Mumbai: After a worse-than-expected 23.9 per cent decline in GDP in the June quarter, the top economist at State Bank of India expects a steeper decline in FY21 real GDP — again in the double digits. Soumya Kanti Ghosh, Group Chief Economic Adviser, State Bank of India, now expects FY21 real GDP growth to decline … Read more
QIP is a way for listed companies to raise capital without having to submit legal paperwork to market regulators. In an effort to raise capital amid the disruptions led by the coronavirus pandemic, five large PSU banks may sell shares to institutional investors later in this fiscal year. SBI, PNB, BoB, and UBI are among … Read more
The government did infuse almost Rs 2.7 lakh crore between fiscal 2017-2020 but the pandemic might force the government to infuse more capital to keep public lenders healthy. Public sector lenders need to raise as much as Rs 2.1 lakh crore in external capital over the next two years to tackle the capital shortages that … Read more
MUMBAI: State Bank of India, representing creditors of Reliance Communications (RCom), has told the Supreme Court that spectrum is an “essential and integral” part of the telco’s assets and the insolvency process would fall apart if the right to use airwaves isn’t allowed to be transferred. Without any spectrum to use, the telco would cease … Read more
Putting restrictions against imports to boost manufacturing in India may backfire and we should not get excessively excited on this issue, says the analyst, asksandipsabharwal.com State Bank of India came out with good numbers, especially on the moratorium front. They have a historic loan book which may not be dominated by the salaried class and … Read more
MUMBAI: Lovable Lingerie is the third-best performing stock among companies listed this year, with it doubling in value, as traders bet it could repeat the performance of Page Industries, sellers of Jockey innerwear. It gained a third in about a week. But the small float and low delivery volumes is an alert against wagering on … Read more
The Old Fox of Dalal Street has been on a dream run since the past couple of weeks. On Friday, most stocks that he had been steadily building up positions in figured among key gainers of the day. State Bank of India shares hit a new peak of Rs 2,879.95, before closing at Rs 2,849.40, … Read more