Anshul Saigal, Founder, Saigal Capital, says “one should really focus on bottom-up opportunities, not worry about the market levels, market direction. As long as we have got good companies at reasonable valuations in our portfolios, over the long term, we will be very well-placed. And there is a lot of money to be made in … Read more
New Delhi, Finance Minister Nirmala Sitharaman on Saturday held a meeting with heads of public sector banks and reviewed their financial performance. During the meeting, concerns related to cyber security and the risks on the financial sector were discussed, sources said. Issues related to fraud and wilful defaulters and progress on the National Asset Reconstruction … Read more
ET CONTRIBUTORS In the choppy and truncated trading week, the markets extended their gains with some spurt in the volatility as well. In three out of four trading sessions, the Nifty index moved higher. In the previous technical note, it was categorically mentioned that the Nifty has achieved a full throwback by retesting the original … Read more
State-run Indian Overseas Bank (IOB) shares shot up nearly 14% on Monday to their 52-week high of Rs 45.15 amid a strong rally in public sector banks. Nifty PSU Bank was the top-performing index in an otherwise dull session. IOB was followed by UCO Bank, which was up nearly 7% around 10 am. It hit … Read more
“Incrementally, things are not looking positive for Bajaj Auto because 40-45% of their revenue is still coming from exports market and you have some headwinds and we have seen that the production cut has been announced,” says Hemang Jani, MOFSL What is your take on the Adani Group as a whole and if at all … Read more
State-owned lender experienced a spectacular upmove and doubled investors’ money in the last month. Shares of the PSU bank surged over 110% to Rs 32 in this period. In comparison, the Nifty50 has surged only about 2%, while Bank Nifty has risen nearly 5% during the same period. At 10.29 am, the scrip was trading … Read more
Morgan Stanley has raised its price targets on , Bank of Baroda, PNB and Canara Bank as it expects the sustained cyclical recovery to percolate to state-owned banks other than as well. The brokerage said it sees potential for higher stock returns in Bank of India and BoB. “Although we think SBI remains the best … Read more
Indian Bank, part of the PSU banking space, has rallied more than 60 per cent in a year and recent price action suggests that the momentum is intact which could take the stock to fresh record highs in the next 6-12 months, suggest experts. The PSU bank rose from Rs 121.50 recorded on 30 August … Read more
Mumbai: State-owned lenders and the Reserve Bank of India (RBI) are trying to sort out the regulatory and legal status of the private sector company that would resolve the sticky loans that the ‘bad bank’ acquires. Under the unique twin-company structure, National Asset Reconstruction Company Ltd (NARCL) – the bad bank in which the majority … Read more
Market Outlook for Monday, October 25, 2021 The Indian equity markets continued to correct for the fourth day in a row as it ended yet another day on a negative note. The Nifty opened on a positive note. It inched higher and marked its high point of the day in the first hour of the … Read more