Market News
Stay updated with the latest market trends, earnings, and economic indicators.
SBI to sell 1.42% stake in SBI Funds Management ahead of ₹11,693 cr IPO
The State Bank of India will sell a 1.42 per cent stake in SBI Funds Management for ₹1,655 crore through a pre-IPO placement ahead of the AMC's ₹11,693 crore IPO
Explained - Key factors why PSU bank shares surged up to 10% on Friday
Indian Bank led the gains, surging as much as 9%, while State Bank of India, Canara Bank, Bank of Baroda, Bank of Maharashtra, Punjab National Bank (PNB) and Bank of India advanced between 2% and 9%.
SBI Funds IPO: Holding State Bank Of India Shares? Here Is How To Claim Your Special Quota
Unlike some public issues that offer a concession to retail investors, SBI shareholders will not receive any discount on the issue price.
State Bank of India draws over $1.5 billion in forex deposits
State Bank of India has raised over $1.5 billion from overseas citizens. This program offers attractive returns due to Reserve Bank of India subsidies. Depositors can leverage funds, earning more than their borrowing costs. Banks are expanding outreach to India's large diaspora globally. This initiative echoes a similar plan from 2013.
State Bank of India draws over $1.5 billion in offshore deposits
State Bank of India has raised more than $1.5 billion through its offshore foreign-currency deposit programme, underscoring strong interest from the Indian diaspora after the RBI introduced measures to encourage banks to mobilise overseas deposits.
Deposits win for private banks, loans trophy for PSBs: Q1 throws up opposing trends; private growth seen as healthier
Private banks saw stronger deposit growth than public sector lenders in the June quarter. Public sector banks, however, achieved faster credit expansion during the same period. This divergence raises concerns about funding sustainability for state-run institutions. Private banks have steadily gained market share in deposits over a decade. Credit growth between the two bank types showed convergence in the recent quarter.
NSE targets September launch for Rs 30,000-crore IPO after Sebi nod
The National Stock Exchange (NSE) is targeting to launch its much-awaited initial public offering (IPO), estimated at around Rs 30,000 crore, in September, people familiar with the development said on Monday. The mega IPO is expected to value the country's largest stock exchange at over Rs 5 lakh crore. The exchange will soon begin roadshows for the IPO. If successful, the issue will surpass Hyundai Motor India's Rs 27,870-crore public offering launched in October 2024. The proposed public issue will be entirely an offer for sale (OFS) of 14.89 crore equity shares, with existing shareholders collectively divesting nearly 6 per cent of the exchange's equity, according to the draft red herring prospectus (DRHP) filed in June. NSE has around 1.8 lakh shareholders. Among the major shareholders selling their stake, State Bank of India will offload up to 2.48 crore shares, followed by MS Strategic (Mauritius) Ltd with 1.60 crore shares. Other shareholders proposing to sell shares includ
Is enforcement of banking regulations ownership neutral?
Bank of Baroda settled a $600 million dispute with NMC Healthcare administrators, ending a protracted legal battle. This significant payout, wiping out a quarter of its projected profit, raises serious questions about the bank's governance and disclosure practices. The settlement, reached without admitting fault, highlights a perceived leniency in regulatory oversight for state-owned banks compared to private institutions, prompting calls for more equitable enforcement.
Is enforcement of banking regulations ownership neutral?
Bank of Baroda settled a $600 million dispute with NMC Healthcare administrators, ending a protracted legal battle. This significant payout, wiping out a quarter of its projected profit, raises serious questions about the bank's governance and disclosure practices. The settlement, reached without admitting fault, highlights a perceived leniency in regulatory oversight for state-owned banks compared to private institutions, prompting calls for more equitable enforcement.
SBI to recruit 1,500 probationary officers this year
State Bank of India is set to recruit 1,500 probationary officers this year to fuel business expansion, with applications closing on July 8. The bank also hires IT professionals and domain experts as Specialist Officers. Last fiscal, SBI onboarded over 25,000 individuals, including officers and associates, demonstrating its commitment to generating employment and building a skilled workforce.
Central Bank of India reports 29% loan growth in Q1; total business rises 18%
State-owned Central Bank of India reported healthy business growth for the quarter ended June, supported by strong credit expansion and steady growth in deposits.
Motilal Oswal's top 4 banking picks ahead of Q1 earnings season. Do you own any?
Motilal Oswal has identified its top banking picks ahead of the Q1 earnings season, anticipating strong MSME credit demand. HDFC Bank and ICICI Bank are highlighted for their robust asset quality and profitable growth. State Bank of India leads the PSU pack with aggressive pricing and housing loan strength, while AU Small Finance Bank is favored for its retail segment performance.