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Nifty Bank falls 500 points as PNB, Canara Bank, SBI, other stocks decline up to 3%. What lies ahead?
Indian bank stocks tumbled, dragging the Nifty Bank index down as a weakening rupee and rising global bond yields soured market sentiment. Several major banks saw significant declines, with analysts pointing to key technical levels. The rupee hit an all-time low against the dollar, exacerbating concerns for the financial sector.
Vinay Rajani of HDFC Sec suggests Oracle Financial Services, Sun Pharma shares to buy
Indian equity markets experienced a significant selloff on May 18, with Sensex and Nifty 50 dropping over 1%. The BSE Sensex fell over 1,000 points, erasing nearly ₹9 lakh crore in investor wealth amid weak global cues and a bearish trend across sectors.
Infosys, OFSS, TechM, other IT stocks gain up to 3% despite weak market sentiment. Here's why
IT stocks such as Infosys and Oracle Financial Services Software gained, while LTIMindtree, Coforge, Tech Mahindra, Mphasis and Persistent Systems also posted strong gains. Meanwhile, the BSE Sensex and Nifty 50 dropped over 1% as the rupee hit a record low and bond yields surged to all-time highs.
India shaping global thinking on digital finance: PK Mishra
India is leading global digital finance discussions. Its digital public infrastructure is being studied worldwide. The Unified Payments Interface democratizes finance. The JAM Trinity has facilitated massive financial transfers and governance savings. Schemes like Pradhan Mantri Mudra Yojana support marginalized groups. These initiatives are driven by strong policy and political will. Modern finance must remain linked to the real economy.
Government gives final nod to Emirates NBD's $3 billion majority stake in RBL Bank
Dubai's Emirates NBD has secured all necessary approvals for its significant investment in RBL Bank. This landmark deal, valued at approximately $3 billion, will see Emirates NBD acquire a majority controlling stake. The transaction is set to be completed soon. RBL Bank will operate as a foreign bank subsidiary. This marks a major cross-border investment in India's financial sector.
Top Gainers & Losers on May 15: HUDCO, Muthoot Finance, Voltas, IOCL, Vedanta, HAL, Aditya Infotech among top losers
On May 15, Indian markets declined, with Nifty down 0.18% and Sensex down 0.25%. Selling in financial and metal stocks offset IT sector gains. The rupee hit a record low of 96.5 against the dollar, influenced by foreign investor withdrawals and rising crude oil prices.
Walmart-owned Flipkart to defer IPO; prioritise profitability this financial year
Walmart has asked Flipkart to delay its IPO and pre IPO funding, focus on achieving EBITDA breakeven by FY 2027, and prioritize profitable units amid intense e commerce competition
Stocks in news: Adani Enterprises, Tata Motors PV, Tata Steel, Jio Financial, ITC Hotels
Markets extended their rebound for a second consecutive session on Thursday, buoyed by supportive global cues and selective buying in heavyweight stocks. Banking majors played a crucial role in the relief rally, while IT stocks remained under pressure. Several companies, including Adani Enterprises, Tata Motors PV, and JSW Steel, were in focus due to significant block deals and financial results.
High costs pull India Inc's foreign borrowing down 51%
The rupee ended fiscal 2026 as the worst performer in Asia against the US losing close to 10% of its value in a year marked by record exits from Indian equities by overseas investors amid a global scramble for dollar-based assets. Opening the financial year at Rs 85.59 per dollar, the rupee ended at Rs 94.83. It has since weakened to an all-time Rs 95.96 per dollar.
Zaggle Prepaid falls 19% despite strong Q4; JM Financial eyes 34% upside
Zaggle Prepaid reported a 50 per cent year-on-year (Y-o-Y) jump in revenue from operations to ₹618 crore compared to ₹412 crore in the year-ago period
Coal Gasification Scheme worth Rs 37.5k cr cleared to fortify energy security
Financial support to developers will be provided at a maximum of 20% of the cost of plant and machinery through a competitive bidding process, where incentives will be disbursed in four equal instalments linked to project milestones. The incentive for a project will be capped at Rs 5,000 crore and for any single product, except synthetic natural gas and urea, will be capped at Rs 9,000 crore. Incentive for a single entity group will be capped at Rs 12,000 crore across all projects.
Tata Motors (CV) Q4 Results: Standalone profit spikes 70% YoY to Rs 2,406 crore; revenue jumps 22%
Tata Motors CV Q4 Results: Tata Motors (CV) achieved a strong financial performance. Net profit surged 70% year-on-year to Rs 2,406 crore in the March quarter. Revenue also saw a healthy 22% increase, reaching Rs 24,452 crore. The company's board recommended a final dividend of Rs 4 per equity share. Full-year revenue stood at Rs 77,400 crore.