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[hfe_template id='11223'] [ad_1] Indian benchmark equity indices, Sensex and Nifty50, opened with fresh record highs on Monday, led by index heavyweight Reliance Industries and banking stocks. The BSE Sensex was trading 321 points, or 0.42%, higher at 77,014. The Nifty50 was up 110 points, or 0.47%, trading at 23,400 around 9:19 am. This is the first time that Sensex has hit the 77,000 mark. Reliance Industries, Axis Bank, Power Grid, SBI, and Kotak Mahindra Bank emerged as the leading contributors to the Sensex's gains in early trade. However, Infosys, TCS, HCL Tech, and Tech Mahindra exerted downward pressure on the index. Barring Nifty IT, all sectoral indices opened higher. Nifty IT fell 0.9% in early trade after strong U.S. monthly jobs data fanned worries of delayed rate cuts by the Federal Reserve. IDBI Bank witnessed a notable surge of 5.5% after receiving an income tax order that determined a refund of Rs 2,702 crore for the assessment year 2016-17. On the o...

[hfe_template id='11223'] [ad_1] In a highly volatile week gone by in which Nifty ended with 2.2% or 490 points gain in four sessions, a lifetime high of 23,000 was scaled by the 50-stock index. The week was laden with top action where over three dozen companies from large, mid and smallcap segments witnessed prominent block deals worth Rs 13,059 crore on screen, which included both buying and selling. In the largecap segment, 15 companies witnessed significant block deals on the screen, which were worth Rs 5,671 crore led by Adani Ports & Special Economic Zone (APSEZ) with 10 block counts, totalling to Rs 1,380 crore. The next in line were HDFC Bank (Rs 663 crore), IndusInd Bank (Rs 632 crore), Kotak Mahindra Bank (572 crore), GAIL India (Rs 312 crore), Mahindra & Mahindra (M&M, Rs 283 crore), Sun Pharmaceuticals (Rs 281 crore) and Hindustan Aeronautics (HAL, Rs 196 crore). Others were InterGlobe Aviation (IndiGo), Hindalco Industries, HCL Technologies, Apol...

[hfe_template id='11223'] [ad_1] May 03, 2024, 11:21:48 AM IST A Foreign Institutional Investor (FII) is a person or company that invests in a country other than the one where it is registered or has its headquarters. According to StockEdge data, here's a list of 10 largecap stocks from the Nifty200 index wherein FIIs decreased their stake in Q4: IANS HDFC Bank saw a 4.5% drop in foreign institutional investors' shareholding in Q4 FY24. The FIIs' stake declined to 47.83% in Q4 FY24 from 52.31% in Q3 FY24. ETMarkets.com The FIIs' shareholding in ITC declined by 2.3% in the March quarter of 2024. The FIIs' shareholding fell to 40.95% in Q4 FY24 from 43.26% in Q3 FY24. Agencies FIIs' shareholding in IndusInd Bank dropped by 2.2% in the March quarter of 2024. The FIIs' shareholding fell to 40.25% in Q4 FY24 from 42.47% in Q3 FY24. Agencies 5 / 11 ​Kotak Mahindra Bank Kotak Mahindra Bank saw a 2.1% fall in foreign institutional investors' share...

[hfe_template id='11223'] [ad_1] Mumbai: Shares of Kotak Mahindra Bank fell almost 3% on Thursday, as traders mounted bearish bets on the stock after the lender said joint managing director KVS Manian has resigned. The stock ended at ₹1,578, the lowest closing in three-and-a-half years, extending its recent slide after regulatory action against the private bank. Analysts said the adverse news flow in the last couple of weeks has limited the chances of upside in the stock for now. "The news of the exit is negative for the bank since there have been multiple exits at the senior level in the past 6-8 months," said Dnyanada Vaidya, research analyst, BFSI, Axis Securities. "These exits alongside considering this is after the RBI ban on onboarding new customers digitally are expected to impact the bank's growth prospects and profitability." Kotak Bank shares fell as much as 4.4% during Thursday's trading to ₹1,552.4 before recovering partially. On t...

[hfe_template id='11223'] [ad_1] On a sequential basis, HDFC Bank, ICICI Bank, and Axis Bank reported a faster growth in deposits for the March quarter compared with the credit growth while IndusInd Bank and Yes Bank showed marginally lower growth in deposits than advances. Synopsis While these lenders were able to increase deposits at a faster clip during the quarter, the growth was accompanied by higher interest outgo, thereby contracting net interest margins (NIMs) year-on-year. The sample includes HDFC Bank, ICICI Bank, Axis Bank, IndusInd Bank and Yes Bank. Kotak Mahindra Bank is expected to declare quarterly numbers on May 4. ET Intelligence Group: The deposit growth of banks has resumed after falling behind the growth in advances over the previous few quarters, showed an analysis of the March 2024 quarter results of top private sector banks.While these lenders were able to increase deposits at a faster clip during the quarter, the growth was accompanied by higher ...

[hfe_template id='11223'] [ad_1] Amid high volatility, the headline index Nifty ended with 1.3% gains on the weak-on-weak basis. It was laden with top action where over three dozen companies from large, mid and smallcap segments witnessed prominent block deals worth Rs 12,045 crore on screen which included both buying and selling action. In the large cap segment, 15 companies witnessed significant block deals on the screen which were worth Rs 6,046 crore led by Kotak Mahindra Bank with 29 block counts, totalling to Rs 1,310 crore. The next in line were Adani Ports and Special Economic Zone (Rs 1,114 crore), Bank of Baroda (Rs 853 crore), NTPC (448 crore), Canara Bank (Rs 422 crore), HDFC Bank (L&T, Rs 298 crore), Hindustan Unilever (HUL, Rs 239 crore) and Mahindra & Mahindra (M&M, Rs 200 crore). Others were, namely Reliance Industries (RIL), Tech Mahindra, United Spirits, Cipla, Bajaj Finance, Axis Bank and Havells India with block deals between Rs 190 crore ...

[hfe_template id='11223'] [ad_1] Mumbai: Shares of Kotak Mahindra Bank slumped nearly 11% Thursday after the central bank imposed a ban on the lender from issuing credit cards and onboarding new customers through mobile banking and online banking due to supervisory concerns in the bank's IT systems. This is the single largest fall in the stock since March 2020 and it led to a wipe out of ₹39,322 crore from the total market cap of the stock. "The digital acquisition of customers will be adversely impacted but the reputational impact is surprising since Kotak is considered to be a conservative bank with good processes and systems in place," said Kaitav Shah, banking analyst, Anand Rathi Brokerage. Shah said that it typically takes 6-12 months to emerge from a regulatory action depending on the severity and HDFC Bank also took more than 6 months to get permission from the central bank to restart the credit cards piece. "The perception of Kotak Bank has ta...

[hfe_template id='11223'] [ad_1] Despite enjoying a higher valuation premium on risk management and overall governance practices, Kotak Mahindra Bank has now lost its status as the fourth largest banking stock on Dalal Street to rival Axis Bank in market value terms. While Axis Bank shares were trading 4% higher on better-than-expected Q4 results, those of Kotak were trading 10% lower following a ban by RBI on digital sourcing of customers and issuance of fresh credit cards. As a result, Kotak's market capitalisation fell to Rs 3.3 lakh crore while that of Axis Bank was higher at Rs 3.4 lakh crore. In Dalal Street's pecking order, HDFC Bank remains India's most-valued bank at about Rs 11.5 lakh crore, followed by ICICI Bank at Rs 7.76 lakh crore and SBI at Rs 7 lakh crore. Kotak and Axis have often been pitched against each other. In terms of market value, both private lenders were at similar levels of Rs 1.5 lakh crore in 2015. Gradually, a sharp rally in Ko...