You are here: Home » News-CM » Equities » Market Report

PSU bank stocks gain

A rangebound movement was witnessed as key benchmark indices hovered in positive zone in mid-morning trade. At 11:15 IST, the barometer index, the S&P was up 68.20 points or 0.25% at 27,741.80. The gains for the 50 index were lower than those for the in percentage terms. The was currently up 4.65 points or 0.05% at 8,588.05. The broad market depicted strength. There were nearly two gainers against every loser on BSE. 1,544 shares rose and 810 shares declined. A total of 138 shares were unchanged. The Mid-Cap index was currently up 0.2%, underperforming the Sensex. The Small-Cap index was currently up 0.62%, outperforming the Sensex.

Stocks of public sector banks edged higher. Among public sector banks, (up 1.52%), (up 1.55%), (up 0.97%), (up 0.89%), (up 0.55%) and Union (up 0.53%) rose.

State (SBI) rose 1.41% at Rs 255.45 after the bank said that the Executive Committee of the Central Board (ECCB) at its meeting held on 14 October 2016, approved to dilute upto 5% stake of SBI in SBI Life to a non-promoter entity. The announcement was made after market hours on Friday, 14 October 2016.

rose 0.51% after the bank said that the majority of the directors approved to raise additional Tier-I capital funds through BASEL-III compliant additional Tier-I perpetual bonds. The announcement was made after market hours on Friday, 14 October 2016. said that the majority of the directors have taken note of the contents and the recommendations of the bank in the circular note and consented to raise additional Tier-I capital funds through BASEL-III compliant additional Tier-I perpetual bonds in rupee terms domestically for an amount not exceeding Rs 2500 crore in single tranche or in tranches depending on the market conditions to maintain healthy capital to risk (weighted) assets ratio (CRAR), during the current financial year. A bond committee will be constituted to determine the structure of the issue size, tenor, coupon, timing of the issue, date of allotment, listing and other matters connected to the issue.

On 6 October 2016, the bank had proposed to circulate a note among the directors of the board of the bank in respect of raising additional funds through BASEL-III compliant additional Tier-I bonds in rupee terms.

Stocks of private sector banks declined. (down 0.08%), RBL Bank (down 0.24%), (down 0.77%) and (down 0.65%) edged lower. (up 1.7%) edged higher.

Index heavyweight was down 1.03% at Rs 1,248.50. The stock hit a high of Rs 1,270 and a low of Rs 1,247.60 so far during the day.

was up 6.04% at Rs 256.45. The bank announced after market hours on Friday, 14 October 2016 that its board of directors at a meeting held on 14 October 2016, approved the appointment of Anup Bagchi, presently Managing Director & CEO, ICICI Securities, as Executive Director of subject to regulatory approvals for a period of five years effective 1 February 2017 or the date of approval of his appointment by the Reserve (RBI), whichever is later. Anup Bagchi has been with the ICICI Group since 1992 and has worked in the areas of retail banking, corporate banking and treasury. During his tenure at ICICI Securities, he has led the growth and development of the retail broking, retail financial product distribution and wealth management businesses, said. Bagchi is not related to any other director of the bank, it added.

The board also took on record, the resignation of Rajiv Sabharwal, Executive Director consequent to his decision to pursue opportunities outside the ICICI Group, effective 31 January 2017. The board also took note of other incidental changes to the senior management positions across the ICICI Group.

Telecom stocks declined. Bharti Airtel (down 2.4%), Reliance Communications (down 2.3%) and Idea Cellular (down 1.67%) edged lower.

Bharti Infratel was down 0.44%. Bharti Infratel is a telecom tower arm of Bharti Airtel.

CRISIL fell 0.66% at Rs 2,331 after consolidated net profit rose 3.86% to Rs 79.84 crore on 8.22% rise in total income to Rs 404.73 crore in Q3 September 2016 over Q3 September 2015. CRISIL said that profit and profitability of research segment was adversely impacted by forex fluctuations in Q3 September 2016. The result was announced after market hours on Friday, 14 October 2016.

On the macro front, data released by the government after market hours on Friday, 14 October 2016 showed that India's trade deficit narrowed to $8.34 billion in September 2016, from $10.17 billion a year earlier. Imports declined 2.54% to $31.22 billion. Exports rose 4.62% to $22.88 billion.

In overseas stock markets, Asian stocks witnessed a mixed trend. US stocks registered small gains on Friday, 14 October 2016, as investors digested commentary from key Federal Reserve officials while parsing through strong bank earnings and US economic data.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22
Business Standard

PSU bank stocks gain

Capital Market 

A rangebound movement was witnessed as key benchmark indices hovered in positive zone in mid-morning trade. At 11:15 IST, the barometer index, the S&P was up 68.20 points or 0.25% at 27,741.80. The gains for the 50 index were lower than those for the in percentage terms. The was currently up 4.65 points or 0.05% at 8,588.05. The broad market depicted strength. There were nearly two gainers against every loser on BSE. 1,544 shares rose and 810 shares declined. A total of 138 shares were unchanged. The Mid-Cap index was currently up 0.2%, underperforming the Sensex. The Small-Cap index was currently up 0.62%, outperforming the Sensex.

Stocks of public sector banks edged higher. Among public sector banks, (up 1.52%), (up 1.55%), (up 0.97%), (up 0.89%), (up 0.55%) and Union (up 0.53%) rose.

State (SBI) rose 1.41% at Rs 255.45 after the bank said that the Executive Committee of the Central Board (ECCB) at its meeting held on 14 October 2016, approved to dilute upto 5% stake of SBI in SBI Life to a non-promoter entity. The announcement was made after market hours on Friday, 14 October 2016.

rose 0.51% after the bank said that the majority of the directors approved to raise additional Tier-I capital funds through BASEL-III compliant additional Tier-I perpetual bonds. The announcement was made after market hours on Friday, 14 October 2016. said that the majority of the directors have taken note of the contents and the recommendations of the bank in the circular note and consented to raise additional Tier-I capital funds through BASEL-III compliant additional Tier-I perpetual bonds in rupee terms domestically for an amount not exceeding Rs 2500 crore in single tranche or in tranches depending on the market conditions to maintain healthy capital to risk (weighted) assets ratio (CRAR), during the current financial year. A bond committee will be constituted to determine the structure of the issue size, tenor, coupon, timing of the issue, date of allotment, listing and other matters connected to the issue.

On 6 October 2016, the bank had proposed to circulate a note among the directors of the board of the bank in respect of raising additional funds through BASEL-III compliant additional Tier-I bonds in rupee terms.

Stocks of private sector banks declined. (down 0.08%), RBL Bank (down 0.24%), (down 0.77%) and (down 0.65%) edged lower. (up 1.7%) edged higher.

Index heavyweight was down 1.03% at Rs 1,248.50. The stock hit a high of Rs 1,270 and a low of Rs 1,247.60 so far during the day.

was up 6.04% at Rs 256.45. The bank announced after market hours on Friday, 14 October 2016 that its board of directors at a meeting held on 14 October 2016, approved the appointment of Anup Bagchi, presently Managing Director & CEO, ICICI Securities, as Executive Director of subject to regulatory approvals for a period of five years effective 1 February 2017 or the date of approval of his appointment by the Reserve (RBI), whichever is later. Anup Bagchi has been with the ICICI Group since 1992 and has worked in the areas of retail banking, corporate banking and treasury. During his tenure at ICICI Securities, he has led the growth and development of the retail broking, retail financial product distribution and wealth management businesses, said. Bagchi is not related to any other director of the bank, it added.

The board also took on record, the resignation of Rajiv Sabharwal, Executive Director consequent to his decision to pursue opportunities outside the ICICI Group, effective 31 January 2017. The board also took note of other incidental changes to the senior management positions across the ICICI Group.

Telecom stocks declined. Bharti Airtel (down 2.4%), Reliance Communications (down 2.3%) and Idea Cellular (down 1.67%) edged lower.

Bharti Infratel was down 0.44%. Bharti Infratel is a telecom tower arm of Bharti Airtel.

CRISIL fell 0.66% at Rs 2,331 after consolidated net profit rose 3.86% to Rs 79.84 crore on 8.22% rise in total income to Rs 404.73 crore in Q3 September 2016 over Q3 September 2015. CRISIL said that profit and profitability of research segment was adversely impacted by forex fluctuations in Q3 September 2016. The result was announced after market hours on Friday, 14 October 2016.

On the macro front, data released by the government after market hours on Friday, 14 October 2016 showed that India's trade deficit narrowed to $8.34 billion in September 2016, from $10.17 billion a year earlier. Imports declined 2.54% to $31.22 billion. Exports rose 4.62% to $22.88 billion.

In overseas stock markets, Asian stocks witnessed a mixed trend. US stocks registered small gains on Friday, 14 October 2016, as investors digested commentary from key Federal Reserve officials while parsing through strong bank earnings and US economic data.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

PSU bank stocks gain

A rangebound movement was witnessed as key benchmark indices hovered in positive zone in mid-morning trade. At 11:15 IST, the barometer index, the S&P BSE Sensex was up 68.20 points or 0.25% at 27,741.80. The gains for the Nifty 50 index were lower than those for the Sensex in percentage terms. The Nifty was currently up 4.65 points or 0.05% at 8,588.05. The broad market depicted strength. There were nearly two gainers against every loser on BSE. 1,544 shares rose and 810 shares declined. A total of 138 shares were unchanged. The BSE Mid-Cap index was currently up 0.2%, underperforming the Sensex. The BSE Small-Cap index was currently up 0.62%, outperforming the Sensex.

A rangebound movement was witnessed as key benchmark indices hovered in positive zone in mid-morning trade. At 11:15 IST, the barometer index, the S&P was up 68.20 points or 0.25% at 27,741.80. The gains for the 50 index were lower than those for the in percentage terms. The was currently up 4.65 points or 0.05% at 8,588.05. The broad market depicted strength. There were nearly two gainers against every loser on BSE. 1,544 shares rose and 810 shares declined. A total of 138 shares were unchanged. The Mid-Cap index was currently up 0.2%, underperforming the Sensex. The Small-Cap index was currently up 0.62%, outperforming the Sensex.

Stocks of public sector banks edged higher. Among public sector banks, (up 1.52%), (up 1.55%), (up 0.97%), (up 0.89%), (up 0.55%) and Union (up 0.53%) rose.

State (SBI) rose 1.41% at Rs 255.45 after the bank said that the Executive Committee of the Central Board (ECCB) at its meeting held on 14 October 2016, approved to dilute upto 5% stake of SBI in SBI Life to a non-promoter entity. The announcement was made after market hours on Friday, 14 October 2016.

rose 0.51% after the bank said that the majority of the directors approved to raise additional Tier-I capital funds through BASEL-III compliant additional Tier-I perpetual bonds. The announcement was made after market hours on Friday, 14 October 2016. said that the majority of the directors have taken note of the contents and the recommendations of the bank in the circular note and consented to raise additional Tier-I capital funds through BASEL-III compliant additional Tier-I perpetual bonds in rupee terms domestically for an amount not exceeding Rs 2500 crore in single tranche or in tranches depending on the market conditions to maintain healthy capital to risk (weighted) assets ratio (CRAR), during the current financial year. A bond committee will be constituted to determine the structure of the issue size, tenor, coupon, timing of the issue, date of allotment, listing and other matters connected to the issue.

On 6 October 2016, the bank had proposed to circulate a note among the directors of the board of the bank in respect of raising additional funds through BASEL-III compliant additional Tier-I bonds in rupee terms.

Stocks of private sector banks declined. (down 0.08%), RBL Bank (down 0.24%), (down 0.77%) and (down 0.65%) edged lower. (up 1.7%) edged higher.

Index heavyweight was down 1.03% at Rs 1,248.50. The stock hit a high of Rs 1,270 and a low of Rs 1,247.60 so far during the day.

was up 6.04% at Rs 256.45. The bank announced after market hours on Friday, 14 October 2016 that its board of directors at a meeting held on 14 October 2016, approved the appointment of Anup Bagchi, presently Managing Director & CEO, ICICI Securities, as Executive Director of subject to regulatory approvals for a period of five years effective 1 February 2017 or the date of approval of his appointment by the Reserve (RBI), whichever is later. Anup Bagchi has been with the ICICI Group since 1992 and has worked in the areas of retail banking, corporate banking and treasury. During his tenure at ICICI Securities, he has led the growth and development of the retail broking, retail financial product distribution and wealth management businesses, said. Bagchi is not related to any other director of the bank, it added.

The board also took on record, the resignation of Rajiv Sabharwal, Executive Director consequent to his decision to pursue opportunities outside the ICICI Group, effective 31 January 2017. The board also took note of other incidental changes to the senior management positions across the ICICI Group.

Telecom stocks declined. Bharti Airtel (down 2.4%), Reliance Communications (down 2.3%) and Idea Cellular (down 1.67%) edged lower.

Bharti Infratel was down 0.44%. Bharti Infratel is a telecom tower arm of Bharti Airtel.

CRISIL fell 0.66% at Rs 2,331 after consolidated net profit rose 3.86% to Rs 79.84 crore on 8.22% rise in total income to Rs 404.73 crore in Q3 September 2016 over Q3 September 2015. CRISIL said that profit and profitability of research segment was adversely impacted by forex fluctuations in Q3 September 2016. The result was announced after market hours on Friday, 14 October 2016.

On the macro front, data released by the government after market hours on Friday, 14 October 2016 showed that India's trade deficit narrowed to $8.34 billion in September 2016, from $10.17 billion a year earlier. Imports declined 2.54% to $31.22 billion. Exports rose 4.62% to $22.88 billion.

In overseas stock markets, Asian stocks witnessed a mixed trend. US stocks registered small gains on Friday, 14 October 2016, as investors digested commentary from key Federal Reserve officials while parsing through strong bank earnings and US economic data.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard