Among the Sensex firms, Larsen & Toubro, Tata Consultancy Services, Infosys, HCL Technologies, Hindustan Unilever, Axis Bank, ICICI Bank and Wipro were the major gainers. Nestle India, Asian Paints, JSW Steel, Kotak Mahindra Bank and HDFC Bank were among the losers.
ICICI Bank on Tuesday said it cannot be termed foreign bank and is awaiting further clarification on the circular regarding new FDI norms.
There are allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.
Among the Sensex firms, Power Grid, ITC, JSW Steel, ICICI Bank, Tech Mahindra, Infosys, IndusInd Bank and Mahindra & Mahindra were the major laggards. Sun Pharma, Reliance Industries, HCL Tech, Hindustan Unilever, Bajaj Finance and Maruti were among the gainers.
As per the latest shareholding pattern filed by Kingfisher with the stock exchanges on Wednesday, ICICI Bank held about 1.67 crore (16.7 million) shares, accounting for a 2.9 per cent stake, in the airline as on March 31, 2012.
Only investors with a higher risk appetite should enter these funds.
Benchmark equity indices Sensex and Nifty snapped two days of losses to close higher on Tuesday on the back of fag-end buying in auto, power and metal shares helped by fresh foreign fund inflows. The 30-share BSE Sensex rose by 204.16 points or 0.31 per cent to settle at 66,174.20 in a volatile trade. During the day, it hit a high of 66,256.20 and a low of 65,906.65.
ICICI Venture informed Subhiksha on January 8, 2009, about the withdrawal of its nominee directors and asked the company to make the requisite filing with the RoC, Chennai. However, when ICICI Venture did not receive any copies of the filing till January 19, it informed the RoC of the resignations.
Reliance Industries Ltd was the biggest wealth creator during the five-year period from 2018 to 2023 while Adani Enterprises Ltd was the top all-round wealth creator, according to a study by Motilal Oswal Financial Services. The study, based on stock market performance of companies, said for the fifth time in succession, Reliance emerged as the largest wealth creator, adding Rs 9,63,800 crore wealth over 2018-23. It was followed by Tata Consultancy Services (Rs 6,77,400 crore wealth addition), ICICI Bank (Rs 4,15,500 crore), Infosys (Rs 3,61,800 crore) and Bharti Airtel (Rs 2,80,800 crore).
Maximum customer complaints were received against State Bank of India, ICICI Bank and HDFC Bank during 2010-11, said banking ombudsman of New Delhi region.
As the fight for deposits intensifies, the cost of money will rise and the margin will be under further pressure, points out Tamal Bandyopadhyay.
Selling in index heavyweights, including Infosys, TCS, ICICI Bank and Reliance Industries, dragged the benchmark indices into the negative for the second straight session, analysts said. Among the Sensex shares, Asian Paints fell the most by 3.9 per cent as analysts expressed concerns over rising competition in the domestic paints market following the entry of Aditya Birla group company Grasim Industries into the paints segment. IT shares Infosys, TCS, HCL Tech, Wipro and Tech Mahindra continued to slide amid inflation concerns in the US market.
Among the Sensex firms, HCL Tech, Wipro, Tata Consultancy Services, Tech Mahindra, Nestle, Tata Motors, Infosys, Bharti Airtel, UltraTech Cement and Tata Steel were among the laggards. On the other hand, Axis Bank, HDFC Bank, ICICI Bank, JSW Steel, Mahindra & Mahindra and Kotak Mahindra Bank were the major gainers.
Small and midcap schemes may impose restrictions on redemptions, cap employee withdrawals, and increase the exit load, while ensuring a proportionate liquidation of the portfolio during market crises to safeguard the interests of all investors. These measures have been outlined in the investor protection policies recently put out by mutual fund (MF) trustees. The policies for small and midcap schemes were prepared by MF trustees following directives from the Securities and Exchange Board of India (Sebi) earlier this month.
Among the Sensex firms, Bajaj Finance, Infosys, Tech Mahindra, ICICI Bank, Nestle, Tata Consultancy Services, HDFC Bank and Reliance Industries were the major laggards. Mahindra & Mahindra, JSW Steel, NTPC, Power Grid and IndusInd Bank were among the gainers.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
India's largest private sector lender ICICI Bank is looking at possibilities of acquisitions in Britain, Canada or Germany to expand its overseas business.
The charges would apply to savings as well as salary accounts
The board also appointed K V KKamath as the non-executive chairman of ICICI Bank, a role being performed by his mentor Narayan Vaghul, who is scheduled to step down once his term ends in March. Vaghul has been with the ICICI group for 24 years.
Our partnership with ICICI Bank continues to remain strong. We have an exceptional relationship with them, says group CEO of Prudential.
The insurer is a venture between banking major ICICI Bank and the UK's Prudential Corporation Holdings. Singapore's Temasek and Premji Invest are also the shareholders.
Asserting that the reports regarding a run on ICICI Bank a few weeks ago was more of a panic reaction, Finance Minister Jaswant Singh on Tuesday gave a clean chit to the institution, describing it as a reputed and profit-making bank.
HDFC Bank's January-March quarter result, which came in-line with expectations, failed to enthuse investors. The reason? The management's decision to abstain from providing any specific growth guidance, and analysts' expectations of an arduous road to recovery. Analysts believe the path to normalisation of several growth metrics is unlikely to be a straightforward one, and the road to balance sheet realignment may be long.
Chanda Kochhar said a large section of youth, mainly underprivileged have little access to training that can increase their employability.
Since MAAFs invest across multiple asset classes, they offer diversification.
Among the Sensex firms, Wipro jumped over 6 per cent, the most among the frontline companies. HCL Technologies, Tata Motors, Maruti, Tata Steel, Infosys, Tech Mahindra, Larsen & Toubro and JSW Steel were the other major winners. State Bank of India, Bajaj Finance, ICICI Bank, HDFC Bank, Axis Bank and IndusInd Bank were among the laggards.
Although the pricing for the IPO is yet to be finalised, people in the know said the band could be Rs 275-300
A corporate lawyer said that this is the biggest failure of corporate governance in this country. He pointed out that American investors can even take the bank to court for giving false statements to stock exchanges and even file class action suits. Some even questioned how RBI overlooked Kochhar's misdeed.
Top private sector lender ICICI Bank has decided to discontinue its co-branded credit card with Kingfisher Airlines in the wake of continued grounding of the debt-laden air carrier.
Investors shunned shares of Bajaj Finance on Friday, a day after the non-banking financial company (NBFC) reported a sharp contraction in its net interest margin (NIM) for the March quarter of the financial year 2023-24 (Q4FY24). The losses accounted for a fifth of the benchmark S&P BSE Sensex's 609-point loss. Most brokerages have tamed their earnings expectations for the next couple of quarters, after the management said it expected the pressure on NIMs to continue in the near term.
Among the Sensex firms, Kotak Mahindra Bank, UltraTech Cement, Mahindra & Mahindra, Larsen & Toubro, ICICI Bank, IndusInd Bank, Wipro and Hindustan Unilever were the major laggards. Sun Pharma, Bajaj Finance, Bharti Airtel, Reliance Industries, Bajaj Finserv and Titan were among the winners.
ICICI Bank will offer shares to Japanese investors without getting listed in Japan as a part of its upcoming Rs 2,300-cror
Anti-trust body MRTPC has issued a stern warning to ICICI Bank for selling insurance policies to its credit card holders without their consent and has asked it to stop the practice.MRTPC bench headed by Justice O P Dwivedi passed a cease and desist order and held it as an unfair trade practice to promote its business.
Intercontinental Exchange, which trades in energy derivatives, is in talks to buy ICICI Bank's holding in the National Commodities and Derivative Exchange.
India's largest private lender ICICI Bank has been fined Rs 220,000 ($5,120) by Hong Kong's Securities and Futures Commission for breach of licence rules and was ordered to further reimburse investigation costs.
The revision will make corporate and consumer loans, including those for homes and auto, expensive for new borrowers.
Even as Srini Pallia, a Wipro veteran, is set to take charge as the chief executive officer (CEO) of the company, analysts expect the stock's underperformance to continue in the near-future. This, they believe, will be on the back of likely loss of market share, and difficult business environment. "We expect Wipro to underperform peers on growth once again in FY25 as channel checks and media reports suggest Wipro is losing share with select clients across multiple verticals.
The bank is offering a preferential rate on foreign currency conversion, giving special offers on housing loans and providing assistance for searching properties.
Among the Sensex firms, Axis Bank, Mahindra & Mahindra, Wipro, Tata Motors, HDFC Bank, Tech Mahindra, ICICI Bank, JSW Steel, Tata Consultancy Services, Infosys, HCL Technologies and Bharti Airtel were the major gainers. Nestle, Titan, Bajaj Finserv and UltraTech Cement were the laggards.
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