Jun 04, 2024, 02:12:38 PM IST Indian shares fell sharply on Tuesday as early vote-counting trends showed Prime Minister Narendra Modi’s Bharatiya Janata Party-led alliance was likely to win a majority, but the extent of the victory was unclear as its lead was narrower than predicted. Following these trends, several stocks crashed by up to … Read more
Mumbai: Shares of state-owned banks, non-banking finance companies (NBFCs) and infrastructure firms plunged as much as 10% on Monday following the Reserve Bank of India‘s tougher draft guidelines on the financing and accounting of project loans. The proposed stricter lending criteria, with additional provisioning, are aimed at preventing accounting shocks but could potentially hurt balance … Read more
When it comes to parking one’s hard-earned money into safe investment tools, fixed deposit schemes are still the most chased ones looking at the volatility in the market. As the Reserve Bank of India kept the repo rate at the same level, many banks have tweaked their fixed deposit rates to attract customers. In the … Read more
The Centre has recently started a port for pensioners in collaboration with Bank of India. The Integrated Pensioners’ Portal of Bank of India combines the pension processing and payment services of five banks into a single window. In a statement, the Department of Pension and Pensioners’ Welfare (DoPPW) said the platform has been launched to … Read more
MUMBAI – Private banks, which have always been the favourites of institutional investors, lost the spot to public sector banks who are touching the sky riding on retail bulls. So far in 2024, all public sector banks have given double-digit returns to investors. On the contrary, private sector banks have seen single to double-digit fall … Read more
BENGALURU – Index provider MSCI raised India‘s weightage in its Global Standard (Emerging Markets) index to a historic high of 18.2% following its February review, and the changes will come into effect after market close on Feb. 29. India’s weightage in the index has nearly doubled since November 2020. The climb can be attributed to … Read more
Protean eGov Technologies (formerly known as NSDL E-Governance Infrastructure) on Friday said it has mobilized a little over Rs 143 crore from anchor investors, days before its initial public offering (IPO). The company has allotted 18.12 lakh equity shares to 18 funds at Rs 792 apiece, which is also the upper end of the price … 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
The price-to-book value (P/B) for indices on the National Stock Exchange will be calculated based on the networth of each index constituent at the consolidated level in the annual financials, NSE Indices, a subsidiary of the exchange, said in a release on Thursday. Currently, the P/B for indices are calculated by taking into consideration the … Read more
Canara Bank expects its mutual fund and insurance joint ventures to apply for their IPOs over the next 18 months as the other shareholders have agreed in principle to the listing plan, its managing director K Satyanarayana Raju has said. In an interview with Atmadip Ray, Raju also said the bank’s move to spin off … Read more