State Bank of India (SBI) shares will be in focus on Friday after the public sector lender reported an 84% year-on-year (YoY) rise in standalone net profit for the December quarter, reaching Rs 16,891 crore compared to Rs 9,163 crore in the same period last year. The profit exceeded Street estimates of Rs 16,219 crore….
READ MOREThe combined market valuation of four of the top 10 valued firms declined by Rs 1,25,397.45 crore last week, with Reliance Industries taking the biggest hit, in line with weak investors’ sentiment at Dalal Street. Last week, the BSE benchmark index declined by 428.87 points or 0.55 per cent, and the Nifty dipped 111 points…
READ MOREMumbai: Increasing enforcement of penalties by the Reserve Bank of India (RBI) last fiscal are reflected in the sharp jump on bank payments under such heads during the year. Reserve Bank of India (RBI) data in the annually published Trend and Progress of Banking in India 2023-24 shows that the total penalties paid by public…
READ MOREMumbai: India will need ₹1,094 lakh crore to ensure an average annual growth rate of 8-9% by 2036 as per the government’s Viksit Bharat plan, State Bank of India chairman CS Setty said. Out of this amount, ₹323 lakh crore has to come from banks while the equity market will have to generate ₹643 lakh…
READ MOREThe combined market valuation of four of the top-10 most valued firms eroded by Rs 96,605.66 crore last week, with HDFC Bank taking the biggest hit. While Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank and State Bank of India suffered erosion from their valuation, Reliance Industries, Bharti Airtel, Infosys, ITC, Life Insurance Corporation of…
READ MOREShares of the state-owned State Bank of India (SBI) fell by 2.2% on Thursday to an intraday low of Rs 820.10 on the BSE as the company announced the appointment of Rama Mohan Rao Amara as the Managing Director (MD) of the bank. “Vide Notification No. 2/1/2024-BO.I dated 18.12.2024, issued by Department of Financial Services,…
READ MOREETMarkets.com In the Reserve Bank of India’s (RBI’s) Monetary Policy Committee (MPC) meeting on December 6, 2024, the cash reserve ratio (CRR) was reduced from 4.5% to 4%, releasing additional liquidity into the banking system. This move is expected to enhance the lending capacity of banks, supporting credit growth and economic recovery. On the other…
READ MOREThe combined market valuation of nine of the top-10 most valued firms surged Rs 2,29,589.86 crore last week, with Life Insurance Corporation of India emerging as the biggest gainer, in tandem with a rally in benchmark indices. Last week, BSE benchmark Sensex jumped 685.68 points or 0.86 per cent and NSE Nifty climbed 223.85 points…
READ MOREIndian benchmark equity indices rebounded sharply on Friday after their steepest drop in nearly two months during the previous session, as traders adjusted their positions for the monthly derivatives expiry. The BSE Sensex was trading 770 points, or 0.97%, higher at 79,814. The Nifty50 was up 217 points, or 0.91%, trading at 24,131 around 11:05…
READ MOREWith Q2FY25 earnings behind now, a performance analysis of PSU companies reveals 14 stocks which have not just shown a double-digit growth in their July-September quarter revenue and net profit but also posted double-digit returns from their respective 52 week lows. In this, five stocks are multibaggers viz. National Aluminium Company (NALCO), Housing & Urban…
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