“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
Vedanta Limited, the metals to oil conglomerate, plans to use the proceeds of QIP for repaying or prepaying lenders, including Oaktree, for the company and its subsidiary The Zinc Ventures Limited (THLZV). The funds raised will help reduce overall indebtedness, cut debt servicing costs, and improve the debt-to-equity ratio. It will enable better utilisation of … Read more
This week, 418 companies will release their June quarter earnings, including Jio Financial, Paytm, Bajaj Auto, Asian Paints, LTIMindtree, Infosys, Reliance Industries, Wipro, Union Bank of India, Kotak Mahindra Bank, Tanla Platforms, Tata Technologies, and YES Bank. Here’s the list of major companies that will announce their Q1 results this week: July 15Jio Financial Services, … Read more
Broader markets catalysed the market fall on Tuesday with medium, small and microcap indices treading in deep red around 12:15 pm. The Nifty Midcap 100 index fell by over 7% or 3,700 points around this time to hit the day’s low of 49,623.10. This comes after a meteoric Monday rise after most exit polls gave … 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
Mumbai: Union Bank of India has put on sale nonperforming assets (NPAs) worth ₹1,217 crore and the bank is looking to recover ₹1,012 crore, targeting 80% recovery on the sale of loans. The portfolio on sale comprises 16 accounts, including advances to Gammon India, Supertech Realty, Hotel Horizon, and ACCIL Corp. Prospective buyers have until … Read more
Shares of the state-owned Indian Renewable Energy Development Agency (IREDA) climbed 5% to Rs 125.5 in Wednesday’s trade on BSE after the firm announced a partnership with Indian Overseas Bank (IOB) to co-finance renewable energy projects in India. “Indian Renewable Energy Development Agency and Indian Overseas Bank have joined hands by signing a memorandum of … 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
Mumbai: India’s central bank digital currency pilots in wholesale and retail segments have largely met with success since last year, but some banks have recently hit a bump as statutes do not permit the money to be used for meeting the Cash Reserve Ratio (CRR) requirement. A person aware of the development told ET that … Read more
91.60 percent gain propelled the state-owned lender to the eighth place in the top 20 Indian banks by market capitalization as of September 30, from rank 14 three months ago. Five other public sector banks rose in the market cap rankings over the previous quarter. Central Bank of India‘s market cap grew 76.59 per cent … Read more