Amidst a sharp run-up in gold and silver prices, investors are advised to rebalance their portfolios by booking partial profits in precious metals and reallocating to domestic equities and debt, according to financial experts.
India's private-sector banks are likely to lose market share for a second consecutive year in 2025-26, as their loan books continue to expand much slower than overall bank credit.
Sharma to step down as Axis Bank chief on December 31.
The Narcotics Control Bureau (NCB) has arrested a major Myanmar-based drug trafficker in Delhi, who was a key supplier of methamphetamine and heroin. The arrest follows extensive surveillance and coordinated operations targeting transnational drug trafficking networks along the India-Myanmar border.
The Narcotics Control Bureau (NCB) has arrested a major Myanmar-based drug trafficker in Delhi, who was a key supplier of methamphetamine and heroin across the India-Myanmar border. The arrest follows extensive surveillance and investigations into transnational drug trafficking networks.
It's not necessary to use only external benchmarks, there are multiple avenues to meet the requirement that the RBI wants, the bank said.
Axis Bank on Thursday reported a 54 per cent jump in its standalone net profit to Rs 4,117.77 crore for the quarter ended March 2022. The country's third-largest private sector lender had posted a net profit of Rs 2,677.06 crore in the year-ago period. The total income (standalone) rose to Rs 21,999.58 crore in the January-March period of 2021-22 against Rs 19,035.12 crore in the same period of 2020-21, Axis Bank said in a regulatory filing. For the full 2021-22, the net profit nearly doubled to Rs 13,025.48 crore from Rs 6,588.50 crore in 2020-21.
The bank had posted net profit of Rs 1,347 crore (Rs 13.47 billion) for the October-December quarter of last fiscal, 2012-13, Axis Bank said in a filing to the BSE.
Indian equity markets closed higher, driven by gains in PSU bank, auto, and financial stocks, following the US Supreme Court's decision on tariffs. Sensex climbed 479.95 points to 83,294.66, and Nifty advanced 141.75 points to 25,713.
The Reserve Bank of India's 2024 norms for the voluntary conversion of Small Finance Banks (SFBs) into universal banks, particularly the subjective 'diversified loan portfolio' criterion, are proving to be a significant hurdle, with Ujjivan SFB and Jana SFB having their applications returned.
At the moment, the base rate of the bank stands at 10 per cent.
Axis Bank's results for the fourth quarter of the 2022-23 financial year (Q4FY23) were skewed due to large one-off charges related to its acquisition of Citi's retail business. Axis reported a loss of Rs 5,730 crore on account of exceptional items of Rs 12,350 crore (net of tax) towards Citi's acquisition, policy harmonisation etc. Excluding this one-off, the adjusted net profit or profit after tax (PAT) would be Rs 6,630 crore, up 61 per cent year-on-year (YoY).
Benchmark stock indices Sensex and Nifty closed on a flat note in a choppy session on Wednesday as gains in PSU banks and auto shares were offset by losses in IT stocks.
For commercial banks to float subsidiaries, approval from the Reserve Bank of India (RBI) may not remain mandatory, according to highly placed sources.
The accounts were hacked during April and May, police said, adding that the Axis Bank had contacted Mumbai police and informed that they had set up a committee to probe the matter.
Sectoral funds, focused exclusively on public sector banks (PSBs), have delivered the strongest returns among domestic mutual fund (MF) categories over the past six months. However, active banking funds have significantly lagged because of their heavy tilt towards private lenders.
The management, however, is a bit wary about near-term performance.
Among Sensex stocks, Kotak Mahindra Bank, Bajaj Finance, Axis Bank, Power Grid, IndusInd Bank, Maruti, Bajaj Finserv and NTPC were the biggest gainers. However, Eternal, ICICI Bank, Titan, Mahindra & Mahindra, Adani Ports, Tata Steel and Bharti Airtel were among the laggards.
From the 30-Sensex firms, NTPC, Trent, Bajaj Finance, Power Grid, Maruti, State Bank of India, ICICI Bank and Bharat Electronics were among the biggest gainers. In contrast, ITC, Kotak Mahindra Bank, Titan Company, Axis Bank and Bharti Airtel were the laggards.
Tigerair has announced few free tickets for Singapore flights
Stock market is gearing up for an eventful week ahead where key triggers such as quarterly earnings from corporates, the US Fed interest rate decision and the upcoming Union Budget for 2026-27 would grab the limelight, analysts said.
Sensex and Nifty post steepest weekly loss in over a year, falling nearly 3 per cent.
The step followed Reserve Bank Governor Raghuram Rajan's hard talk.
Last week, govt sold shares worth Rs 220 crore in the open market without making a formal announcement. The deal came to light only this week.
After lying low since its foray into the credit card business two years ago, Life Insurance Corporation (LIC) of India on Monday announced a tie-up with Axis Bank to offer co-branded credit cards to its policyholders and employees.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
From the 30-Sensex firms, Bajaj Finance, Asian Paints, HCL Tech, Tata Consultancy Services, Eternal and Sun Pharma were among the biggest laggards. However, Titan, NTPC, Axis Bank, UltraTech Cement, Reliance Industries and Hindustan Unilever were the gainers.
The Indian IPO market is experiencing a significant surge in preliminary filings, with 38 companies submitting papers to SEBI in March 2026, driven by a combination of improved issuer confidence, strategic regulatory compliance, and private equity investors seeking exits amidst volatile market conditions.
Private sector lender Axis Bank has launched a home loan product for households earning as low as Rs 8,000 a month, targeting disbursals of up to Rs 1,000 crore (Rs 10 billion) in a year's time, a senior bank official said.
Under Sharma Axis Bank has also taken the lead in focusing on technology, which has now become core to almost every other lender's strategy.
Heightened geopolitical uncertainties will lead the Reserve Bank's rate-setting panel to opt for a status quo at the next week's meeting, Axis Bank's chief economist Saugata Bhattacharya said on Monday. Bhattacharya said he had earlier expected a tightening action at the policy meet scheduled for April 6-8 but the increased uncertainties on the geopolitical front due to the Russian invasion of Ukraine and its impact on commodity prices makes him now think that RBI will defer such an action. He said the central bank's Monetary Policy Committee (MPC) may hike rates in the second half of FY23 by up to 0.50 per cent.
Total income of the bank during January-March 2018 stood at Rs 14,559.85 crore, slightly up from Rs 14,181.31 crore earned in the same period of 2016-17.
Among Sensex firms, Infosys, Bharti Airtel, Adani Ports, Sun Pharma, Tech Mahindra, Eternal, Axis Bank and Maruti were the major laggards. However, ITC, UltraTech Cement, Tata Steel and HDFC Bank were among the gainers.
Among Sensex firms, Power Grid, Eternal, Bharti Airtel, Axis Bank and Infosys were the biggest laggards. However, Mahindra & Mahindra, Sun Pharma, Kotak Mahindra Bank and State Bank of India were among the major gainers.
The pickup was driven partly by fresh corporate investment but more by higher working-capital demand.
From the Sensex firms, Reliance Industries climbed 3.52 per cent after the firm on Friday reported a 9.6 per cent year-on-year rise in net profit for the September quarter, driven by strong performance in its consumer-facing retail and telecom businesses and a recovery in its core oil-to-chemicals segment. Bajaj Finserv, Axis Bank, State Bank of India, Tata Consultancy Services, Titan and Bharti Airtel were also among the gainers. However, ICICI Bank, Mahindra & Mahindra, Eternal, Adani Ports and Power Grid were among the laggards.
A day after its bigger rival ICICI Bank cut its lending rate, the third-largest private lender, Axis Bank, on Friday lowered its base rate by 0.10 per cent to 9.85 per cent, effective June 30.
Public sector banks' (PSBs') employee count grew for the first time in five years while private sector banks' staff strength saw a decline in 2024-25 (FY25), according to latest data released by the Reserve Bank of India (RBI). The employee count of state-owned lenders rose 0.22 per cent year-on-year (Y-o-Y) to 757,641 at the end of March 31, 2025 from 756,015 in FY24.
India's handling of the Iran crisis reflects a growing strain between strategic autonomy and geopolitical alignment, observes Ambassador M K Bhadrakumar.
All three Bharti group companies outperformed in CY25 but the biggest gain came from Bharti Airtel, the flagship.
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