Mumbai: Liquidity in the banking system has slipped into its deepest deficit in almost six months, inflating borrowing costs, as outflows due to corporate advance taxes and the Reserve Bank of India’s likely actions to stabilise the rupee have drained lenders of funds. As of September 16, the RBI infused ₹68,785.94 crore into the banking … Read more
Shares of YES Bank surged as much as 10% in intra-day trade on Monday, extending gains from the previous session, and hit the highest level in over 7 months. The sharp rally in the stock was backed by significant volumes, as more than 647 million shares changed hands on the NSE, which was nearly six … Read more
Indian equities ended on a weak note in a volatile trade for the second trading session in a row on Monday. The sharp decline in heavyweights including RIL, ITC and Kotak Mahindra Bank dampened the sentiment on the D-Street. Nifty ended at 19,672, down 73 points. Furthermore, markets have turned anxious ahead of the FOMC … Read more
Private lender YES Bank is expected to report soft numbers for the first quarter ended June, reflecting weak underlying business growth. While the net interest income (NII) is seen growing in mid single-digits year-on-year, it is likely to decline on a sequential basis with weak loan growth. Kotak Institutional Equities is estimating 6% YoY rise … Read more
Boosted by positive Q1 earnings by some counters and strong global cues, Indian equities rallied to fresh record highs for yet another session on Thursday. Nifty ended shy of 20,000 levels. Nonetheless, Friday’s session may be influenced by Infosys earnings wherein the IT behemoth sharply slashed its revenue guidance for FY24. Here’s how analysts read … Read more
“This will definitely delay the process because I think the NCLT approval on the merger cannot come in until these cases are resolved. But nonetheless, I think the amounts therein are very low,” says Karan Taurani, Elara Securities.I just want to talk about this overhang. Now, this is further going to seem like it is … Read more
NEW DELHI: Foreign institutional investors or FIIs are estimated to have splurged about Rs 44,700 crore in 9 stocks during the December quarter. The shopping list is dominated by bank stocks – , and YES Bank. During the quarter, FIIs nearly doubled their shareholding in retail favourite YES Bank from 12.15% to 23.24%. Calculations done … Read more
“Kotak itself is a big bank now. So again the point is that given its huge underperformance it is possible that it can outperform in the near term but then given that its valuations are much higher than that of most larger banks, it will be tough for it to outperform significantly,” says Sandip Sabharwal, … Read more
Private sector lender YES Bank today reported 80.66% on-year drop in its standalone December quarter net profit at Rs 51.52 crore due to ageing related provisions. Its net interest income improved 11.7% YoY at Rs 1,971 crore in Q3. Its net interest margin (NIM) in Q3 stood at 2.5% up nearly 10 bps YoY and … Read more
Kerala State Electricity Board (KSEB) logo Electricity Minister K. Krishnankutty has put on hold a Kerala State Electricity Board (KSEB) decision to use spot billing machines supplied by Yes Bank for billing and payment collection purposes. Mr. Krishnankutty said on Sunday that the KSEB chairman and managing director Rajan Khobragade has been directed to ‘‘temporarily … Read more