NEWS ABOUT KOTAK MAHINDRA BANK
Foreign lenders lured by rare stake sales in India banks, but tighter rules weigh
Foreign banks from Japan and the Middle East are showing interest in acquiring stakes in Yes Bank and IDBI Bank. The Indian economy's rapid growth is a major attraction, although tight regulations and high valuations could be challenging. The deals, if successful, would mark a significant move in India's banking sector.
Foreign lenders lured by rare stake sales in India banks, but tighter rules weigh
Foreign banks from Japan and the Middle East are eyeing majority stakes in India's Yes Bank and IDBI Bank, as existing investors look to divest. Yes Bank has attracted interest from Sumitomo Mitsui Banking Corp and Emirates NBD, while IDBI Bank has seen interest from Fairfax Group and Kotak Mahindra Bank.
Powell's rate cut hint fuels 612-point Sensex rally, market cap swells by Rs 2.3 lakh crore
The stock market rallied, pushing the Sensex up by 612 points and the Nifty above the 25,000 mark. This surge was primarily fueled by strong performances in the financial and IT sectors, with major players like HDFC Bank, Reliance, ICICI Bank, NTPC, HCL Tech, Infosys, and TCS leading the charge. However, some stocks like Adani Ports, Maruti, Kotak Bank, and Nestle India saw declines.
Clearance Sale on Amazon: Save Up to 65% on Washing Machines, Refrigerators, Chimneys, and Dishwashers!
Amazon has just unveiled its spectacular clearance event, from 23rd to 28th August, offering great deals on a range of essential home appliances. Dive into the remarkable discounts of up to 65% on top brands like Whirlpool, IFB, Samsung, Hindware, Faber, and more. Whether you are in the market for a new washing machine, refrigerator, chimney, or dishwasher, now is the perfect time to upgrade with premium products at extraordinary prices. Check out this article to explore the top deals and make the most of this Amazon Sale!
Attrition eases in India's private sector banks
Private sector banks in India saw a notable reduction in employee attrition during FY24 after it had surged in FY23. HDFC, ICICI, and Kotak Mahindra banks reported improved turnover rates, thanks to various HR strategies and slower hiring. Experts attribute this to enhanced career path options and market adjustments.
Indian banks' dividend growth set to slow down amid deposit rush: S&P Global Market Intelligence
India's major banks experienced a slowdown in dividend growth after a surge in the previous fiscal year due to rising deposit costs and intensified competition. Banks such as State Bank of India and HDFC Bank faced pressure on margins and profitability, leading to lower dividend projections and tighter liquidity positions despite deposit-attracting strategies.
Sensex, Nifty open marginally lower weighed by bank and IT stocks
On Wednesday, the Indian stock market experienced a minor downturn driven by financial and IT stock declines. The Sensex dropped 98 points, while the Nifty50 decreased by 17 points. Investors awaited the U.S. Federal Reserve meeting minutes for clues on rate cuts. Foreign investors continued to sell, while domestic investors showed buying interest.
RBI move to allow AMC license to IndusInd Bank could open route for para-banking activities by banks
Reserve Bank of India's approval for IndusInd Bank to establish a wholly owned asset management company (AMC) could set a precedent for other banks to create similar para-banking subsidiaries. This move follows previous RBI decisions allowing HDFC Bank and ICICI Bank to increase stakes in their insurance subsidiaries.
Market Wrap: Fed rate cut hopes fuel Sensex’s 378-point rally; m-cap surges by over Rs 2 lakh cr
The domestic blue-chip indices closed higher on Tuesday, thanks to gains in financials and information technology stocks. The Sensex rose 378 points to 80,803, and the Nifty added 126 points to finish at 24,699. However, newly listed Ola Electric Mobility ended 5.7% lower due to profit booking. Investor focus now shifts to upcoming Fed announcements.
Yes Bank appoints veteran banker Sumit Bali to head its retail business
Sumit Bali has been appointed by Yes Bank to head its retail business and collections from August 26. With extensive experience in retail banking, Bali joins Yes Bank after his tenure at Axis Bank. His appointment comes at a critical time as Yes Bank is in talks with Sumitomo Mitsui and Emirates for a stake acquisition.
Focusing on higher deposit growth, adjustment, slow credit growth: Will all private sector banks follow the HDFC Bank route ?
Except for the last three years, private sector banks have been big wealth creators and probably a set of stocks where every foreign portfolio investor (FPI) had or has a stake in them. In the last three years they have underperformed and questions were raised about is the best behind them. Then come these words, focusing on higher deposit growth / Adjustment period / slow credit growth. Probably this is what the street knew for quite some time and wanted to hear it from the management so that it can reset its expectations. It was not only HDFC banks which have been underperforming for the last three years. If one looks at the other major private sector banks all of them are facing issues of different nature. Will others follow the same path so that expectations are reset. To some it might come as a surprise, but the relative performance of HDFC banks in the last two months has been much better.
Rupay credit cards on UPI will now earn same reward points like other RuPay cards including on these UPI transactions
RuPay credit card: The National Payments Corporation of India (NPCI) in a circular directed all RuPay credit card issuing banks to ensure that reward points and other benefits should not be lower for RuPay credit card on Upi transactions and RuPay credit card except for certain specified transactions. Read below to know more about RuPay credit cards.
Kotak's auto financing arm bets on SUVs and used car business
Kotak Mahindra Prime aimed to grow its ?30,000-crore book by targeting SUV and used car sectors. The finance arm anticipated that festive season discounts and custom financing would boost sales. Director Shahrukh Todiwala projected single-digit industry growth, expecting inventory pile-ups at dealerships to clear during the festive months.
What Quant Small Cap Fund bought and sold in July
In its July portfolio, the smallcap fund added 2.71 crore shares of HFCL, taking the total count to 7.37 crore. It was 4.65 crore in June. The fund held 1.17 crore shares of Aditya Birla Fashion and Retail in June, taking the total share count to 2.94 crore in July post adding 1.77 crore shares to its portfolio.
F&O stocks to buy today: Asian Paints, SAIL among top 6 trading ideas for 1 August 2024
On Thursday, the Indian market was projected to rise due to global market trends. The US and Asian markets performed well. Analysts provided specific support and resistance levels for Nifty and Bank Nifty, alongside stock recommendations. Traders were advised to maintain long positions and take new ones on dips.
D-St investors add Rs 7 lakh crore to kitty as Nifty ends at record high; Sensex soars 1,293 points
Sensex News: On Friday, the Sensex surged nearly 1,300 points, while the Nifty50 reached a record high, driven by broad-based buying despite concerns over the capital gains tax hike in the Budget. The total market capitalization of BSE-listed companies increased by Rs 7.16 lakh crore to Rs 456.98 lakh crore. Information technology stocks, including Mphasis, LTIMindtree, and Infosys, saw gains of up to 7% following positive U.S. economic growth data for the second quarter.
Capital gains tax hike can impact valuation, little upside left in Nifty: Nomura
Investors' faith fueled Dalal Street’s high valuation multiples, but Nomura cautioned on potential headwinds if domestic equity flows drop due to tax hikes. Nomura's 2024 Nifty target sees little upside. Key stock picks include SBI, ICICI Bank, and others. Sectors like housing, cement, and solar energy may benefit from budgetary changes.
Kotak Bank shares drop over 3% as Q1 NIMs disappoint. Should you invest?
Kotak Mahindra Bank saw its shares drop 3% due to NIM disappointment at 5.02% for Q1FY25. Despite a robust 81% increase in standalone net profit to Rs 6,250 crore, concerns persist over funding costs and margin pressures. Brokerages advise caution as RBI restrictions continue to impact growth and profitability.
Sensex falls over 300 pts as RIL & bank stocks tumble, Nifty below 24,400
Ahead of the budget, Indian markets fell. Sensex dropped 355 points, Nifty50 by 148 points. Reliance fell 2.5% from lower fuel margins; HDFC Bank, the country's top private lender, rose 1% after beating profit forecasts; Wipro dropped 8% due to weak demand in Europe and Asia-Pacific. Mixed performance among key stocks in early trading.
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