Bank stocks, NBFCs rally up to 4% after RBI changes policy stance
Shares of rate-sensitive stocks – banks and NFBCs – rallied up to 4% on Wednesday morning after the Reserve Bank of India (RBI) changed its policy stance to ‘neutral’ from ‘withdrawal of accommodation’ earlier. Led by gains in financials, the Sensex also jumped 500 points. The change in stance is being seen as a step…
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PNB shares rally 7% after reporting 159% YoY jump in Q1 profit. Should you invest?
Shares of state-owned lender Punjab National Bank (PNB) rallied 7% to the dayβs high of Rs 128 on BSR after reporting a 159% year-on-year (YoY) jump in its net profit for the quarter ended June 30, 2024, while the bankβs net interest income (NII) rose to Rs 10,476 crore, up by 10% YoY. The net…
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