Kotak says no comments to offer; IndusInd CEO says promoters have denied the deal
With a successful run above the 200-day moving average (DMA), the Nifty Bank is set to climb higher levels. However, once cannot rule out intermittent corrections
Among the private banking names, IndusInd Bank has been trading in a congestion zone and its chart pattern is showing the potential of a breakout in near future
All that happened in the markets today
The stock was the top gainer on the Sensex, Nifty50, and Nifty Bank indexes.
Trading below its book value (0.9x its FY22 estimated earnings), analysts at Nomura, UBS, and CLSA are positive, primarily for its beaten-down valuation.
In the past one week, Nifty Bank index has slipped 6 per cent as against 3.3 per cent fall in the Nifty50 index
Banks say they themselves red-flagged the transactions to RBI, authorities
Like major banks - State Bank of India, Axis Bank, and IndusInd Bank, top auto brands such as Maruti Suzuki, Bajaj Auto, and Hero MotoCorp have suffered significant losses
Shahaney laid the strong foundation in manufacturing, engineering and technology for the company
Route One Fund I, LP has received 71,59,788 shares (Rs 375 crore) and Tata Investment Corporation Ltd has been allotted 57,25,190 equity shares (for Rs 300 crore) of the bank
One needs to build a separate trading model to identify retracement and reversal
The investment legroom for FPIs in HDFC Bank, Kotak Mahindra Bank, and IndusInd Bank has reduced, according to index provider FTSE, which has dropped these stocks from some of its indices
Hopes of improvement in asset quality, better credit growth and lower valuations are supporting factors
From its recent low of Rs 338.2 (on closing basis), hit on May 22, 2020, the stock price of the lender has surged 68 per cent on the BSE till Wednesday
Nifty's momentum indicators and oscillators on the weekly scales are still in 'buy' mode
The bank invoked pledge on 56,83,320 shares forming 7.82 per cent of paid-up equity share capital of Eveready Industries
All that happened in the markets today
The lender's Board approved to raise capital, via preferential issue, of up to Rs 3,288 crore.
The lender's net interest income rose 16.4 per cent year on year to Rs 3,309 crore