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[hfe_template id='11223'] [ad_1] Provisioning for bad loans by banks fell in the September quarter for the second consecutive period based on year-on-year comparison driven by the public sector banks (PSBs). For a sample of 29 publicly listed banks, provisioning for nonperforming assets (NPA) fell by 2.9% to ₹27,318.2 crore. For PSBs, it fell by 11.6% to ₹14,628.3 crore with half of them reporting a year-on-year drop in loan loss provisioning. PSBs, including Punjab National Bank, Central Bank of India and Indian Overseas Bank, recorded a 82-93% fall in the NPA provisioning. On the other hand, private sector banks showed 12.5% increase in NPA provisioning for the quarter to ₹12,690 crore, led by select banks including ICICI Bank, Axis bank, Kotak Bank, IDBI Bank and Federal bank. Three out of every four private sector banks reported a year-on-year increase in their NPA provisioning. As a result, their share in the quarterly NPA provisioning increased to 46.5% from 41.2% ...

[hfe_template id='11223'] [ad_1] The Budget week has not sparked any significant excitement in the market as the government measures were both populist and prudent. The increase in short- and long-term capital gains taxes added to the volatility. During the week, as many as 132 smallcap stocks delivered double digit weekly returns with eight of them offering over 25% returns. Antony Waste Handling Cell was the top gainer in the smallcap pack with 49.4% return, followed by MTNL (40%), Bhagiradha Chemicals and Industries (35.4%), and PC Jewellers (27.5%). About 12 stocks including Indian Hume Pipe, GHCL Textile, Thyrocare Technologies, Associated Alcohols, Associated Alcohols, RSWM, Ambika Cotton Mills, IFCI among others have offered returns between 20-25% during the week. In the midcap segment, five stocks including IDBI Bank, Indian Hotels, Hindustan Petroleum Corp, among others have risen in double digits. While IDBI Bank has gained 17.21%, Indian Hotels and Hindustan P...

[hfe_template id='11223'] [ad_1] Shares of IDBI Bank rose 7% to Rs 94 in Thursday's trade on BSE after the Reserve Bank of India (RBI) has reportedly given its 'fit and proper' approval on bidders for the Bank ahead of the Union Budget 2024. IDBI Bank has been up for privatisation for several years, and the govt had been awaiting an RBI’s assessment on bidders meeting the “fit and proper” norms — or are compliant with regulations and are not under the scanner of other regulators — to move to the next stage of the process. The central bank has given its report on all but one bidder which happens to be a foreign participant, which did not share information and the overseas regulator too has not provided data, ToI on Thursday reported. With the current market cap nearing Rs 95,000 crore, the Centre could potentially realize around Rs 29,000 crore from the disinvestment. However, several observers have noted that the transaction terms are not very attractive. The...