Markets
SBI Cards: Maintain ‘buy’ with unchanged TP of Rs 1,155
Credit costs remained elevated at 11% (annualised) vs an average c12% in the previous four quarters (and lower than the 13.7% in 4QFY20). By HSBC Global Research 4QFY21: Lower-than-expected advances yields drove the PAT miss; credit costs in line with expectations. Gross stressed loans (including restructured loans) declined sequentially...
TMB may hit IPO market with Rs 1,000-1,300 cr issue by Nov
On the strategies for the FY 2021-22, Moorthy said there would be increased thrust on consistent CASA growth, credit growth with specific focus on retail lending. The bank will leverage technology for business development and to enhance delivery efficiencies of all banking services. Private sector lender Tamilnad Mercantile Bank...
Rice output rising continuously, thanks to 2 high-yield varieties from ICAR
“If the prediction of IMD comes true, farmers will realise the efficacy of CR Dhan 801 and this will help grow the variety,” Singh said. At least 20,000 quintal of seeds (sufficient for 60,000 hectare) of this variety may be available during kharif 2021 season in eastern UP, he...
RIL, HDFC Bank lift Sensex over 550 pts, Nifty ends above 14,650; here’s what analysts make of today’s trade
All the Nifty sectoral indices ended in the positive territory. Nifty PSU Bank index gained 2.3 per cent, BSE Sensex and Nifty 50 ended over one per cent higher on Tuesday, on the back of across-the-board buying mainly in Reliance Industries Ltd (RIL), HDFC Bank, ICICI Bank, Larsen &...
Did Elon Musk sell his Bitcoin? No. Tesla CEO explains why his company sold 10% of its holding
Elon Musk on Twitter said that Tesla sold 10 per cent of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet. Image: Reuters Elon Musk said his Tesla Inc has told 10 per cent of its Bitcoin holdings to prove...
Gold prices fall for 4th straight day ahead of US Fed policy; down over Rs 8,700 from record high
The broad dollar weakness is not letting gold prices fall sharply but the trend is a little sluggish ahead of tomorrow’s Fed policy. Image: Reuters Gold prices fell for the fourth straight day in India on Tuesday ahead of US Federal policy scheduled on Wednesday. MCX gold June futures...
Maruti, IRCTC, Axis Bank, SBI Cards, SAIL, Tata Steel, Wipro, Tech Mahindra among stocks in focus
On the technical charts, the short-term trend of NSE’s Nifty seems to be positive. Image: Reuters SGX Nifty was trading in the negative territory, down 40 points before the opening bell, indicating a gap-down start for BSE Sensex and Nifty 50. On the technical charts, the short-term trend of...
Share Market LIVE: Sensex, Nifty may open in red; Oxford Economics lowers India’s 2021 GDP growth forecast
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices BSE Sensex and Nifty 50 were staring at a negative opening on Tuesday, as suggested by trends on SGX Nifty via India Infoline
ICICI Bank Rating: buy-Healthy operating profit growth in Q4
We tweak earnings & see ROE rising to 14-15%; ICICI stays among top sector picks. ICICIB’s profit for Q4FY21 at Rs 44 bn (Rs 12 bn last year) was below estimate as buffer provisions & lower treasury offset healthy op. profit growth of 21%. We are encouraged to see...
M&M Fin: Maintain ‘add’ with revised TP of Rs 183
Stressed assets largely steady; second wave poses uncertainty. By HDFC Securities Institutional Research Mahindra and Mahindra Financial Services (MMFS) reported an in-line operating performance, registering NII/PPOP growth of 13.2%/9.4% YoY, with higher-than-expected NII (largely due to lower cost of funds) and operating expenditure having off-setting impacts. Disbursements were muted...
PowerGrid InvIT IPO to open on Apr 29 at Rs 99-100 price band
This is the first time a PSU in the power sector will monetise its assets through the InvIT model. PGlnvlT, the infrastructure investment trust (InvIT) sponsored by state-run electricity transmission utility Power Grid Corporation of India (PGCIL), will open the initial public offer (IPO) of the platform on April...
Maintain ‘buy’ on Crisil with revised TP of Rs 2,261
Domestic healthy, GAC robust. For Q1CY21, ratings revenue grew 12% YoY led by 6% growth in domestic ratings on strong surveillance fees and new client addition. By Edelweiss Securities CRISIL’s Q1CY21 revenue grew 16% YoY to Rs 4.9billion (in line) driven by strong sales across segments. This was led...
FCI’s wheat purchases at brisk pace amid outcry over ‘end of MSP’
Going by the pace of procurement and prevailing low market rates, the government may end up buying more than the target, which will put pressure on it to liquidate the stocks. By Prabhudatta Mishra Even as sections of the farming community are fearing that new farm laws would destroy...
HCL Technologies Rating: add-A disappointing show from the company
Expectations around articulation of a formal capital return policy (like TCS & Infosys) too met with a disappointment. HCLT has reported disappointments across the board – revenue growth, margins and outlook. Organic growth (+1.6% q-o-q, CC) was tepid and in line with a typical March quarter even before the...
Sensex, Nifty rally during week’s first trading session; will bulls continue running further?
S&P BSE Sensex zoomed 508 points to close at 48,386 while the 50-stock NSE Nifty ended just below 14,500. Benchmark indices got off to a flying start this week, surging higher during Monday’s trading session. S&P BSE Sensex zoomed 508 points to close at 48,386 while the 50-stock NSE...
BSE SME Head: SMEs don’t understand benefits of equity funding due to lack of financial literacy | Interview
“Total nine startups have been listed on the BSE Startups platform.” Credit and Finance for MSMEs: Small business listing platform BSE SME has been awaiting the quintessential stock market buzz one would expect in a country with around 6.33 crore MSMEs. Over the past nine years, 336 SMEs have...
ICICI Bank share price soars post stellar Q4 earnings; brokerages remain bullish, increase target price
Seeing the stellar rise in earnings, brokerage firms have increased their target prices for ICICI Bank shares. Private sector lender ICICI Bank’s share price soared 5.9% on Monday to hit an intra-day high of Rs 604.9 as investors reacted to the strong quarterly earnings growth. ICICI Bank said its...
PowerGrid InvIT IPO opens for bidding on April 29; check issue size, price, other details
On successful listing, PowerGrid InvIT could become the first state-owned trust to explore this route to monetise its assets. PowerGrid Infrastructure Investment Trust (InvIT) will knock on the doors of capital markets from April 29 to raise Rs 7,734 crore through an initial public offering (IPO) of its units....
