Market News
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Banks Raise FCNR-B Deposit Rates After RBI Support
HDFC Bank, YES Bank, AU Small Finance Bank and Central Bank of India have raised FCNR-B deposit, people familiar with the matter told NDTV Profit.
Stocks to Watch Today: Alkem Labs, Ola Electric, PNC Infratech, Equitas Small Finance Bank, NHPC, Anant... - Moneycontrol.com
Stocks to Watch Today: Alkem Labs, Ola Electric, PNC Infratech, Equitas Small Finance Bank, NHPC, Anant...Moneycontrol.com
Stocks in news: Manappuram Finance, Kotak Bank, Nazara Technologies, United Breweries
Indian markets continued their recovery for a third straight session, with Nifty approaching the 23,800-24,000 resistance zone. Key stocks like Manappuram Finance, Kotak Bank, Nazara Technologies, and United Breweries are in focus due to significant corporate developments, including acquisitions, licensing agreements, and environmental clearances.
Fino Payments Bank CEO Arrested: FM Sitharaman to 'check' GST evasion case
Finance Minister Nirmala Sitharaman will investigate the arrest of Fino Payment Bank CEO Rishi Gupta. Gupta was apprehended by GST authorities in Hyderabad. The bank stated the probe concerns a business partner's transactions, not the bank's compliance. Social media questioned the extent of GST powers. The Finance Minister acknowledged the issue and promised to look into it.
Banks should look at lower rates for small borrowers, says DFS Secy
DFS Secretary M. Nagaraju urged banks to lower lending rates for small borrowers and businesses to 6-7%, aiming to boost credit penetration without incurring losses. He highlighted the need to bridge the significant gap in India's bank credit to GDP ratio, which stands at 57% compared to global benchmarks, to achieve the Vikshit Bharat 2047 vision.
Closing Bell: Market snaps 3-day fall; Nifty above 23,400, Sensex surges 939 pts
Biggest Nifty gainers M&M, Grasim Industries, Trent, UltraTech Cement, Bajaj Finance, while losers are Bharat Electronics, Wipro, Max Healthcare, Sun Pharma, Coal India. On the sectoral front, auto, bank, FMCG up 0.5-1%, while media, oil & gas, pharma, realty, capital goods down 0.5-2%. Nifty Midcap index is trading flat, while smallcap index down 0.5%.