As FIIs lead sectoral churning in the market ahead of the beginning of the rate-cut cycle in India, private bank stocks have once again begun to outperform their high-flying PSU peers. In the last one month, the private bank index has risen 8% while PSU banks have lost 4.3% of their value. HDFC Bank and … Read more
Public sector lender Punjab National Bank (PNB) on Saturday reported a 159% year-on-year (YoY) jump in its net profit for the quarter ended June 30, 2024, while the bank’s net interest income (NII) rose to Rs 10,476 crore, up by 10% YoY. The net profit for the period stood at Rs 3,252 crore versus a … Read more
State-run and private sector banks may face modest earnings growth in the fiscal first quarter squeezed by pressures on net interest margin (NIM) mainly due to higher deposit costs. While compressed NIM can hurt profitability, this will be partially offset by loan growth outpacing deposit growth, and robust treasury earnings helped by lower bond yields … Read more
Jun 16, 2024, 12:31:07 PM IST Around seven mutual funds exited from 18 stocks in their portfolio in May. Here is the breakdown of the stocks exited, according to Mutual Fund Insight by Nuvama Alternative & Quantitative Research. iStock HDFC Mutual Fund made a complete exit from Radico Khaitan, Phoenix Mills, and Sundaram Finance. The … Read more
Jun 04, 2024, 02:12:38 PM IST Indian shares fell sharply on Tuesday as early vote-counting trends showed Prime Minister Narendra Modi’s Bharatiya Janata Party-led alliance was likely to win a majority, but the extent of the victory was unclear as its lead was narrower than predicted. Following these trends, several stocks crashed by up to … Read more
May 09, 2024, 03:32:49 PM IST Around 10 companies witnessed the highest selling by mutual funds in March, according to a press release by Prime database. Here is the detailed list. Agencies 2/11 Persistent Systems Mutual funds sold around 1.82 crore shares of Persistent Systems in March taking the total number of shares to 1.61 … Read more
Mumbai: Shares of state-owned banks, non-banking finance companies (NBFCs) and infrastructure firms plunged as much as 10% on Monday following the Reserve Bank of India’s tougher draft guidelines on the financing and accounting of project loans. The proposed stricter lending criteria, with additional provisioning, are aimed at preventing accounting shocks but could potentially hurt balance … Read more
The record-breaking rally in Indian equities in recent years has resulted in investors coming into the stock market in hordes. The broadening of the shareholder base in several stocks is a reflection of the appetite for stocks. For instance, five stocks, NHPC, Indian Renewable, IRFC, Yes Bank, and HDFC Bank, collectively added 75 lakh investors … Read more
Apr 16, 2024, 10:27:38 AM IST As the Q4 results of listed companies are underway, it’s important for investors with bank stocks in their portfolios to be aware of the NPAs (non-performing assets) of banks. According to Trendlyne data, Bank of Baroda, Punjab National Bank, RBL Bank, and Bank of India are among the banks … Read more
Mumbai: Domestic mutual funds reduced their exposure to many public sector stocks in the March quarter following a sharp rally in the pack over the past year. Of the 25 public sector undertakings (PSUs) that published their shareholding for the March quarter, 11 saw a decline in mutual fund holdings, while only three stocks saw … Read more
