136 individuals earn more than Rs 100 crore, with a combined income of Rs 34,301 crore, up from 23 in FY14: SBI research report

136 individuals earn more than Rs 100 crore, with a combined income of Rs 34,301 crore, up from 23 in FY14: SBI research report

In financial year 2013-14 (FY14), 23 individuals earned more than Rs 100 crore and had a combined income of Rs 29,290 crore. Cut to FY21, and the number of those earning more than Rs 100 crore increased to 136, though their combined income rose to Rs 34,301 crore, State Bank of India researchers said in … Read more

Latest fixed deposit (FD) rates: SBI, Bank of Baroda, Kotak Mahindra Bank, Federal Bank, DCB Bank hike FD rates; check details

Latest fixed deposit (FD) rates: SBI, Bank of Baroda, Kotak Mahindra Bank, Federal Bank, DCB Bank hike FD rates; check details

Bank fixed deposit (FD) rates: Fixed deposits (FD) have gained popularity, with some banks offering up to 9 per cent interest in different tenures. Some banks, public and private, have raised interest rates on fixed deposits in December. Since May 2022, FD investors have seen an upward interest rate trajectory with some public sector banks … Read more

Nifty clocks best gains in 34 months in December F&O series. Can it beat this show in January?

Nifty clocks best gains in 34 months in December F&O series. Can it beat this show in January?

Benchmark Nifty 50 rallied over 8% in the December derivative series, clocking its best gains in a series since February 2021. This was also the highest series gain by the index in 2023. Further, foreign institutional investors significantly increased their net long positions, taking the long-short ratio sharply higher to 2.28 at the beginning of … Read more

India Inc needs to think big and bold, push investments: Vivek Joshi, Ministry of Finance

India Inc needs to think big and bold, push investments: Vivek Joshi, Ministry of Finance

MUMBAI: India needs a new cycle of private investment and banks may be required to reassess whether their growth should also include “handholding support” for project conceptualisation and structuring,” said Vivek Joshi, Secretary, Department of Financial Services, Ministry of Finance. “The need of the hour is to think big and to think bold while ensuring … Read more

SBI hikes fixed deposit rates: Check latest FD rates for public, senior citizens effective from today

SBI hikes fixed deposit rates: Check latest FD rates for public, senior citizens effective from today

State Bank of India (SBI) has increased its fixed deposit (FD) rates across most tenors. The new rates are effective from today, December 27, and are applicable to term deposits below Rs 2 crore.  Except for 1 year to less than 2 years tenor, which has been retained at 6.80 per cent, 2 years to … Read more

Re-rating on cards for PSU Banks; SBI, Bank of Baroda can give 25% return in 2024

Re-rating on cards for PSU Banks; SBI, Bank of Baroda can give 25% return in 2024

With consistent earnings normalization, controlled credit costs, and healthy asset quality, earnings for PSBs are expected to grow at a more sustainable pace. We estimate the profitability of the top six PSBs under our coverage to rise to Rs 1.7 trillion by FY26 from Rs 573 billion in FY22 and from collective losses in FY18. … Read more

Nifty Bank falls more than 1% in a week; breakout above 47,700 may trigger short covering move

Nifty Bank falls more than 1% in a week; breakout above 47,700 may trigger short covering move

The Nifty Bank fell more than 1% for the week ended 22 December 2023, tracking the mixed trends seen in Indian markets amid a rise in Covid cases, profit booking at higher levels, and geopolitical concerns. The Nifty Bank fell from 48,143 as on 15th December 2023 to 47,491 recorded on 22 December 2023, which … Read more

Stocks to buy today: 9 short-term trading ideas by experts for 18 December, 2023

Stocks to buy today: 9 short-term trading ideas by experts for 18 December, 2023

Indian headline indices hit fresh lifetime highs on Friday ending with weekly gains of 2.7% on a dovish pivot by the US Fed. The biggest gainers were IT and bank stocks. Nifty hit a new lifetime high of 21,492.30 before ending the session at 21,456.65, up 273.95 points or 1.29%. The 30-stock S&P BSE Sensex … Read more

Stocks to buy today: 8 short-term trading ideas by experts for 14 December, 2023

Stocks to buy today: 8 short-term trading ideas by experts for 14 December, 2023

Indian headline indices ended with small gains but scripted a strong turnaround from the day’s lows where S&P BSE Sensex fell by over 450 points while Nifty was down by over 130 points. India VIX, a measure of volatility, was at 12.07, down 5.09% on Wednesday. The overall market sentiment remains bullish on Thursday, and … Read more