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Kotak to buy Deutsche's India retail, wealth business
Kotak Mahindra Bank is set to acquire Deutsche Bank's retail, private banking, and wealth management operations in India. This significant deal, involving approximately ₹29,000 crore in loans and ₹16,000 crore in deposits, will bring around 150,000 new customers and 1,000 employees to Kotak. The acquisition aims to bolster Kotak's focus on affluent and SME clients, while Deutsche Bank streamlines its global portfolio.
Stocks to Watch for July 1: Auto stocks, Kotak Mahindra Bank, Prestige Estates, KPIT Tech and more
From KPIT Tech expecting its financial performance for the June quarter (Q1FY27) to fall short of earlier expectations to Kotak Mahindra Bank Ltd signing a business transfer agreement worth about ₹281.7 crore in cash to acquire Deutsche Bank AG’s retail banking, here are stocks to track ahead of Wednesday trading session.
Kotak Mahindra Bank signs ₹282 crore deal to acquire Deutsche Bank India retail, wealth biz
Shares of Kotak Mahindra Bank Ltd ended at ₹392.95, down by ₹2.80, or 0.71%, on the BSE.
Kotak Mahindra Bank to acquire Deutsche Bank’s India retail unit - Investing.com India
Kotak Mahindra Bank to acquire Deutsche Bank’s India retail unitInvesting.com India
Kotak Mahindra Bank to acquire Deutsche Bank’s retail banking, private banking and wealth management business in India
Kotak Mahindra Bank is acquiring Deutsche Bank's retail, affluent private banking, and wealth management operations in India. This strategic move, involving approximately Rs 29,000 crore in loans and Rs 16,000 crore in deposits, aims to bolster Kotak's focus on affluent and SME segments. Deutsche Bank is divesting to simplify its business and concentrate on global ultra-high-net-worth clients.
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.
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.
HDFC Mutual Fund buys additional 10 lakh shares of Global Health for Rs 130 crore
HDFC Mutual Fund has secured an additional 10 lakh shares of Global Health, which is known for operating Medanta hospitals, from co-founder Sunil Sachdeva for Rs 130 crore. This acquisition builds on a prior purchase made last month. The transaction accounts for a 0.37% stake in the company. In related news, Global Health has reported an impressive 39.7% increase in its fourth-quarter profit after tax, totaling Rs 141.7 crore.
Ahead of Market: 10 things that will decide stock market action on Wednesday
Sensex and Nifty plunged over 1% on Tuesday amid global market weakness, IT sector losses, a weaker rupee and fresh foreign fund outflows. Investors will track technical levels, global cues, FII activity and key stock movements on Wednesday as markets look for direction after the sharp decline.
Swiggy Teams Up With Zerodha Fund House To Enable Mutual Fund Investments For Gig Workers
Swiggy partners Zerodha Fund House to let delivery partners invest in mutual funds from Rs 100.
Easing West Asia tensions boost IPO activity, 3 issues to open next week
The primary market is showing signs of revival as improving geopolitical conditions in West Asia have boosted investor sentiment, prompting three mainboard IPO launches next week and paving the way for more public issues in the pipeline. Cordelia Cruises operator Waterways Leisure Tourism, Jaipur-based jewellery manufacturer Advit Jewels, and IT solutions provider CSM Technologies will launch their maiden public issues over the next few days, while packaging solutions provider Knack Packaging is expected to announce its price band. Quick commerce unicorn Zepto is looking to raise over Rs 10,000 crore, and the country's largest fund house, SBI Mutual Fund, plans to launch its Rs 13,000-crore public issue next month, according to people familiar with the development. In June, CMR Green Technologies and Hexagon Nutrition have already launched their IPOs, while the public issue of insurtech unicorn Turtlemint Fintech Solutions is currently underway. Adding to the momentum, the National
'Fairy tale or mega bubble?' Uday Kotak says SpaceX IPO valuation does not fit any traditional matrix
Uday Kotak, Founder of Kotak Mahindra Bank, described SpaceX's IPO as a significant test of capitalism, highlighting its valuation beyond traditional metrics as a bet on humanity’s future and technological advancement. SpaceX debuted at USD 150, with a market cap of USD 1.77 trillion.