Page 38 - Axis Bank

Top headlines: States on GST compensation, Emami questions HUL & more

From states divided on alternative GST compensation, Emami questioning changing of 'Fair and Handsome' name to startups helping tenant amid Covid-19, here are the top headlines of the day

Axis Bank gets approval to raise up to Rs 15,000 cr to tide over Covid-19

In a meeting held on Thursday, the private lenders' board approved the capital raising plan through issue of equity shares/ depository receipts or any other instrument or securities

Top headlines: CBI, ED to charge GVK Group, Biden promises on H1-B & more

Here are the top headlines of the day

Axis Bank appoints LIC MD Suseel Kumar on board as non-executive member

Kumar was appointed MD of LIC in March 2019

Bajaj Finance, Axis Bank decline 5% after S&P downgrades ratings

S&P Global Ratings said that worsening operating conditions following Covid-19 have increased risks for financial institutions and banks operating in India

S&P rating action won't impact Axis Bank, Bajaj Finance much: Experts

Experts say comfortable capital levels, strong market position positive for both

S&P downgrades Axis Bank's issuer rating over risks to Indian banking

Affirming the ratings on 7 other Indian banks, the rating agency said that it expected a very high likelihood of government support underpinning its ratings on government-owned banks

Fitch revises outlook on 9 Indian banks' IDRs from stable to negative

Action follows change in outlook on India's rating

ICICI Bank, SBI: Fitch revises IDR outlook. Time to sell these stocks?

On Monday, global rating agency Fitch revised the outlook from "stable" to "negative" on the Long-Term Issuer Default Ratings (IDR) of nine Indian banks

Axis Bank's Pralay Mondal to join Fairfax-backed CSB Bank as President

Before joining Axis Bank, Mondal was the Senior Group President and Head of Retail and Business Banking at Yes Bank.

Covid-19 to accelerate India Inc's migration to safe, large banks

Share of large private banks in corporate relationships have moved from 27 per cent in 2017 to 32 per cent in 2019, according to Greenwich Associates, a Crisil group company

Pralay Mondal quits Axis Bank; stock falls 11% in intra-day trade

The stock dipped 8 per cent to Rs 360, falling 11 per cent from its opening level of Rs 405 on the BSE on Tuesday.

Foreign portfolio investors to pick up $300-million stake in YES Bank

The FPIs are in advanced talks with an Indian bank to act as a custodian.

Erroneous price feeds for F&O contracts disrupt trading on Bank Nifty

Several brokers cautioned investors and some halted trading in Bank Nifty contracts - the second-most traded index derivatives - citing irrational gap between 'buy' and 'sell' quotations.

PNB to lower rates on savings account deposits by 50 bps from July 1

Deposits of Rs 50 lakh and above will earn interest of 3.25 per cent as against 3.75 per cent currently

Indian banks start trading in non-deliverable forward mkts for first time

RBI in the past was against this market, but gave way when it was found that the offshore volume in rupee trading is actually higher than the onshore volume

Top private banks' Q4 profits nearly halve on Covid-19 provisioning

The pressure on earnings will continue, say experts

Covid-19 related provisioning knocks off 45% of top private banks' profits

Analysts at Edelweiss estimate that banks like Axis Bank, Kotak Mahindra Bank and ICICI Bank have 25-30 per cent of their loan book under the moratorium

Private equity player Bain Capital in talks to up stake in Axis Bank

In 2017, the lender had approved and conducted a sale of 9 per cent stake to raise Rs 11,626 crore, in a round led by Bain Capital.

Banking stocks see strong gains, Bank Nifty rallies 11% in three days

The gains come after huge selling pressure and consequent under-performance of banking stocks since the start of March