According to analysts, fresh buying and short-covering by foreign institutional investors (FIIs), driven by optimism about potential trade deals with the US, led to a sharp rally in the market on Thursday. The Sensex reclaimed the 78,000 mark, while the Nifty breached the 23,700 mark. Both Indian benchmark indices—the BSE Sensex and NSE Nifty 50—staged…
IntroductionHDFC Bank has restarted discussions with Japan’s Mitsubishi UFJ Financial Group (MUFG) for a potential 20% stake sale in its subsidiary, HDB Financial Services. This move comes as the Reserve Bank of India (RBI) proposes changes to holding norms, pushing the bank to reevaluate its strategy ahead of HDB Financial’s anticipated IPO. What’s driving the…
Market experts are predicting that PSU stocks, including banks, will remain in a consolidation phase until there is clarity on the government’s policies, given the recent election results that left the BJP government short of the halfway mark. This outcome has heightened market concerns about the potential uncertainty in government operations and policy-making. In early…
State Bank of India (SBI) Quarterly Results: Key Highlights SBI’s Q4 Net Profit Surges 24% to Rs 20,698 Crore In a notable financial feat, State Bank of India (SBI), the nation’s largest lender, has reported a remarkable 24% increase in net profit, reaching Rs 20,698 crore for the quarter ending March 31, 2024. This surge…
In the ever-evolving financial landscape of India, the nation’s central bank is determined to empower account holders with the fruits of higher interest rates. The Reserve Bank of India (RBI) is advocating for an upward revision of savings deposit rates, but it appears that banks, with an eye on fortifying their profit margins, are not…
