Market News
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INR settles lower amid risk-averse investor sentiment
The Indian rupee depreciated by 14 paise to close at 94.65 (provisional) against the US dollar on Tuesday, as a strengthening greenback overseas and risk-averse investor sentiment weighed on the local unit. The dollar index shifted back above 101 mark on Tuesday after a slight pull back below the levels in the previous session. Elevated expectation for a Federal interest rate hike is seen lending consistent support to the greenback. Markets are staying cautious around 101 mark surrounding the United States (US) Nonfarm Payrolls (NFP) data for June, which will be released on Thursday. Markets will also look forward to resumption of US-Iran peace talks in Doha that could help ease inflation concerns. The rupee briefly slipped to 95.55 against the US dollar as per CCIL data, driven by month-end corporate import demand and lingering risk-off sentiment. However, relatively stable global crude prices and anticipated central bank interventions supported the currency and restricted the ...
Kotak Mahindra Bank to acquire Deutsche Bank's India retail banking business
Kotak Mahindra Bank has significantly expanded its footprint by acquiring Deutsche Bank's retail, private banking, and wealth management operations in India. This substantial deal, one of the largest in recent years, includes approximately ₹29,000 crore in loans and ₹16,000 crore in deposits. Around 1.5 lakh clients and nearly 1,000 employees will now join Kotak Mahindra Bank, bolstering its presence in the Indian financial landscape.
RBI flags AI stock boom as financial stability risk, says Indian banks remain resilient
India's central bank has identified soaring AI stock valuations globally as a financial stability risk, warning of potential market spillovers. Despite this, the Reserve Bank of India asserts that India's banking system remains robust, well-capitalised, and resilient to external shocks. Strong macroeconomic fundamentals and healthy balance sheets in both banks and non-banking financial companies provide a solid foundation, limiting the impact of global financial stress on the domestic economy.
Bad loans may edge up to 1.9% by FY28 despite resilient banks: RBI
Indian banks are projected to see a slight increase in bad loans to 1.9% by March 2028, yet the system remains robust with strong capital and healthy profits. The Reserve Bank of India's report highlights resilient balance sheets and improving credit growth. Despite global uncertainties, the financial sector, including NBFCs, is well-positioned to absorb shocks, though AI cyber threats demand increased vigilance.
Stocks in news: Bajaj Auto, ZEE, BPCL, HDFC Bank, HUL, Tata Motors CV
Indian markets saw a subdued trading session on Monday, with key indices declining due to mixed global signals and profit-taking. Several prominent companies like Bajaj Auto, ZEEL, BPCL, HDFC Bank, and HUL are in focus today due to significant corporate developments. These include share buybacks, foreign investments, leadership appointments, and strategic acquisitions, signaling active corporate maneuvering amidst market fluctuations.
Churn at private banks' finance function, 2 CFOs quit
A significant reshuffle is underway in the finance departments of major Indian banks. Axis Bank and Bandhan Bank have seen their Chief Financial Officers resign, sparking speculation about future leadership. This follows another high-profile departure from HDFC Bank. Industry insiders suggest a potential move for one CFO to HDFC Bank, while another might step into the Axis Bank role, creating an unusual churn ahead of financial results.
SBI Securities prefers HDFC Bank, sees long-term upside in metals
Sunny Agarwal, Head Fundamental Research, Retail Desk at SBI Securities, remains positive on private banks, preferring HDFC Bank over Kotak Mahindra Bank after the lender received a clean legal review. He says Persistent Systems' acquisition benefits may take up to eight quarters to materialise, while slower growth remains a near-term concern. Agarwal is also bullish on the metals sector, with Indian Metals & Ferro Alloys as his top pick, and remains positive on Astral over the long term despite near-term challenges.
Stocks to buy below ₹100: Mehul Kothari of Anand Rathi recommends three shares to buy or sell
Next week, Bank Nifty's trading range is set between 57,000 and 59,000, with breakouts suggesting future trends. Analyst Mehul Kothari advises buying Trident, UCO Bank, and MMTC under ₹100, as the Indian market remains strong amid mixed signals and easing crude oil prices.
RBI Governor highlights exporters resilience amid an uncertain global trade environment
Governor, Reserve Bank of India, Sanjay Malhotra yesterday met in Mumbai with representatives of various Export Federations, Export Promotion Councils, Export Committee of Confederation of Indian Industry and Foreign Exchange Dealers' Association of India. In his address, the Governor highlighted significant contribution of exporters to India's economic transformation and commended their resilience amid an uncertain global trade environment and evolving geopolitical challenges. He underscored the importance of such engagements in understanding stakeholder concerns and facilitating informed policy formulation.
RBI Governor highlights resilience of exporters amid an uncertain global trade environment
Governor, Reserve Bank of India, Sanjay Malhotra yesterday met in Mumbai with representatives of various Export Federations, Export Promotion Councils, Export Committee of Confederation of Indian Industry and Foreign Exchange Dealers Association of India. In his address, the Governor highlighted significant contribution of exporters to Indias economic transformation and commended their resilience amid an uncertain global trade environment and evolving geopolitical challenges. He underscored the importance of such engagements in understanding stakeholder concerns and facilitating informed policy formulation.
Reserve Bank of India issues final rules on credit derivatives
The rules will allow resident Indian non-retail users to deploy instruments such as credit default swaps and total return swaps without any restrictions on purpose, while limiting the use of these instruments by non-resident users for hedging purposes.
Reserve Bank of India issues final rules on credit derivatives
The rules will allow resident Indian non-retail users to deploy instruments such as credit default swaps and total return swaps without any restrictions on purpose, while limiting the use of these instruments by non-resident users for hedging purposes.