FINANCIAL SERVICES INDUSTRY
Valuations take centre stage as Sensex touches new peak Majority of the Sensex constituents now trade above their respective long-term average valuations. It means investors need to be selective while accumulating blue chip names.
04 Jul, 2024, 08.57 AM ISTHDFC Bank leads financial sector rally, powering D-Street to all-time highs The 30-stock S&P BSE Sensex reached a record high of 80,074.3 before closing the session at 79,987, up by 545 points or 0.69%. Meanwhile, the broader Nifty hit a peak of 24,309.15 before ending the day at 24,287, gaining 163 points or 0.67%.
03 Jul, 2024, 11.42 PM ISTCorporate Watch: M&M, Tata Comm among 36 stocks in spotlight this week Welspun Enterprises and DJ Mediaprint declared dividends with ex-dates on July 5. Escorts Kubota also set July 5 as the ex-date for dividend issuance. Several other companies like Tide Water, SKF India, and Balaji Amines have dividend and ex-date an...
01 Jul, 2024, 09.58 AM IST- ADVERTISEMENT
3M India, M&M among 25 stocks that will trade ex-dividend this week. Do you own any? Dividends are distributed to shareholders whose names are listed in the company's records on the record date. With the adoption of the T+1 settlement system, the record date and ex-dividend date are usually identical, except when market holidays occ...
30 Jun, 2024, 10.43 AM ISTFinancial industry grappling with AI's gifts and perils, executives say Zack Kass, a former head of business partnerships at OpenAI said AI systems could be better than humans at explaining to clients why they arrived at recommendations like portfolio allocations or lending decisions. He added that people are not good a...
28 Jun, 2024, 05.50 PM ISTCredit Card issuance soars despite worries over unsecured loans Credit card base in India grew 18% YoY to reach 103 million, with HDFC bank adding the most new cards. However, Kotak Mahindra bank saw a sharp drop amid RBI restrictions. Card spending also grew 17% YoY to reach Rs 1.65 trillion. The credit card in...
27 Jun, 2024, 12.40 AM ISTReliance shareholders approve retail unit's $4 billion lease to Jio Financial JFS plans to acquire equipment worth 360 billion rupees from Reliance Retail, as the financial services provider plans to enter the device leasing business. Through the deal, JFS' unit - Jio Leasing Services - will buy customer premises equipment, d...
21 Jun, 2024, 08.59 PM ISTSensex, Nifty hit brakes on record run; Nifty IT defies market mood Indian equity indices, influenced by global trends, closed lower on Friday. The Sensex fell 269 points to 77,209, and the Nifty dropped 66 points to 23,501, impacted by Reliance Industries, L&T, and HDFC Bank.
21 Jun, 2024, 04.08 PM ISTLack of depth in mid- & smallcap rally hints all’s not shining on D-Street Mid-cap and small-cap indices in 2024 have seen a remarkable surge, with 20 stocks driving 50% of each index's rally, as per reports. The top contributors include PSUs, financial services, and energy companies.
19 Jun, 2024, 07.20 AM ISTLow chances of Nifty Bank exceeding 51,000-level this week: Anand James A new peak on Friday was not surprising, given the fact that 88% of Nifty constituents had started the day at the highest in 30 days. Most other sectors were also showing similar trends, except for PSU banks and metals
17 Jun, 2024, 10.11 AM IST191 smallcaps shine with double-digit gains in a positive market week During the week, as many as 191 smallcap stocks delivered double digit returns with 13 of them gaining 25% or more. PTC Industries was leading the smallcap pack at 35%, followed by Avantel at 33% and Honda India Power at 30.47%.
15 Jun, 2024, 09.57 AM ISTSensex, Nifty smash records yet again; post 2nd weekly gain; HDFC Bank, RIL lead the charge The 30-share BSE benchmark Sensex surged 182 points to settle at 76,993. The broader NSE Nifty rose 67 points and ended at 23,466. State-run companies and energy stocks also contributed to the rally on expectations of continued capital expenditure s...
14 Jun, 2024, 04.32 PM IST3 stocks closed crossing above VWAP on June 13 Stockedge.com's technical scan data indicates that on June 13, the closing prices of three stocks within the Nifty500 pack surged by more than 2.5% compared to the VWAP (Volume Weighted Average Price). This movement above the VWAP indicates a possi...
14 Jun, 2024, 09.11 AM ISTWhile stepping down, very few independent directors speak up Till date this year, out of 180 independent directors who resigned from corporate boards citing "personal reasons", only four have mentioned issues such as corporate governance or lack of transparency for doing so. In recent weeks, though, Nisaba Go...
13 Jun, 2024, 10.37 AM ISTMukesh Ambani's fintech juggernaut starts rolling: The road ahead Ambani's latest fintech business under Jio Financial Servics Ltd (JFSL) aims to ride on extensive consumer network as well the data Reliance has acquired. The tracks that consumers leave while shopping and using Reliance products and services will f...
31 May, 2024, 02.55 PM ISTIIFL Securities to foray into wealth management IIFL Securities' market capitalisation stood at ₹6,073 crore on Tuesday. In comparison, wealth management companies such as 360 One WAM, Nuvama Wealth Management, and Anand Rathi Wealth are valued at ₹28,535 crore, ₹17,913 crore, and ₹17,263 crore r...
29 May, 2024, 10.07 AM ISTHow Jocata is helping financial services industry move from legacy systems to AI-powered solutions Jocata’s low-code platform is driving the future of enterprise lending and embedded finance, says Prashant Muddu, Managing Director & CEO.
28 May, 2024, 11.17 AM ISTJio Financial plans Rs 36,000 cr deal with Reliance Retail Jio Financial Services seeks shareholder approval for its unit to purchase telecom equipment worth Rs 36,000 crore from Reliance Retail. The move signals JFS's entry into the device leasing business. The deal involves Jio Leasing Services buying rou...
24 May, 2024, 04.04 PM ISTGrasim Q4 revenue at record Rs 37,727 crore While operating profit of the flagship company of the Aditya Birla Group jumped by a little over a fourth to ₹6,196 crore during the quarter, also an all-time high, the net profit remained flat on year at ₹1,370 crore. Adjusted for an exceptional it...
23 May, 2024, 05.47 AM ISTTraditional financial services catch the super app bug Financial services companies such as Aditya Birla Capital, Angel One and Muthoot Fincorp are building superapps -- a one-stop applications for all their customers' needs. This development comes as large groups such as Reliance Industries and Tata Gr...
21 May, 2024, 06.01 AM IST