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Stocks in news: Adani Enterprises, Cochin Shipyard, IDFC First Bank, Premier Energies, Glenmark Pharma
Markets traded subdued on the weekly expiry day, with indices ending marginally lower. Cochin Shipyard's offer for sale saw strong investor demand on its first day. Adani Enterprises' US legal case faces a likely dismissal by federal prosecutors. IDFC First Bank launched provident fund payment services through its EPFO integration. Premier Energies secured significant orders, and Glenmark Pharma launched a generic drug in the US.
Bank of Baroda settles NMC Health dispute for $600 million; Q1 credit grows 17%
Bank of Baroda has settled a significant legal dispute with NMC Health entities for USD 600 million, resolving claims under UAE and UK regulations. The bank's Abu Dhabi branch facilitated the payment, concluding proceedings without admitting liability. In other news, BoB reported robust financial performance, with credit growth reaching 17% and total deposits rising 14% in the first quarter of FY27.
Buy, Sell Or Hold: IDFC First Bank, JSW Energy, Wockhardt, Paras Defence And Titagarh Rail — Ask Profit
Market experts shared buy, sell and hold recommendations for an array of stocks.
NHB probing Aavas Financiers over loan classification lapses
The sector regulator has recalled refinancing support worth nearly Rs 500 crore —a punitive action that has set off a sweeping leadership overhaul at the company. ET was the first to report on April 13 that managing director and CEO Sachinder Bhinder was being asked to step down, with Manu Singh — former home loans head at Kotak Mahindra Bank — set to take over. A week later, on April 20, the company confirmed Bhinder's resignation and Singh's appointment as the new CEO.
NHB probing Aavas Financiers over loan classification lapses
The sector regulator has recalled refinancing support worth nearly Rs 500 crore —a punitive action that has set off a sweeping leadership overhaul at the company. ET was the first to report on April 13 that managing director and CEO Sachinder Bhinder was being asked to step down, with Manu Singh — former home loans head at Kotak Mahindra Bank — set to take over. A week later, on April 20, the company confirmed Bhinder's resignation and Singh's appointment as the new CEO.
Trade Setup for May 27: Nifty holds on to key levels as market moves from one expiry to another
The Nifty Bank was the key contributor in the Nifty exhibiting sluggish moves on expiry day, but unlike the Nifty, the banking index continued to trade in a broad range. Despite a 500-point fall from the day's high, the index managed to hold on to the 55,000 mark on a closing basis, something the bulls could take heart from. Tuesday's high of 55,536 will be the first level to watch on the upside.
Buy, Sell Or Hold: Lupin, IDFC First Bank, Eicher Motors, IRFC, Eternal, Coal India — Ask Profit
Ruchit Jain and Avinash Gorakshakar provided insights on these investor queries and more on NDTV Profit's Ask Profit's show.
Stocks in news: RIL, TCS, IDFC First Bank, BPCL, SpiceJet
Indian equity markets saw profit booking on April 9, ending a five-day rally. Several companies like RIL, TCS, and IDFC First Bank are in focus due to news and Q4 results. Granules India faces US regulator scrutiny, while SpiceJet is ordered to pay $8 million to an engine lessor.
CBI all set to take over Rs 590 crore IDFC First Bank scam case
The CBI has launched an extensive inquiry into an alarming Rs 590 crore embezzlement scheme concerning Haryana's government funds. Reports indicate that employees from IDFC First Bank, alongside certain private entities, engineered a diversion of funds into phantom enterprises and jewelry ventures. The investigation points to a web of financial transactions aimed at supporting lavish gold purchases and property deals.
Bank of Baroda shares fall over 4% after lender settles NMC Health litigation for Rs 5,700 crore
The settlement covers proceedings before the Abu Dhabi Global Market Court of First Instance and the High Court of Justice of England & Wales relating to the insolvency of the NMC entities