ORIENTAL BANK OF COMMERCE
RBI: After another status quo year, all eyes on a growth-propping rate cut with new Guv at helm
Shaktikanta Das concluded his six-year term as RBI governor, prioritizing inflation control over rate cuts. His successor, Sanjay Malhotra, faces pressure to stimulate growth amid slowing GDP and dissent within the rate-setting panel. Malhotra's stance on rate cuts remains uncertain, particularly given the US Fed's actions and their impact on the rupee.
Commerce ministry may face possible repeat of 2011 trade data error
India's November 2024 gold import figures, showing a record high of $14.86 billion and a quadrupled increase, are under scrutiny by the commerce ministry due to a potential discrepancy. This surge contributed to a record trade deficit, prompting investigations into possible data errors similar to a 2011 incident. Experts are divided, with some suspecting miscalculations while others find double-counting improbable.
These large-caps have ¡®strong buy¡¯ & ¡®buy¡¯ recos and upside potential of more than 32%
Given the diverse nature of factors that can and do impact equity markets, volatility cannot and should never be ruled out under any market condition. That does not, however, mean one should not be bullish. So, rather than worrying about volatility, be prepared for it ¨C even as you remain bullish. There are many ways to ride volatility, but three good ways are: One, stay with companies where managements have a record of dealing with sudden slowdowns in the economy; two, whose balance sheets are healthy; and three, where the overall growth path is visible. More than anything else, be prepared for the fact that, in the short term, the value of your portfolio might suffer, Nut in the long term, they are businesses worth owning. ET Screener powered by Refinitiv¡¯s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of ¡°buy¡± or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
Government not considering PSU bank merger: MoS Finance
The government is currently not considering any further mergers of public sector banks, according to Minister of State for Finance Pankaj Chaudhary. Chaudhary noted that previous reforms and mergers have strengthened the banks' financial conditions, improved their capital adequacy ratio, and reduced non-performing assets. The 2019 mergers consisting of several banks have led to enhanced synergies and technological integration.
FSIB recommends Binod Kumar for post of Indian Bank MD & CEO
The Financial Services Institutions Bureau (FSIB) has recommended Binod Kumar, current Executive Director of Punjab National Bank, as the next Managing Director of Indian Bank. Kumar is set to replace S L Jain, who retires next month. The decision follows a rigorous selection process that involved interviewing 15 candidates. The final appointment awaits approval from the Prime Minister-led appointments committee.
India Inc earnings downgrades worst since 2020. Are we staring at a bear market?
Indian companies are facing their most significant earnings downgrades since the start of the COVID-19 pandemic in 2020, causing concern among investors. Factors like heavy rains, reduced government spending, and slowing demand in sectors like FMCG and retail have contributed to this trend.
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These mid-cap stocks with ¡®Strong Buy¡¯ & ¡®Buy¡¯ recos can rally over 26%, according to analysts
The market focus, naturally, has been on FII selling this month. In the process, the street seems to have forgotten another reason for the current bearishness: The deadline for implementing the measures market regulator SEBI ordered to curb rising speculation is fast approaching. These measures were announced mid-year, to be implemented towards the end of 2024. So, there is a technical reason as well for the correction. And if the Nifty sees further correction, mid-caps are likely to be hit hard. However, some of them may buck the trend. ET Screener, powered by Refinitiv¡¯s Stock Report Plus, lists quality stocks with high upside potential over the next 12 months, and having an average recommendation rating of ¡°Buy¡± or "Strong Buy". This predefined screener is only available to ET Prime users.
FSIB selects Ashok Chandra for MD of Punjab National Bank
FSIB has recommended Ashok Chandra, currently Executive Director of Canara Bank, for the role of MD & CEO of Punjab National Bank, succeeding Atul Kumar Goel in December. Chandra, with a Masters in Economics, began his banking career in 1991 and was chosen from 16 candidates based on performance and experience. The final appointment decision awaits the Appointments Committee of the Cabinet.
Next-gen e-commerce: BigBasket¡¯s Hari Menon to track the quick-commerce surge and currency of speed amid big opportunities¡ªregister now to join the Fireside chat at ET Soonicorns Summit 2024
At the ET Soonicorns Summit 2024, on September 20, learn from disruptors to take ownership of your startup¡¯s journey and scale it to the next level. In a Fireside chat, BigBasket¡¯s Hari Menon will dive deep into the previously written-off but now booming quick-commerce sector, share BigBasket¡¯s diversification playbook, and discuss what the future holds for the sector in terms of growth and opportunities. Bengaluru is calling!
Not so fast, quick com(m)-rades
Two Stanford dropouts, Kaivalya Vohra and Aadit Palicha, have become the youngest Indian billionaires with their quick commerce venture, Zepto. Despite rapid growth, the long-term profitability of such businesses remains uncertain. The competitive landscape challenges established retailers, but the sustainability of high margins is questionable.
After two years of RBI¡¯s regulatory tightening, ready for selective re-rating? 6 financial service stocks with upside potential of up to 29%
If one looks in bits and pieces, it might not appear to be significant, but put all of them together and then one would realize that in the last two and half years, RBI has tightened each and every segment of the financial services industry. Whether it is housing finance, unsecured loan or gold loan, all of them have gone through an exercise where the bar of regulatory requirements has been raised. So, whether it is the requirement of the capital for a business or monitoring the end use for which the money is being raised.
Block deals worth over Rs 9,947 crore this week. HDFC Bank, Infosys, Adani Ports among stocks with major action
In the large cap segment, 15 companies witnessed significant block deals worth Rs 5,725 crore led by HDFC Bank with 43 block counts totalling to Rs 2,446 crore. The next in line were Adani Ports and Special Economic Zone (Rs 469 crore), Godrej Consumer (Rs 421 crore), TVS Motor Company (358 crore), Infosys (Rs 339 crore), Interglobe Aviation (Indigo, Rs 288 crore) and Maruti Suzuki (Rs 218 crore).
If Modi is re-elected, these sectors will get his most attention
Prime Minister Narendra Modi has pledged to propel India to become the world's third-largest economy if re-elected for a third term. His ambitious 100-day agenda post-election includes prioritizing manufacturing, new-age technology, infrastructure development, and clean energy sectors. The government aims to implement reforms to boost economic growth and attract foreign investment.
FSIB defers interview for SBI chairman's position
FSIB defers SBI Chairman selection interview for unknown reasons. New date post new government formation after June 4 to replace Dinesh Khara, retiring on August 28. FSIB recommends candidate, final decision by Appointments Committee of the Cabinet led by PM Narendra Modi. Selection panel includes former DoPT secretary Bhanu Pratap Sharma, Animesh Chauhan, Deepak Singhal, and Shailendra Bhandari.
These largecaps have ¡®strong buy¡¯ & ¡®buy¡¯ recos and upside potential of more than 20%
While it might be a bit early to say, but the way things have panned in the last couple of weeks, it is clear that bulls are not in any mood to leave the street. At the same time bears are also clear they will wait and on sidelines till election results. Two things one should remember at this point of intersection which rarely comes, that finally it is the business and the management which matters. Probably management of the large cap companies have that in abundance for two things, manage difficult times and by the end of the day grow. The only thing any investor needs to make sure is that in any corrective phase, bias when making fresh investment should be toward large cap stocks as there is a possibility that they would see less damage in corrections. ET screener powered by Refinitiv¡¯s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of ¡°buy¡± or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
FSIB to interview candidates for SBI Chairman post on Tuesday
FSIB to select replacement for retiring SBI Chairman Dinesh Khara. Decision by Cabinet Committee, headed by PM Modi. FSIB led by Bhanu Pratap Sharma. Panel includes Financial Services Secretary, Public Enterprises Secretary, and RBI Deputy Governor. Animesh Chauhan, Deepak Singhal, Shailendra Bhandari also on panel.
FSIB selects IFCI MD as SIDBI head, Sanjay Shukla for NHB MD
The Financial Services Institutions Bureau (FSIB) has recommended Manoj Mittal as the Chairman and Managing Director of Small Industries Development Bank of India (SIDBI) and Sanjay Shukla as the Managing Director of National Housing Bank (NHB). Mittal will replace S Ramann, who joined SIDBI in April 2021. FSIB interviewed 21 candidates and recommended Mittal for the position.
These largecaps have ¡®strong buy¡¯ & ¡®buy¡¯ recos with upside potential of over 20%
In volatile markets, where there is a readjustment in valuation across midcap space, it is only a matter of time that the concept of relative valuation will come into play and large caps will get more attention from the market. Stocks from different sectors are making to the list, this week, stocks from Oil refining and marketing, private banks, insurance, auto ancillary and fertilizer space. ET screener powered by Refinitiv¡¯s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of ¡°buy¡± or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
These largecaps have ¡®strong buy¡¯ & ¡®buy¡¯ recos and upside potential of more than 20%
While the correction has been going on in the market since the middle of July, it is only on days like Monday where everyone on the street feels that equity markets are correcting. It is only a matter of time that the concept of relative valuation will come into play and large caps will get more attention from the market. Stocks from different sectors are making to the list, this week, stocks from Oil refining and marketing, private banks, insurance, auto ancillary and fertilizer space. ET screener powered by Refinitiv¡¯s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of ¡°buy¡± or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
FSIB recommends Vinay Tonse for MD position in SBI
Vinay M Tonse has been recommended for the position of Managing Director of State Bank of India (SBI) by FSIB, the headhunter for directors of state-owned banks and financial institutions. Tonse, who is currently serving as deputy managing director at SBI, was selected after interviews with 13 candidates.
These largecaps have ¡®strong buy¡¯ & ¡®buy¡¯ recos and upside potential of more than 20%
While Nifty might be correcting from its recently formed new highs, the broader market continues in bullish mode making analysts bullish on select large cap stocks. Making to the list are companies from different sectors, right from an insurance provider to banks to new age companies. ET screener powered by Refinitiv¡¯s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of ¡°buy¡± or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
These largecaps have ¡®strong buy¡¯ & ¡®buy¡¯ recos and upside potential of more than 25%
As the NIFTY and broader market continues in bullish mode with very minor intraday corrective moves, analysts are bullish on select large cap stock. Making to the list are a host of companies from different sectors, like new age company, a fertilizer company which just announced a restructuring and an insurance company which despite all efforts is still not able to get past some selling pressure. ET screener powered by Refinitiv¡¯s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of ¡°buy¡± or "strong buy". The screener applies different algorithms for all BSE and NSE stocks. This predefined screener is only available to ET Prime users.
These largecaps have ¡®strong buy¡¯ & ¡®buy¡¯ recos and upside potential of more than 25%
As the NIFTY and broader market continues in bullish mode with very minor intraday corrective moves, analysts are bullish on select large cap stock. Making to the list are a host of companies from different sectors, like new age companies, a fertilizer company which just announced a restructuring and an insurance company which despite all efforts is still not able to get past some selling pressure. ET screener powered by Refinitiv¡¯s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of ¡°buy¡± or "strong buy". The screener applies different algorithms for all BSE and NSE stocks. This predefined screener is only available to ET Prime users.
These largecaps have ¡®strong buy¡¯ & ¡®buy¡¯ recos and upside potential of more than 25%
As the NIFTY and broader market continues in bullish mode with very minor intraday corrective moves, analysts are bullish on select large cap stock. Making to the list are a host of companies from different sectors, like new age companies, a fertilizer company which just announced a restructuring and insurance company. ET screener powered by Refinitiv¡¯s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of ¡°buy¡± or "strong buy". The screener applies different algorithms for all BSE and NSE stocks. This predefined screener is only available to ET Prime users.
These largecaps have ¡®strong buy¡¯ & ¡®buy¡¯ recos and upside potential of more than 25%
As the NIFTY and broader market continues in bullish mode with very minor intraday corrective moves, analysts are bullish on select large cap stock. Making to the list are a host of companies from different sectors, like new age companies, a fertilizer company which just announced a restructuring and insurance company. ET screener powered by Refinitiv¡¯s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of ¡°buy¡± or "strong buy". The screener applies different algorithms for all BSE and NSE stocks. This predefined screener is only available to ET Prime users.
Union Bank puts Visa Steel's debt on sale at lower price
The bank has set the reserve price at ?143 crore, which is lower than the previous quarter's price of ?160 crore. Additionally, debts of six other companies with total outstanding of ?300 crore, including exposures to Asian Colour Coated Ispat Limited (ACCIL) and SDB Developers, are also up for sale.
These largecaps have ¡®strong buy¡¯ & ¡®buy¡¯ recos and upside potential of more than 25%
As the NIFTY and broader market continues in bullish mode with very minor corrective moves, analysts are bullish on select large cap stock. Making to the list are a host of companies from different sectors, like new age companies, speciality chemical, a fertilizer company which just announced a restructuring and insurance companies. ET screener powered by Refinitiv¡¯s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of ¡°buy¡± or "strong buy". The screener applies different algorithms for all BSE and NSE stocks. This predefined screener is only available to ET Prime users.
Ashwani Kumar new MD & CEO of UCO Bank
Ashwani Kumar has been appointed as the new MD and CEO of city-based public sector UCO Bank with effect from June one. Prior to this, he was the executive director of the state-owned Indian Bank and is a qualified chartered accountant, a statement by the bank said on Saturday.
Government appoints Ashwani Kumar as MD of UCO Bank
The central government appoints Ashwani Kumar as managing director and chief executive officer in UCO Bank for a period of three years, the Finance Ministry said in a notification. The appointment comes into effect from the date of assumption of office on or after June 1, 2023 or until further orders, it said. Kumar, a chartered accountant, rose through ranks serving various offices of five public sector banks -- Bank of Baroda, Corporation Bank, Oriental Bank of Commerce, Punjab National Bank and Indian Bank.
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