decline of 345 points to close below the 22000 mark. IDFC First Bank, PNB, HDFC Bank, and IndusInd Bank … Read more
The Reserve Bank of India (RBI) recently announced two tranches of the Sovereign Gold Bonds (SGB) scheme 2023-24. The SGB 2023-24 Series III will be open for subscription from December 18-22. The date of issuance for this SGB tranche is December 28. The second tranche of the Sovereign Gold Bonds scheme will be open for … Read more
Brokerage firm Morgan Stanley maintained an underweight rating on PNB as well as on L&T Finance. Macquarie recommends an outperform rating on Marico and Emkay initiated coverage on Indian Hotels with a buy rating. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Morgan Stanley on PNB: Underweight| … Read more
Bank Nifty has not been displaying significant momentum, primarily due to the lackluster performance of the heavyweight HDFC Bank. Rupak De, Senior Technical analyst at LKP Securities, says it may not be advisable to consider shorting until Bank Nifty drops below 44,500. “A decisive decline below this level could potentially drive the index towards 43,800/43,500. … Read more
With the momentum in the market remaining bullish, Nifty Bank is now approaching its all-time high and can even zoom past the 47,000-level, says Rupak De of LKP Securities. “The strong presence of Put writers at 46,000 has helped the index to stay in positive territory. The trend is anticipated to stay bullish as long … Read more
Ten stocks are under the F&O trade ban on Wednesday, September 13, 2023, viz. Bharat Heavy Electricals (BHEL), Chambal Fertilizers & Chemicals, Delta Corp, Hindustan Copper, The India Cements, Indiabulls Housing Finance, Manappuram Finance, Punjab National Bank (PNB), National Aluminium Company and Steel Authority of India (SAIL). The F&O contracts of any stock enter the … Read more
Technical charts are currently signalling a notable absence of clear directional momentum in the market. If the Nifty index surpasses and maintains levels above 19,500, it could drive the index to the 19,700-19,800 range. Should the index breach the critical support level of 19,350, the downside target is anticipated to be within the 19,200-19,100 range. … Read more
Mumbai: Omkara ARC has acquired ₹784-crore loan outstanding from PNB Housing Finance of Joyous Housing Limited. The transaction happened at par and helped the mortgage lender in resolving a significant non-performing asset. Omkara ARC bought the account in an all-cash deal, said two people aware of the development. PNB Housing Finance had announced the successful … Read more
Mortgage lender PNB Housing Finance shares rallied 8% to Rs 688 in Monday’s trade on BSE after the firm resolved and fully recovered a corporate non-performing asset (NPA) of Rs 784 crore. The company said it has fully recovered this corporate NPA, constituting about 1.3% of the loan asset as of June 30, 2023. The … Read more
The initial public offer (IPO) of Pyramid Technoplast will open for public subscription on August 18 and close on August 22. The anchor investor allocation will be done on August 17. The IPO comprises a fresh issue of 55 lakh shares and an offer for sale (OFS) of 37.2 lakh shares. Under the OFS, promoter … Read more