New Delhi | Mumbai: The government appointed Indian Administrative Services (IAS) officer Sanjay Malhotra as the next governor of the Reserve Bank of India (RBI) for a three-year term, succeeding Shaktikanta Das, whose tenure ends Tuesday. Malhotra takes over at a time of high inflation and slowing growth amid calls for rate cuts to bolster … Read more
Bank stocks rallied up to 2% on Friday after the Reserve Bank of India (RBI) slashed the cash reserve ratio (CRR) by 50 basis points to 4%. The measure will ease liquidity stress by releasing Rs 1.16 lakh crore in the banking system. Among the PSU bank stocks, UCO Bank led the rally, rising 2.8% … Read more
Paytm shares rallied over 4% to hit their 52-week high at Rs 939 in Monday’s trade on BSE after the digital payments service provider announced the launch of an automatic top-up feature for its UPI LITE service, enabling PIN-less transactions for payments under Rs 500. The new feature, currently available for select Yes Bank and … Read more
Eight of the top-10 most valued domestic firms together added Rs 1,55,603.45 crore in market valuation last week, with HDFC Bank and Tata Consultancy Services emerging as the biggest gainers, in tandem with firm trend in equities. Last week, the BSE benchmark zoomed 1,536.8 points, or 1.98 per cent, and the Nifty climbed 374.55 points, … Read more
Microfinancing company Muthoot Microfin has commenced the disbursement of loans through its co-lending arrangement with the State Bank of India (SBI), the largest lender in the country. Under the partnership, the SBI has approved a Rs 500 crore limit, to be distributed in increments of Rs 100 crore. The loans, ranging from Rs 50,000 to … Read more
Mumbai: Finance minister Nirmala Sitharaman on Monday expressed concerns over the mis-selling of products, particularly insurance, stating that it adds to the customers’ borrowing costs. Speaking at the State Bank of India Economist Conclave, on whether there is a case for a policy rate cut, the FM said “banks’ interest rates will have to be … Read more
Four of the top-10 most-valued firms together added Rs 81,151.31 crore in market valuation last week, with ICICI Bank and HDFC Bank emerging as the biggest gainers. Last week, the BSE benchmark declined 156.61 points, or 0.19 per cent. While HDFC Bank, Bharti Airtel, ICICI Bank, and the State Bank of India were the gainers, … Read more
While Nifty ended with a week-on-week decline of 0.20%, it was laden with top action where over three dozen companies from large, mid and smallcap segments witnessed prominent block deals worth Rs 16,445 crore on screen which included both buying and selling action. In the large cap segment, 15 companies witnessed significant block deals on … Read more
“We believe 51,400 to 51,000 should be the strong support for Bank Nifty and we should see a gradual recovery for Bank Nifty too. So, banking, metals, power space as a whole looks positive from the current levels,” says Dharmesh Shah, ICICI Direct.Any sector-specific moves that you are seeing? Any sectors that you are liking … Read more
The combined market valuation of 6 of the top-10 most valued firms jumped Rs 1,97,734.77 crore last week, with ICICI Bank and HDFC Bank emerging as the biggest winners, in-line with optimistic trends in equities. Last week, the BSE benchmark jumped 1,653.37 points or 1.99 per cent. The BSE benchmark soared 1,359.51 points or 1.63 … Read more