The outstanding credit card base dropped to 77.99 million in August from over 80 million in July, mainly on account of the new norms of the Reserve Bank of India (RBI) that warrant the deactivation of cards that are inactive for a year. While there was a 2.8 per cent decline in net card additions on a month-on-month (MoM) basis in August, a first in many months, credit card spends slipped 3 per cent on a high base. Still, spends topped the Rs 1-trillion mark for the sixth consecutive month.
Kotak Mahindra Bank was the biggest loser in the Sensex pack, sliding 2.68 per cent, followed by Tech Mahindra, Mahindra & Mahindra, Axis Bank, Hindustan Unilever, Tata Motors, Tata Consultancy Services, Bajaj Finserv, Bajaj Finance, Nestle and Titan. In contrast, NTPC, Power Grid, Larsen & Toubro, HDFC, Reliance and HDFC Bank were the gainers.
From the 30-share Sensex pack, Adani Ports surged 6 per cent. NTPC, HDFC Bank, Bajaj Finance, Maruti and Axis Bank were among the other gainers. In contrast, Titan, State Bank of India, Asian Paints, Tata Consultancy Services, HCL Tech, Sun Pharma, IndusInd Bank and ICICI Bank were among the laggards.
Key benchmark indices Sensex and Nifty declined for the third session in a row on Friday, dropping nearly 1 per cent, dragged by heavy selling in IT, auto and energy stocks. Tariff-related uncertainties amid mixed global market trends also added to the pressure, analysts said. The 30-share BSE Sensex tanked 689.81 points or 0.83 per cent to settle at 82,500.47.
Axis Bank was the top gainer in the Sensex pack, rallying over 6 per cent, followed by HDFC, IndusInd Bank, TCS, Asian Paints, Titan, HCL Tech and ICICI Bank. On the other hand, ONGC, Bajaj Finance, NTPC, M&M and Reliance Industries were among the laggards.
>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
SBI was the top loser in the Sensex pack, shedding around 3 per cent, followed by Kotak Bank, IndusInd Bank, NTPC, ICICI Bank, Axis Bank and HDFC Bank. On the other hand, HUL, ITC, L&T, Bajaj Finserv and Tech Mahindra ended with gains.
With the revised interest rates, the one-year fixed deposit will attract an interest rate of 6.75 per cent as against the 7 per cent earlier
From the 30 Sensex pack, State Bank of India, Mahindra & Mahindra, Bharti Airtel, Titan, HDFC Bank, IndusInd Bank, Axis Bank and Bajaj Finance were the biggest laggards. JSW Steel, Tech Mahindra, Larsen & Toubro, Hindustan Unilever, HCL Technologies and Reliance Industries were among the gainers from the pack.
Banking technology start-up Zeta is the latest entrant to the unicorn club after raising $250 million in its Series C round from SoftBank Vision Fund 2. Sodexo participated as an additional minority investor in the round. Founded by serial entrepreneur and billionaire Bhavin Thurakia, the startup is now valued at $1.4 billion. It is the 14th company this year to cross the $1 billion valuation mark after Meesho, Cred, Pharmeasy, ShareChat, Moglix and others.
Puri earned a salary of Rs 7.39 crore in FY15, up 21.74% from last year
The National Stock Exchange (NSE) on Monday conducted the first round of mock electronic bidding process for implementing application supported by blocked amount (ASBA), an alternative mode of payment for initial public offerings (IPOs), proposed by capital markets regulator, Securities and Exchange Board of India (Sebi).
Public-sector banks, which are the largest employers in the banking space, have seen a drop in clerical staff over the years.
Shares of Yes Bank tanked over 15.52 per cent. Other losers in the Sensex pack included Tata Steel, Maruti, SBI, RIL, Tech Mahindra, ONGC, Vedanta, Bajaj Finance, Hero MotoCorp and TCS, falling up to 3.66 per cent.
The fall was led by banking stocks, with IndusInd Bank, Kotak Bank, Federal Bank, Axis Bank, ICICI Bank, HDFC Bank and SBI declining up to 2.36 per cent.
Among the Sensex components, Nestle, Maruti, IndusInd Bank, ICICI Bank, Hindustan Unilever, Larsen & Toubro, Tata Consultancy Services, Infosys, HDFC Bank and Axis Bank were the major laggards. Tata Steel, JSW Steel, Power Grid, Tech Mahindra and State Bank of India were among the gainers.
Bajaj Finance was the top laggard in the Sensex pack, tanking up to 8 per cent, followed by M&M, Tata Steel, Bajaj Auto, ONGC, HDFC Bank and Kotak Bank. On the other hand, TCS, Tech Mahindra, HUL, Axis Bank and ITC were the top gainers.
Axis Bank reduced its prime lending rate by 0.5 per cent to 15.25 per cent, while Bank of Rajasthan slashed it by 0.25 per cent to 9.75 per cent. The private sector banks' lowering of their benchmark rates came close on the heels of another private sector lender, HDFC, responding to the repeated monetary measures introduced by the Reserve Bank of India this year.
Banking services across the country were hit on Wednesday by the day-long strike by 10 central trade unions and 14 bank unions, but workers of largest lender SBI and a few other banks stayed off the agitation.
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.
State Bank of India was the top gainer in the Sensex pack, climbing nearly 2 per cent, followed by Tata Steel, L&T, Bajaj Finserv, Axis Bank, Bajaj Finance, M&M and ICICI Bank. NSE Nifty surged 112.15 points to 15,834.35.
Among Sensex gainers, Power Grid jumped the most by 4.16 per cent after its board approved an investment of Rs 656 crore in transmission projects. Private lenders HDFC Bank, Axis Bank, Kotak Bank, IndusInd Bank and ICICI Bank were also among lead gainers. NTPC, Nestle and Hindustan Unilever also ended the session with gains.
Investors' wealth grew by Rs 3.24 lakh crore on Thursday as the BSE Sensex jumped nearly 1 per cent after a two-day slide. The 30-share BSE Sensex jumped 490.97 points or 0.69 per cent to settle at 71,847.57. During the day, it rallied 598.19 points or 0.83 per cent to 71,954.79.
Equity benchmark Sensex tumbled over 273 points on Tuesday, tracking losses in index majors Reliance Industries, Dr Reddy's and Axis Bank amid a massive selloff in Chinese markets. Despite opening on a positive note, the 30-share BSE index turned red to end 273.51 points or 0.52 per cent lower at 52,578.76, while the broader NSE Nifty fell 78 points or 0.49 per cent to 15,746.45. Dr Reddy's was the top loser in the Sensex pack, plunging over 10 per cent, after the company reported s 36 per cent decline in consolidated net profit at Rs 380.4 crore for the quarter ended June 30, 2021, on account of higher expenses.
The central bank is engaged with other financial institutions for investment as part of the scheme to resurrect Yes Bank under RBI imposed moratorium since March 5.
Benchmark stock indices Sensex and Nifty closed with losses in a choppy trade on Thursday as investors preferred a cautious approach ahead of inflation and industrial production data to be released later in the day. Unabated foreign fund outflows also hit the investor sentiment. The 30-share BSE Sensex declined by 147.47 points or 0.25 per cent to settle at 59,958.03.
The RBI also looked into the effectiveness of systems and processes for implementation of KYC norms
'The reason is that you may not enter the branch but you want to see it near you as it establishes trust.'
HDFC Asset Management Company (HDFC AMC) reported a healthy profit after tax (PAT) of Rs 430 crore for the July-September quarter (Q2) of financial year 2023-24 (FY24). It rose 20.2 per cent year-on-year (Y-o-Y) and decreased 8.4 per cent quarter-on-quarter (Q-o-Q). This was driven by good equity returns, leading to a sequential improvement in revenue yields.
From the 30-share pack, Hindustan Unilever, Tata Motors, Axis Bank, Nestle India, Asian Paints, ITC, Reliance Industries, Mahindra & Mahindra, IndusInd Bank and State Bank of India were among the laggards. Larsen & Toubro, Tata Steel, JSW Steel, HDFC Bank, Adani Ports, Kotak Mahindra Bank, Bharti Airtel and PowerGrid were among the gainers.
From the Sensex firms, Wipro, NTPC, Sun Pharma, Mahindra & Mahindra, ITC and Reliance Industries were among the biggest laggards. IndusInd Bank, Axis Bank, Bajaj Finance, HDFC Bank, Larsen & Toubro and State Bank of India were among the major gainers.
Among the Sensex stocks, HDFC emerged as the top gainer, rising by 2.06 per cent, followed by Axis Bank, Maruti, Reliance, Power Grid and Tata Steel.
Stock investors have become richer by Rs 10.47 lakh crore in two straight days of gains in markets as benchmark Sensex jumped 2 per cent. At close on Wednesday, the market capitalisation of BSE-listed companies surged by Rs 10,47,565.48 crore to Rs 4,52,58,633.53 crore ($5.37 trillion) in two days of gains. "The feel good factor of Trump's win in the US election had a rub-off effect on world equity markets, including local indices as domestic investors resorted to value buying, especially in IT stocks, which pushed the benchmark Sensex above the 80k mark.
Major credit issuers, including the largest - HDFC Bank - have integrated their systems with the Bharat Bill Payment Systems (BBPS) for receiving credit card repayments via third-party applications.
'We have seen something do very well when the times are good but maybe not as well when the times are bad.'
ONGC was the top loser in the Sensex pack, shedding around 3 per cent, followed by Sun Pharma, PowerGrid, Axis Bank, HDFC Bank, Bharti Airtel and Kotak Bank. NSE Nifty declined 124.10 points to 14,906.05.
Benchmark equity indices Sensex and Nifty pared early gains to settle lower on Wednesday due to late selling in index major Reliance Industries, ITC and HDFC Bank even as the RBI took the first step towards a rate cut in its monetary policy review. Erasing its early gains, the 30-share BSE Sensex fell 167.71 points or 0.21 per cent to close at 81,467.1. During the day, it surged 684.4 points or 0.83 per cent to hit an intra-day high of 82,319.21.
Tata Steel was the top gainer among the Sensex constituents, surging around 6 per cent, followed by SBI, HDFC Bank, Bajaj Finance, Axis Bank, LT, Maruti, IndusInd Bank and HDFC. NSE Nifty touched a fresh intra-day high of 12,934.05.
In the Sensex pack, Yes bank emerged as the biggest loser, falling 9.13 per cent, followed by IndusInd Bank (6.6 per cent), HeroMotoCorp (6.01 per cent), Sun Pharma (4.79 per cent) and SBI (4.70 per cent).
Benchmark indices rallied on Friday with the BSE Sensex climbing over 390 points to settle above the 56,000-mark amid fresh buying by foreign funds and largely positive global market trends. Intense buying in banking and finance counters also drove the indices higher. Rising for the sixth straight session, the 30-share BSE benchmark jumped 390.28 points or 0.70 per cent to settle at 56,072.23.
