Market News
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HDFC Bank, SBI among 10 stocks that saw highest selling by LIC in Q4. Do you own any?
Life Insurance Corporation of India has significantly reduced its holdings in several major listed companies during the latest quarter. Notable among these are HDFC Bank and State Bank of India, with LIC divesting substantial amounts. These portfolio adjustments offer insights into the insurer's strategic repositioning amidst market volatility.
Mcap of 6 most valued firms surges by ₹74,111 cr, Reliance biggest winner
The combined market valuation of 6 of the top-10 most valued firms surged by Rs 74,111.57 crore last week, with Reliance Industries emerging as the biggest gainer. Last week, the BSE benchmark climbed 177.36 points, or 0.23 per cent. "Markets ended the week with marginal gains amid a highly volatile and range-bound trading environment. Benchmark indices witnessed sharp intraday swings throughout the week, driven by persistent rupee weakness, mixed global cues, sectoral rotation, and continued uncertainty around inflation and interest rates," Ajit Mishra SVP, Research, Religare Broking Ltd, said. From the top-10 pack, Reliance Industries, ICICI Bank, Tata Consultancy Services (TCS), Bajaj Finance, Larsen & Toubro, and Life Insurance Corporation of India (LIC) were the gainers, while HDFC Bank, Bharti Airtel, State Bank of India and Hindustan Unilever faced erosion from their valuation. Reliance Industries added Rs 24,696.89 crore, taking its market valuation to Rs 18,33,117.70 ...
LIC emerges as highest profit-making financial company in March quarter
Life Insurance Corporation of India has achieved the highest profit in the Indian financial sector for the March quarter. The company reported a significant jump in net profit. State Bank of India and HDFC Bank followed with substantial profits. LIC's assets under management and premium income also saw growth. Vodafone Idea recorded a record quarterly profit due to statutory relief.
INR rebounds under Rs 96/$ mark tracking positive cues from local equities
The Indian rupee rose for the second consecutive session on Friday to close at 95.73 (provisional) against the US dollar on softening of crude oil prices and supposed intervention by the Reserve Bank. Markets found some comfort after comments from US Secretary of State Marco Rubio hinted that diplomatic talks linked to the Iran situation were moving in a constructive direction. Moreover, positive domestic equities and a decline in US treasury yields also supported the rupee. Indian shares ended modestly higher on Friday, giving up some early gains amid renewed optimism about U.S.-Iran talks. The NIFTY 50 and BSE Sensex settled higher, with the Sensex up 231.99 points (0.31%) to end at 75,415.35 and the NIFTY adding 64.60 points (0.27%) to close at 23,719.30.
Banks casual in granting big loans, strict with small borrowers: SC
The Supreme Court has noted a troubling trend where banks like State Bank of India are casual in sanctioning large corporate loans. However, they impose difficult conditions on ordinary citizens seeking small personal loans. The court suggested the government frame policies for easier loan access for the less privileged.
Banks casual in granting big loans, strict with small borrowers: SC
The Supreme Court has noted a troubling trend where banks like State Bank of India are casual in sanctioning large corporate loans. However, they impose difficult conditions on ordinary citizens seeking small personal loans. The court suggested the government frame policies for easier loan access for the less privileged.
SBI staff threatens to go on two-day nationwide strike from May 25
SBI staff, under the All India State Bank of India Staff Federation, are threatening a two-day nationwide strike from May 25 over demands including adequate employee recruitment and stopping outsourcing of permanent jobs. The strike, potentially impacting operations for five days due to weekends and an Eid holiday, will be preceded by a conciliation meeting on May 23.
JSW Motors ties up Rs 8,000 crore funding from India’s top bank
JSW Motors, part of Sajjan Jindal's business empire, has secured a significant 80 billion rupee funding line. This financial boost from State Bank of India will fuel the development of a new greenfield manufacturing facility in Maharashtra. The venture aims to establish India's first homegrown new energy passenger vehicle brand in decades.
Vedanta, SBI among 10 stocks that saw highest DII selling in value terms in Q4. Do you own any?
Domestic institutional investors trimmed holdings in several large-cap stocks during the March quarter. State Bank of India, Vedanta, and Hindalco Industries were among the top ten stocks experiencing significant DII selling. This shift occurred amid rising geopolitical and inflation concerns. Investors are advised to monitor these movements closely.
RBI likely to pay a big dividend to Centre
Economists estimate the surplus transfer-often referred to as the central bank's dividend to the government-in the range of Rs 2.7 lakh crore to Rs 3 lakh crore. In the FY27 Union Budget, the government has estimated Rs 3.16 lakh crore in dividends from state-owned companies and surplus transfers from the central bank. Last year, the RBI transferred Rs 2.68 lakh crore, 27% higher than the previous year.
Vodafone Idea draws up ₹1 trillion cash strategy amid dues, capex push
Vodafone Idea's plan comes as analysts raise concerns about the company’s future payment obligations to clear spectrum dues, and the company is confident it can raise funds from a State Bank of India-led consortium.
SBI employees' federation stages dharna in Kolkata, plans nationwide strike on May 25-26
State Bank of India Staff Federation protested in Kolkata demanding recruitment and an end to mis-selling insurance. Employees will strike nationwide on May 25 and 26. The federation alleges issues with resolving employee concerns and agreements. Previous protests included badge-wearing and demonstrations. Future actions involve candle marches and the planned strike.