Why are short-term investors favoring ICICI Bank over HDFC Bank?
ICICI Bank is currently favored by short-term investors over HDFC Bank due to its strong June quarter performance, marked by healthy profit growth and resilient margins. HDFC Bank faces post-merger challenges, including a high credit-deposit ratio, impacting investor sentiment. While ICICI Bank offers better near-term earnings visibility, HDFC Bank’s long-term growth potential remains a key […]
RBI seeks to tighten norms for digital banking
“Third-party products and services, including those of promoter groups or bank group entities, shall not be displayed on banks’ digital banking channels except as specifically permitted by the Reserve Bank from time to time,” the RBI stated in its draft Digital Banking Channels Authorisation Directions, which is open for public feedback until August 11. The […]
SBI raises Rs 25,000 crore through QIP at Rs 817 a share
State Bank of India (SBI) successfully raised ₹25,000 crore through a qualified institutional placement (QIP), issuing 305.9 million shares at ₹817 apiece. The QIP, India’s largest to date, witnessed strong demand, being oversubscribed 4.5 times, with foreign investors accounting for a significant portion. LIC increased its stake in SBI, investing ₹5,000 crore in the QIP.
Anup Saha quits as Bajaj Finance MD after just 4 months
Anup Kumar Saha resigned as managing director of Bajaj Finance, a few months after his appointment, citing personal reasons. This comes as Saha is among the CEO candidates shortlisted for IndusInd Bank. Consequently, Rajeev Jain has been re-designated as vice-chairman & MD of Bajaj Finance, with his term extended until March 2028.
Why did RIL’s shares plummet despite analysts’ positive projections?
Reliance Industries’ shares experienced a decline of over 3% on Monday. This followed the release of Q1 earnings that were lower than anticipated. Investors reacted to the results and a deferred IPO plan. Despite the dip, brokerages maintain a positive outlook on the company. They foresee potential growth triggers in the near future.