FINANCIAL POSITION
Chandra Shekhar Ghosh likely to be Bandhan Group's executive head
Ghosh, who will retire from the bank on July 9 as managing director, will oversee Bandhan's insurance and mutual fund ventures, besides the bank's activity, two people familiar with the matter said.
RBI cancels licence of Karnataka-based Shimsha Sahakara Bank Niyamitha
The RBI has cancelled the licence of Shimsha Sahakara Bank in Karnataka due to financial troubles. Depositors can claim up to Rs 5 lakh from DICGC. The bank's closure is deemed necessary to protect depositor interests.
RBI cancels licence of Varanasi-based Banaras Merchantile Co-op Bank
RBI cancels Banaras Merchantile Co-operative Bank's license citing financial instability. Depositors to receive up to Rs 5 lakh from DICGC. Bank lacks capital and earning prospects, leading to liquidation.
Brokers' MTF hits record Rs 73,600 crore amid market highs, surging retail participation
Sebi's MTF framework mandates collateralising existing shares. Kotak Securities cautions investors on MTF investments amidst surging margin funding in anticipation of Modi 3.0 budget.
Jump in FII long-short ratio sans correction may be a new Normal
Market confuses with record FII long-short ratio surge, hinting at shifting dynamics post-election. Chandan Taparia notes unusual stability despite ratio near 5, credits India's growing equity culture for market surge.
GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
Indian equities surge with Nifty crossing 24300 and Sensex breaching 80000. Tech view sets 24900 as the next target. Dollar weakens, oil prices fall, and rupee settles lower. FII net long increases to Rs 3.78 lakh crore. DIIs buy shares worth Rs 924 crore.
Infosys, Tech Mahindra among 6 IT stocks that could surprise positively in Q1 results: JM Financial
Stating that Tech Mahindra remains a ‘buy' on turnaround hopes while KPIT Technologies and Tata Technologies are structural bets on auto ER&D theme, domestic brokerage firm JM Financial believes that Q1 results for the IT sector could positively surprise the street.
CS Setty gets FSIB approval to head SBI as next chairman
Challa Sreenivasulu Setty has been selected as the next chairman of the State Bank of India (SBI) by the Financial Services Institution Bureau (FSIB). Setty, who has worked at SBI for 35 years, will succeed current chairman Dinesh Khara, who will end his term on August 28.
Jio Financial, Zomato can win Nifty ticket as Sebi tweaks F&O rules
Sebi has enhanced derivatives market criteria to ensure robust regulation and investor protection. Changes include higher thresholds and evaluation frameworks for stock entry and exit, promoting market vibrancy and stability. These upgrades may lead Jio Financial Services and Zomato to join Nifty50.
FSIB to hold interview for SBI chairman's position on June 29
FSIB to conduct interviews for SBI Chairman selection. Three out of four MDs eligible. Khara's replacement to be chosen before his retirement.
FSIB shortlists five for executive director positions
FSIB shortlisted five CGMs for ED positions in public sector banks after interviewing 57 candidates. Vaheed, Rajeeva, and Majumdar are top three in the list, while Surendran and Srivastava are number four and five.
Is it a good time to buy travel related stocks? Daljeet Singh Kohli answers
But to assume or extrapolate that this similar kind of execution and similar kind of order book will stay for next three-five years which the stock prices are saying, I think that will be too much of expectation.
Are fears and panic around PSUs overblown? Sandip Sabharwal answers
Ideally, they should not be able to because like you rightly said, it is more commoditised. In fact, you look at the reason why did HDFC merge into HDFC Bank, because they realised that the margins are going to get squeezed and if they do not have a low-cost deposit franchise which supports the margin squeeze, that will become tougher.So, many of these housing finance companies sustain higher margins to develop financing, loan against property, etc, which are higher margin, but then also carry higher risk.
There can be both time wise and value wise correction in PSU stocks: Sandip Sabharwal
Consumer stocks are under-owned at this point of time. They have not given any returns for the last four-five years, leave aside something like a Godrej Consumer or a Tata Consumer which have been outliers and some stocks like Titan and all which have their own dynamics.
Use this adversity to buy high quality companies at discounts: Nilesh Shah
Well, what looks to essentially be the go-to market strategy, if I may use those words, would essentially to look at the defensives. Sectors which have had an extended period of underperformance, which is FMCG, rural plays, IT, pharma, these will emerge to be the risk off trades or will emerge to be the defensive plays and it is quite possible that you will see some kind of recalibration, tweaking of allocations, sectoral allocations and it is quite possible that you will see some money move from the favoured lot to basically this lot.
India remains best market for long term alpha generation: Vikas Pershad
In some areas we were taking some profits. Defence was one of them. And we were adding to some of our other holdings, some in hospitals, healthcare broadly defined. Sanjiv mentioned a good point about IT services. There has not been a broad-based recovery in earnings in that sector yet. But I think investors are making a mistake by overlooking that sector.
Another 1000-point rally on the cards for Nifty post election results: Gautam Shah
I do believe that there is going to be continuity to this rally as well and a possibility of add up of about 1000 points on the Nifty is quite possible.
Energy, manufacturing & infra to remain bedrock of India's bull market: Nilesh Shah
It is very likely that these very sectors are going to basically get a fresh impetus. You are right that yes, in term one, these pockets did not yield returns. But in the second term, especially post COVID, we have seen massive returns and I probably think that is only the start, be it defence, be it space, be it many of the other areas.
RBI imposes penalty on Yes Bank and ICICI Bank
The penalty is imposed on Yes Bank because it levied charges on customers for non-maintenance minimum balance in certain savings accounts with insufficient or zero balance, which is in violation of RBI's guidelines, while ICICI Bank sanctioned term loan/ loans to certain entities in lieu of or to substitute budgetary resources envisaged for certain projects.
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