The country's largest lender SBI on Thursday reported a 4.20 per cent decline in consolidated December quarter net at Rs 6,257.55 crore, largely because of a higher base in the year-ago period where it had benefitted from a Rs 4,500 crore one-off income. On a standalone basis, the city-headquartered lender's net profit came in at Rs 5,196.22 crore as against Rs 5,583.36 crore in the year-ago period and Rs 4,574.16 crore in the preceding September quarter. SBI chairman Dinesh Kumar Khara told reporters that the year-ago period had seen the resolution of the Essar Steel loans, resulting in an over Rs 4,000 crore interest income and Rs 500 crore other income benefit.
'It's a clear case of political patronage helping an individual grow.'
When looking at fund returns, avoid looking at just the past 12 months' performance, says Sanjay Kumar Singh
As the clean-up has taken hold, loan growth slipped to 10.7 per cent in the last fiscal
All shares held by SBI in the five associate banks will stand cancelled after merger.
'Returns can be very variable in equity markets.' 'That is why I tell small investors don't put 100 per cent of your money in equities, even if you are young.'
The number of ultra rich falls to 2.56 lakh in 2018 from 2.63 lakh. As much as Rs 262 lakh crore of the wealth possessed by the high networth individuals are in the form of financial assets, while the rest are parked in physical assets.
In the past, the House has passed a number of resolutions urging the Central government to transfer Chandigarh to Punjab, Mann said.
Power generation and distribution is the most indebted sector
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
'India has formed tremendous resilience and still a strong growth.'
With the international markets facing uncertainty after Russia invaded Ukraine and Western nations retaliated with sanctions, Indian companies are putting their international fundraising plans on hold as they wait for the markets to recover. Bankers said apart from the geopolitical crisis, international rates are hardening in anticipation of interest rate hikes by the US Federal Reserve to control rising prices in the US. The Ukraine situation has implications for the market. In such a situation, international investors try to shift to safe haven assets by exiting from emerging markets.
The country's largest private sector lender HDFC Bank on Saturday reported a 23 per cent jump in standalone net profit to Rs 10,055.20 crore for the March quarter, led by growth in loan demand across categories and lower provisioning as bad loans were trimmed. The bank's net profit during the corresponding period of the previous fiscal stood at Rs 8,186.51 crore. "After providing Rs 2,989.5 crore for taxation, the bank earned a net profit of Rs 10,055.20 crore, an increase of 22.8 per cent over the quarter ended March 31, 2021," HDFC Bank said in a regulatory filing.
'India has many attractive features for the long-term investor; it combines: A low per capita income, a young population, and a heavier presence of high margin, asset-light firms in the technology sector.'
In its EoI document, the bank had said it was open to converting into a small finance bank.
Banks are in the process of getting a board-approved restructuring framework in line with the RBI's framework and eligibility defined by the central bank.
Investors must, however, be prepared for volatility in ELSS, cautions Sanjay Kumar Singh.
The branch managers have come out of their glass cabins and the sellers' market has transformed into a buyers' market, but there is no end to the harassment of customers, asserts Tamal Bandyopadhyay.
Industry players say improving the penetration beyond the top centres will require setting up more branch networks and empanelment of distributors.
'We would advise investors to invest in a disciplined way in equities for the long term.'
Joy Thomas stated that one large account -- HDIL -- was the sole reason for the present crisis that led to the regulatory action on Tuesday when Reserve Bank of India superseded its management and placed it under an administrator for the next six months.
In his first comments after resigning as RBI governor on December 10 last year amid sharp differences with the government, Patel said banks indulged in over-lending, while the government did not "fully play" its role, and also conceded that the regulator should have acted earlier.
'In investing, you have to first make sure you don't make big mistakes.' 'I would advise small investors to be systematic, don't be arbitrary; don't be on either end of the risk spectrum.' 'Don't go from fixed deposit to option trading or crypto trading.'
ETFs may be an option if you are considering only large-cap funds, experts tell Tinesh Bhasin.
Sebi pointed out instances of misleading the investors by reporting incorrect data on investor complaints, instances of inappropriate utilisation of funds meant for investor education, such as spending on programmes meant for financial advisors, charging of expenses to the said funds for stationery items such as notebooks, planners and calendars, and charging of expenses without adequate records.
'Surplus money in individuals' pockets has moved away from real estate and flowed into the stock market either directly or through mutual funds.' 'This being one reason for the continuing surge in stock prices.' 'Market indices have soared to levels that are well above historical averages for price-earnings ratios.' 'Market pundits insist that this is not a stock price bubble, but when was the last time the pundits called a bubble a bubble?'
This is part of an 'aggressive and decisive set of action' to shore up the company.
Even if the bull run may continue, most experts say some profit booking is called for, points out Sanjay Kumar Singh.
Follow these and the your chances of earning higher returns will improve...
With so many equity funds available, how does one go about selecting the right one? Here are some simple tips...
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
Treat silver as part of the procyclical or growth assets in your portfolio, advises Sanjay Kumar Singh.
The growth premium India enjoyed has largely been lost.
Private lender Tamilnad Mercantile Bank's (TMB) is planning an Initial Public Offering ( IPO) of about Rs 1,000 crore by November-December 2021. The IPO will involve combination of fresh capital plus sale of existing shares. The shareholders of the unlisted South-based private bank have already given nod for IPO.
Number of stocks trading above 50 times and 100 times earnings are at record highs. When this happened in 2015 and 2016, the Sensex fell 22.6 per cent in a little over a year's time after peaking in January 2015, while it fell by 11.3 per cent in two months from its peak in September 2016.
Concerned over inflationary pressures in the economy, the Reserve Bank of India (RBI) is bringing down surplus liquidity in the system rapidly. It has fallen to pre-Covid levels and almost 2 per cent of banks' net demand and time liabilities (NDTL). NDTL shows the difference between the sum of demand and time liabilities (deposits) of a bank (with the public or the other bank) and the deposits in the form of assets held by the other bank.
Have conviction in your bets and use stop-loss as a defence mechanism to curtail losses.
Stocks offering attractive dividends contain downside better when the markets correct, advises Sarbajeet K Sen.
Irrational behaviour, born out of incomplete understanding, biases, overconfidence, fear or greed, has led investors to make less than half of what they could have in the capital markets, says Erik Hon.
You will come across many a hurdle while purchasing a used car. That, however, cannot keep you away from realising your dream.
