Stocks to Watch Today: ICICI Bank and Axis Bank too will be in focus as global rating agency Moody's has upgraded the two private bank's baseline credit assessments (BCA) and deposit ratings to "baa3"
Affirms Baa3 deposit ratings of both Indian private sector lenders; outlook on ratings for both banks, where applicable, remains stable
CLOSING BELL: The S&P BSE Sensex and the Nifty50 indices hit fresh 52-week lows as they spiraled 2 per cent down
According to the technical analyst from Anand Rathi, Axis Bank can rally up to Rs 670 in the next 2 - 3 trading sessions.
The banks have sued GVK Group-owned GVK Coal Developers over a dispute on a $1-billion loan and $35-million letter of credit facility and a $160-million loan
With inflation remaining at elevated levels, RBI may gradually increase the benchmark lending rate to about 5.75% by the end of this fiscal, Axis Bank chief economist Saugata Bhattacharya said
Recently, country's largest lender, State Bank of India (SBI), also increased its MCLR by 10 bps. SBI has hiked its MCLR by 20 bps in two months
From this year's peak in January, both indices are down nearly 12 per cent
Indian equity mutual funds have lured billions of dollars in inflows over the last couple of years amid a retail-investing boom
According to the technical analyst from Anand Rathi, one can accumulate Axis Bank in the range of Rs 663 - 657 with a stop at Rs 630.
'The consumer business has over the years become largely dominated by domestic players, not only in India but globally'
Tracking an extremely weak trend in equities, the market capitalisation of BSE-listed firms tumbled Rs 5,10,150.97 crore to Rs 2,54,54,738.40 crore in initial deals.
Axis Bank Q4 result review: Analysts do not expect valuation to catch up with peers in light of the NII undershoot, impending dilution to fund the Citi deal, and higher operating expenditure guidance.
Shares of Axis Bank tumbled over 5 per cent in early trade on Friday a day after the company reported a 49.77 per cent jump in its consolidated net profit for the March quarter.
Provisioning dropped to Rs 987 cr, down from Rs 2,167 cr during the same period of the previous year
Vedanta announces that it will pay Rs 117.1 billion ($1.5 billion) in dividends to shareholders. Read more on this in our top headlines for the evening.
Lender's board recommends dividend of Rs 1 per equity share for the year ended 31 March, 2022.
Axis Bank Q4 preview: Axis Bank may report around 50 per cent year-on-year (YoY) growth in net profit
Kotak Mahindra Bank, increased its one-year MCLR by 5 bps to 7.4 per cent, from April 16
The lenders want recognition as firm's financial creditors, and inclusion in CoC as part of RCap's corporate insolvency resolution proceedings. Administrator has admitted claims worth Rs 23,666 cr