Stocks to watch today: ICICI Bank, LIC, SBI, Dixon Tech, TCS, NMDC, JSW Steel, RVNL, Tata Motors, CG Power, BEML, among others, will be in focus today.
RBI has approved LIC to acquire up to 9.99 per cent of ICICI Bank's paid-up share capital or voting rights within one year, subject to regulatory conditions
Meesho's shares will remain in focus after a likely block deal to sell 1.5 per cent of Meesho's paid-up equity by SoftBank Vision Fund entity SVF II Meerkat is expected today.
The private sector lender deployed around $9 billion as loans and issued standby letters of credit worth $3.63 billion against deposits mobilised under the facility
The lender bought about 29 million shares through the stock exchange mechanism between July 22 and September 2, taking its holding in the life insurer to 52.8 per cent
The lender has also issued $3.63 billion in guarantees to other banks for loans backed by the deposits In June, the Reserve Bank of India introduced a set of foreign exchange measures
ICICI Bank's market capitalisation has risen fourfold over six years, while HDFC Bank's has doubled, narrowing the valuation gap between the two lenders
The latest issue takes the lender's dollar debt fundraising to $2.05 billion in about a month as Indian banks accelerate overseas borrowing ahead of the RBI swap window's early closure
HDFC Bank and ICICI Bank have raised FCNR(B) deposit rates as lenders compete for foreign currency inflows ahead of the RBI's September-end swap window deadline
Om Mehra, technical analyst of SAMCO Securities believes that ICICI Bank sharp price can rally to a new high; while the key support for HDFC Bank stock now stands at ₹772 on the charts.
ICICI Bank's Q1 FY27 earnings beat estimates on strong loan growth, higher fee income and lower credit costs, leading analysts to raise earnings forecasts
HDFC Bank and Axis Bank were down 5 per cent each, while Yes Bank and Kotak Mahindra Bank from the Nifty Bank index were down 4 per cent each in intra-day deals on Monday.
ICICI Bank share price jumped 2.5 per cent in early trade on Monday after better-than-expected Q1 results. Brokerages see up to 25 per cent upside for the stock.