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
Mumbai: Indian equity indices closed at fresh all-time highs on Wednesday with the Sensex ending above 74,000 for the first time, bucking overnight weakness on Wall Street. Private banks and select auto shares led gains as investors shuffled their holdings by cutting exposure in recent top performers, mainly smallcap and midcap stocks, considered to be … Read more
While bulls aren’t yet ready to give up on the potential of PSU bank stocks given the sharp earnings turnaround, the case for the underdogs is getting louder as the valuations of PSU banks are at historical highs while private banks are languishing near decade-long lows. Private banks are trading at a price-to-book (P/B) valuation … Read more
Benchmark indices extended gains to the sixth straight day on Tuesday. The 30-share BSE Sensex closed higher by 349 points at 73,057 and the broader Nifty rose 74 points to settle at a new record level of 22,196. Stocks that were in focus included names like Deepak Fertilisers, which rose 3.55%, Whirlpool of India, which … Read more
Mumbai: A narrower-than-expected trade deficit and higher services exports in January have prompted economists to scale down the current account deficit (CAD) estimates for FY24. Capital inflows through both foreign direct investment (FDI) and portfolio flows are expected to improve during the rest of the fiscal. But potentially higher foreign exchange inflows may not mean … Read more
Brokerage firm Jefferies maintained a buy call on ICICI Bank post-Q3 results, a hold rating on Kotak Mahindra Bank, and a buy rating on Paytm. CLSA downgraded Zee Entertainment to sell from a buy earlier. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Jefferies on ICICI Bank: … Read more
Half a dozen banks reported higher quarterly net profit Saturday, as growth in retail loans, increased non-interest income and a fall in provisions more than offset the impact of increasing cost of funds that weighed on their net interest margins (NIMs). ICICI Bank, the largest of the six lenders, reported a 24% rise in net … Read more
Private sector lender Kotak Mahindra Bank on Saturday said that its board has approved the raising of funds worth Rs 10,000 crore via the NCD route. “This is to inform you that the Board of Directors of Kotak Mahindra Bank have, at their meeting held today, inter alia, approved a proposal to enable the Board … Read more
Kotak Mahindra Bank is expected to report a double-digit growth in net profit for the quarter ended December, led by strong interest income, healthy loan growth, lower credit costs, and stable asset quality. The private sector lender’s net profit for the quarter is seen rising 15.3% year-on-year (YoY) to Rs 3,219 crore, and net interest … Read more
Various widely tracked companies like Reliance Industries, Jio Financial Services, HDFC Bank, Asian Paints, LTIMindtree, IndusInd Bank, Polycab India, HUL, UltraTech Cement, ICICI Bank, and Kotak Mahindra Bank will be releasing their December quarter report cards this week. Here’s a list: January 15Jio Financial Services, Angel One, PCBL, Choice, International, Kesoram Industries, Fedbank Financial Services, … Read more
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