Kotak Mahindra Bank shares fell 4% to hit a fresh 52-week-low of Rs 1,561 on Thursday after the private lender delivered the bad news of the resignation of Joint Managing Director KVS Manian. Domestic brokerage Nuvama has downgraded the stock to reduce from buy. Kotak shares had ended last week 10% weaker after RBI restricted … Read more
On a sequential basis, HDFC Bank, ICICI Bank, and Axis Bank reported a faster growth in deposits for the March quarter compared with the credit growth while IndusInd Bank and Yes Bank showed marginally lower growth in deposits than advances. Synopsis While these lenders were able to increase deposits at a faster clip during the … Read more
With the fourth quarter earnings underway, as many as 211 companies will announce their quarterly results this week with some major names in the mix. Investors will be particularly watching out for some major earnings of Kotak Mahindra Bank, DMart, Ultratech Cement, Indian Oil, Adani Energy, Adani Power, Ambuja Cements, Adani Wilmar, Adani Enterprises, Coal … Read more
Nifty ended April derivative series higher by 1.1% in which market-wide rollovers were marginally higher as compared to the previous month and stood at 93.2% vs 92.9% last expiry. Thursday’s session saw Kotak Mahindra Bank shares ending 11% lower at Rs 1,643 on NSE while Hitachi Energy India shares ended nearly 14% up at Rs … Read more
Mumbai: Kotak Mahindra Bank founder Uday Kotak has warned about interest rates staying elevated for a longer period of time due to a higher-than-expected US inflation and firm oil prices. Kotak said US inflation may dent hopes of interest rate cuts by the Federal Reserve and keep interest rates “higher for longer” even in countries … Read more
Mumbai: Kotak Mahindra Bank-sponsored asset reconstruction company Phoenix ARC has bought ₹1,800 crore of two real estate developer loans from IIFL in a structured deal, offering around 83% recovery to the Fairfax-backed non-bank lender, people aware of the development said. “Phoenix ARC has bought the debt from IIFL for ₹1,500 crore in an open auction,” … Read more
Indian headline indices ended with sharp cuts on Tuesday amid selling pressure in all sectors. The worst hit were FMCG, IT and energy. While The S&P BSE Sensex settled at 72,012.05, lower by 736.37 points or 1.01%, the broader Nifty closed at 21,817.45, down by 238.25 points or 1.08%. India VIX, a measure of volatility … Read more
Brokerage Nomura maintained a neutral rating on HDFC Bank, Kotak Mahindra Bank has a buy rating on InterGlobe Aviation, Jefferies recommended a buy on Piramal Pharma and UBS maintained a buy on Infosys. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Nomura on HDFC Bank: Neutral| Target … Read more
The Indian market is likely to consolidate on Thursday tracking muted global cues. The Nifty future closed negative with losses of 1.66% at 22,073 levels on Wednesday. India VIX was up 5.79% from 13.64 to 14.43 levels. Positive setup was seen in stocks like Abbot India, ICICI Bank, and Bajaj Finance while weakness in NALCO, … Read more
Veteran banker Uday Kotak said on Wednesday that Indian stock markets are nowhere near bubble territory. He made this remark in the presence of Sebi chief Madhabi Puri Buch, who earlier this week raised concerns of potential “froth” or “bubbles” in pockets of the market. “There may be a little froth, it could be a … Read more
