From the 30-share blue-chip pack, Adani Ports, UltraTech Cement, Larsen & Toubro, Sun Pharma, HDFC Bank, ICICI Bank, NTPC and State Bank of India were the major laggards. Tata Consultancy Services, Reliance Industries, ITC, Asian Paints, HCL Tech and Maruti were among the gainers.
Among the Sensex firms, IndusInd Bank was the biggest loser and fell 6.13 per cent, followed by SBI (3.99 pc), Hindustan Unilever (3.82 pc), Axis Bank (3.41 pc) and HDFC Bank (3.23 pc). In contrast, Sun Pharma, Bharti Airtel, ICICI Bank and PowerGrid defied the trend and closed with gains of up to 3.67 per cent. TCS and Bajaj Finserve were the other gainers.
From the 30-share Sensex pack, NTPC, Asian Paints, HDFC Bank, State Bank of India, Tata Motors, JSW Steel, Maruti and Power Grid were among the major laggards. On the other hand, Sun Pharma, Infosys and ICICI Bank were the gainers.
As part of its rural initiative, ICICI Bank is developing a low cost ATM to cater to the villages in India.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
'It's advisable not to go overboard on a banking sector fund or any other sector fund.'
From the 30-share Sensex pack, Tata Consultancy Services, Titan, Infosys, Bharti Airtel, Bajaj Finance, ICICI Bank, HCL Technologies, and Tech Mahindra were the biggest gainers. NTPC and Asian Paints were the laggards.
From the Sensex pack, Tata Consultancy Services, Mahindra & Mahindra, ICICI Bank, Maruti Suzuki India, Power Grid, Axis Bank and Adani Ports & Special Economic Zones were among the laggards. On the other hand, HCL Technologies, Tech Mahindra, JSW Steel, Hindustan Unilever, Infosys and Titan were among the gainers.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Dalal Street investors were a poorer lot on Monday as their wealth eroded sharply by Rs 14 lakh crore following a sharp decline in benchmark indices amid a global market meltdown due to recession fears. The 30-share BSE Sensex tumbled 2,226.79 points or 2.95 per cent to settle at 73,137.90. Intra-day, the benchmark slumped 3,939.68 points or 5.22 per cent to 71,425.01.
All Sensex shares, except for Hindustan Unilever, ended with losses. Tata Steel fell the most by 7.33 per cent followed by Larsen & Toubro which cracked 5.78 per cent. Tata Motors, Kotak Mahindra Bank, Mahindra & Mahindra, Infosys, Axis Bank, ICICI Bank, HCL Technologies and HDFC Bank were the other big laggards. Hindustan Unilever ended marginally higher.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Banking industry sources said the move by the lender is pre-emptive to protect its interest.
From the 30 Sensex pack, Mahindra & Mahindra, State Bank of India, Power Grid, Tata Steel, IndusInd Bank, Tata Motors, Larsen & Toubro, NTPC, Bajaj Finance and Reliance were among the biggest laggards.
Total income declined to Rs 14,176.84 crore (Rs 141.76 billion) during the October-December quarter, from Rs 16,922.73 crore (Rs 169.22 billion) in the year- ago period, ICICI Bank said in a filing to the Bombay Stock Exchange.
The arrest of ICICI Bank's former Managing Director and Chief Executive Officer (CEO) Chanda Kochhar and her husband Deepak Kochhar by the Central Bureau of Investigation (CBI) in a loan fraud case was "without application of mind and due regard to the law", amounting to an "abuse of power", the Bombay high court has said. A division bench of Justices Anuja Prabhudessai and N R Borkar had on February 6 held the Kochhars' arrest as illegal and confirmed a January 2023 interim order passed by another bench granting them bail. In the order made available on Monday, the court said the CBI has been unable to demonstrate the existence of circumstances or supportive material based on which the decision to arrest was taken.
The Reserve Bank of India has said its inspection of ICICI Bank and its UK subsidiary has not revealed anything to cause alarm.
In a rating watch statement, ICRA said that it has re-affirmed the LAAA rating with a stable outlook on ICICI Bank's subordinated debt programme and long-term bonds programme, which indicate highest credit quality and lowest credit risk for the two instruments. Besides, the ratings for the debts taken over by ICICI Bank from the erstwhile ICICI Limited have also been retained at LAAA with stable outlook and MAAA, respectively.
New investors should avoid short-term, tactical entries and instead go for staggered buying via ETFs to manage volatility.
During the day, it tanked 634.38 points or 0.78 per cent to 80,050.07. The NSE Nifty declined 137.15 points or 0.56 per cent to 24,198.85. "The near-term market construct has turned weak, with FIIs turning sellers on rallies.
Car loans from ICICI Bank, the country's largest private sector lender, would be 50-75 basis points (bps) cheaper, while those from IDBI Bank would cost 100 bps less.
Prudential has two JVs with ICICI Bank in the country, one in insurance business with 26 per cent stake and another in the mutual fund business with 49 per cent equity. While asserting that the two businesses were well-capitalised and did not need any immediate capital infusion, Tucker said Prudential was open to consider raising its stake in the insurance JV as and when the regulatory framework permitted the same.
The equity benchmark indices posted their strongest weekly gains in years, driven by bargain hunting and optimism over a reversal in foreign portfolio investor (FPI) outflows. The Sensex rose 558 points, or 0.7 per cent, on Friday to close at 76,906, while the Nifty 50 gained 160 points to end at 23,350. Over the past five sessions, both indices advanced around 4.3 per cent - marking the Sensex's best weekly performance since July 22, 2022, and the Nifty 50's strongest rally since February 5, 2021.
ICICI Bank on Tuesday introduced cash withdrawal facility at point of sale (PoS) terminals at merchant outlets.
The country's largest private sector lender, ICICI Bank, today said credit offtake will pick from July putting pressure on lending rates.
ICICI Pru's IPO is being managed by 10 investment banks, including Bank of America Merrill Lynch and ICICI Securities
The securities -- Pass Through Certificates, backed by the new and used car receivables, originated from ICICI Bank and have been issued by Indian Retail ABS Trust under the bank's securitisation programme. Credit rating agency Crisil has assigned the high investment grade rating to these securities. The bank would assign the pool to the trust and will receive a purchase consideration equal to the pool's principal outstanding.
The ICICI bank accused him of spending money to the tune of Rs 1.19 lakh by using platinum credit card but Kumar denied the allegations, saying that he had never received the said card.
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.
Equity benchmark Nifty scaled the psychological milestone of 21,000 in afternoon trade on Friday, and the Sensex touched its all-time intraday high of 69,888.33 after the central bank's decision to keep policy rates unchanged in line with market expectations. The 50-share benchmark index opened on a bullish note, after taking a breather on Thursday, and rose to 21,006.10. As many as 25 stocks were trading in the green, and 24 stocks defied the broader market and were trading in the negative territory.
From the 30-share Sensex pack, Mahindra & Mahindra, Larsen & Toubro, State Bank of India, Reliance Industries, ICICI Bank and Bajaj Finance were the biggest gainers. JSW Steel and Infosys were the laggards.
Investors' wealth on Monday surged Rs 4.21 lakh crore as markets bounced back after five days of fall. The BSE Sensex jumped 602.75 points or 0.76 per cent to settle at 80,005.04. During the day, it surged 1,137.52 points or 1.43 per cent to 80,539.81.
Srei Infra Finance group chief financial officer Sanjeev K Sancheti described the asset as a good buy as it is a fully secured debt.
ICICI Bank, Tata Motors, Tata Steel, NTPC, JSW Steel, State Bank of India and Adani Ports were the other big gainers. Asian Paints, Nestle, Tech Mahindra, HCL Technologies, Hindustan Unilever, Infosys and ITC were the other big 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.
Wipro was the biggest loser in the Sensex pack, slipping nearly 2 per cent, followed by IndusInd Bank, State Bank of India, Kotak Mahindra Bank, ICICI Bank, HDFC Bank, Infosys, Tata Consultancy Services, HDFC and Bajaj Finserv. On the other hand, Nestle, Mahindra & Mahindra, ITC, HCL Technologies, Asian Paints and Maruti were among the gainers.
HDFC Bank managing director Aditya Puri, ICICI Bank MD and CEO Chanda Kochhar, and Axis Bank MD and CEO Shikha Sharma did not receive their bonuses in full for financial year 2016-17
"The corporate pipeline is still strong, which will lead growth. We expect to maintain a 15-16 per cent year-on-year credit growth," ICICI Bank's Joint Managing Director Chanda Kochhar told reporters in Mumbai on Tuesday. On ICICI Bank's microfinance portfolio, she said that the bank has covered more than 3-million customers under this portfolio.
