Markets may open flat; Bharti Airtel, HDFC Bank in focus
Posted on 25th November 2014 |
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Benchmark indices may open on a flat note tracking the mixed trends in their Asian peers. However, markets are likely to rebound later in the session and edge higher on firm global cues. At 8:20AM, the early indicator SGX Nifty was up 5 points at 8,540. |
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ICICI Bank joins Rs 2 lakh crore m-cap club
Posted on 24th November 2014 |
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Banking stocks continue to rally on the bourses, with the market value of the ICICI Bank, crossing the Rs two lakh crore mark. The private sector lender has become the third bank and ninth company in current list of companies having m-cap of over Rs 200,000 crore. ICICI Bank scrip up 1.9% to Rs 1,766 on BSE, taking its market value to Rs 2,04,395 crore at 1121 hours, the BSE data shows. The bank is at the ninth positions in overall market capitalization (m-cap) ranking. |
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SBI reclaims most-valued bank status
Posted on 21st November 2014 |
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State Bank of India (SBI) today reclaimed its position as the country's most valued bank with a total market valuation of over Rs 2.25 lakh crore, surpassing private sector player HDFC Bank. At 1008 hours, shares of SBI gained 2.2% to Rs 304 on BSE, taking its market value to Rs 226,734 crore, making it the overall sixth most valued company. |
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Pre-market: CIL, FTIL, Tech Mahindra, financials in focus
Posted on 21st November 2014 |
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Benchmark indices are likely to open lower tracking the weakness in select Asian markets which remain subdued despite sharp overnight gains on Wall Street. At 8:35AM, the early indicator SGX Nifty was down 3 points at 8,420. |
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Sensex, Nifty trading flat; Tata Motors, GAIL top losers
Posted on 19th November 2014 |
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Benchmark indices are trading in a tight range with Sensex and Nifty swinging between negative and positive zone. After touching record highs in the opening trades, markets slipped on account of profit booking at higher levels. By 10:25, the Sensex was lower by 3 points at 28,160 mark whereas the Nifty dipped 8 points at 8,418 levels. |
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Nifty facing resistance above 8,450; HDFC down 1%
Posted on 18th November 2014 |
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Benchmark share indices remained rangebound after the first hour of trade as gains in Bharti Airtel and index heavweight Reliance Industries helped offset losses in IT majors and HDFC. At 10:45AM, the 30-share Sensex was up 64 points at 28,242 and the 50-share Nifty was up 12 points at 8,443. |
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Sensex trades 35 points lower; HDFC Bank falls
Posted on 17th November 2014 |
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Mumbai: India’s benchmark 30-share Sensex index was trading 35 points lower on Monday morning, led by losses in IT and banking shares. At 9.40am, the BSE Sensex was down 0.13%, or 37.81 points, at 28,008.85 points, while the National Stock Exchange’s broader barometer 50-share Nifty was trading down 0.22%, or 18.15 points, at 8,371.75 points. |
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BSE, NSE eye setting up small banks
Posted on 17th November 2014 |
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NEW DELHI: Bombay Stock Exchange and the National Stock Exchange are looking to set up small banks in the country once the Reserve Bank of India opens the window for applications. The move will help the two exchanges, which have cash transactions running into thousands of crores, manage some of the funds, but will come as bad news for the existing players, such as HDFC Bank, which manage this amount and benefit by way of low cost of funds. |
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SBI to improve ATM services
Posted on 15th November 2014 |
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Having started to charge customers for excess usage of automated teller machines (ATM), the country largest lender State Bank of India (SBI) has decided to improve its services and appoint a single vendor for maintenance of its ATMs. Recently, the Reserve Bank of India (RBI) allowed banks to charge their customers after the first five free transactions, starting from November 1. |
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FIPB clears HDFC Bank's proposal to hike foreign holding to 74%
Posted on 15th November 2014 |
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HDFC Bank will not be able to raise much money by way of foreign investment even as the Foreign Investment Promotion Board (FIPB) on Friday regularised its current overseas investment structure. That is because the board turned down the bank’s plea to not treat the promoter stake as foreign investment. Besides, the bank will also have to deposit a penalty as it was in the breach of FDI guidelines. The FIPB is of the view that HDFC Bank’ parent HDFC Ltd’s 22.50 per cent holding in the bank is foreign investment and, hence, the total foreign holding in the bank stands at 73.20 per cent, which includes FII, FDI, ADR and GDR, according to an official. |
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