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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.
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.
Japan's Yen hits 40-year low as clock ticks on intervention
Yen hits 40 year low near 162 per dollar, markets eye possible Tokyo intervention as Fed rate hike odds rise, dollar index climbs, US jobs data and Supreme Court rulings in focus
Nagarro Shares Jump 92% In Xetra Pre-Market After Persistent's Takeover Bid; Deal Risks Remain In Focus
According to NDTV Profit Research, one of the biggest concerns is Nagarro's slower growth profile. The company has delivered a three-year revenue CAGR of around 5%, compared with Persistent's 15-18% dollar revenue growth.
US dollar set to log highest monthly gain in one-year. US-Iran war, job data in focus
The US dollar is set for its largest monthly gain in a year, rising 2.5% in June due to safe-haven demand amid US-Iran tensions and Federal Reserve rate hike expectations. The euro, sterling, and Australian dollar are all facing declines as market uncertainties grow.
PNB to focus on Retail, Agriculture, MSME advances, CASA deposits to boost profitability: MD Ashok Chandra
Punjab National Bank is set to prioritize retail, agriculture, and MSME lending, alongside boosting low-cost deposits to fuel growth. MD and CEO Ashok Chandra highlighted the bank's strong financial position and commitment to digital expansion and customer service. PNB aims to contribute to India's 'Viksit Bharat' vision by 2047, integrating ESG principles for responsible and sustainable development.
Rupee opens 1 paise lower at 94.69 against US dollar
The Indian rupee opened weaker at 94.69 against the US dollar, down 1 paise. Market focus has shifted from oil prices to expectations of a US Federal Reserve rate hike in September, impacting Asian currencies including the rupee.
Dollar index holds firmly above 100 mark; US PCE data in focus
Dollar index is holding firmly above 100 mark for the third consecutive session on Monday assessing geo-political situation in Middle East. As per media reports, US President Donald Trump over the weekend threatened strikes on Iran if Hezbollah keeps attacking Israel, raising concerns about progress for peace talks between Washington and Tehran. Markets now look ahead to the weeks release of the US PCE price index, the Federal Reserves preferred measure of inflation after Fed left rates unchanged last week. At the time of writing, DXY which measures the greenback against a basket of currencies was quoting slightly higher at 100.73, its highest level in more than a year. Among basket currencies, EURUSD and GBPUSD were both trading marginally lower at $1.1493 and $1.3202 respectively.
L&T share price could rise another 15% as new growth engines take shape, CLSA says
CLSA highlighted the key differentiators of L&T's strategy that could yield the next multi-billion dollar businesses, which include largely addressable markets, IP-led growth, focus on high-margin products and globally competitive businesses.
Reliance Industries AGM Live Updates: All eyes on Jio IPO timeline, new energy biz
Reliance Industries AGM Live Updates: The biggest day in the calendar for Reliance Industries Ltd. is here as the oil-to-telecom-to-retail-to-new energy conglomerate will be holding its 49th Annual General Meeting (AGM), starting 2 PM this afternoon. The big focus of the street has been on a clear timeline for the Reliance Jio IPO and that will remain the biggest talking point during the course of Chairman and Managing Director Mukesh Ambani's speech. Watch this space for all the LIVE updates from the AGM.
Reliance Industries shares in focus ahead of 49th AGM. What are shareholders expecting from Mukesh Ambani?
Reliance Industries shares are in focus ahead of the 49th AGM, with investors tracking possible updates on the Jio IPO, Reliance Retail listing timeline and AI investments. Sentiment remains cautious as the stock trades below recent highs, while Q4 results showed mixed earnings with profit decline and revenue growth.
Nykaa Shares In Focus As Brokerages Stay Mixed On Ambitious Growth Plan — Should You Buy?
Shares will in focus after Nykaa announced an ambitious five-year growth roadmap, estimating to double its business scale by FY30, led by expansion across beauty, fashion, offline retail and private labels.