Equity benchmarks Sensex and Nifty ended marginally lower on Tuesday as investors booked profits at higher levels amid a mixed trend in global markets.
HCL Tech was the top loser in the Sensex pack, skidding over 4 per cent, followed by Tech Mahindra Dr Reddy's, Wipro, TCS, Titan and Infosys. NSE Nifty plunged 167.80 points to 17,110.15.
The gross non-performing assets of public sector banks rose to 6.03% at the end of June.
NPCI has launched several consumer friendly systems including one that allows users to transfer money to people over mobile phones across India.
Days after the Parliament repealed the IDBI Act, Industrial Development Bank of India is believed to have decided to remain a "stand-alone" entity initially and a merger with a big PSU bank may be considered later.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'The correction could take two to three months and traders need to be careful.' 'For investors, this could be a good time to nibble in.'
The forthcoming public offers of CIL and SAIL can be a roaring success if the debut history of 28 PSUs since 2003 is any indication, as 94 per cent of these public sector companies listed with a premium of at least 10 per cent on the bourses.
There were more than three losers against every gainer on BSE
The S&P BSE Midcap and S&P BSE Smallcap indices gained 0.4% and 1%, respectively
'The revenue projection arises out of all sectors doing well and the formalisation of the economy helps in making sure the tax domain gets widened.'
IndusInd Bank, Kotak Bank, ICICI Bank, Sun Pharma, Bajaj Finance and Ultratech Cement were prominent gainers. NSE Nifty rose 176.65 points to 14,867.35.
In the last two months, these stocks have lost nearly a quarter of their market cap.
GST rate cut for real-estate, income transfer scheme, farm loan waivers execution and recapitalisation of PSU banks have the potential to boost India's growth in a few months, says Neelkanth Mishra.
The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
The Budget came in a period when good news was otherwise scarce.
'This is not just the IREDA's IPO. It is the success of the ministry of new and renewable energy and of the renewable energy industry.'
Since the beginning of 2020, i-bankers have collected nearly Rs 1,800 crore by way of IPO fees. Interestingly, the India fees this year form just 1 per cent of the global fee pool of $13.7 billion from IPOs.
SBI Life Insurance is in the process of seeking permission from foreign regulators to sell its products to Non-Resident Indians through the overseas branches of the State Bank of India.
'SBI is already too big. Too big to fail.' 'It already is a moral hazard. What will it do with 20,000 branches that it cannot do with 14,000, especially in these days of online and mobile banking?'
The market rally was driven by strong buying in telecom, banking, realty, metal, FMCG and PSU counters.
Foreign institutional investment flows remain key driver for the Indian markets.\n
Laggards yet, a number of smaller PSBs in the category have balance sheets which do not give much comfort.
Budget this year has allowed PSBs to bring down govt stake to 51%
The market breadth, indicating the overall health of the market, was positive
'If the RBI blesses us with a banking licence, we would like to launch a successful bank.'
Telecom, metal and healthcare came as dampeners.
The 50-share NSE Nifty ended up 37.05 points, or 0.36 per cent, at 10,397.45 points
Infosys, Tata Motors, ONGC, TCS and GAIL are the top 5 losers.
United Bank's exposure to Kingfisher Airlines was around Rs 350 crore (Rs 3.50 billion)
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
.jpg)
The global brokerage firm in March had trimmed the growth forecast to 6 per cent and in June again it revised the growth estimate to 5.8 per cent.
Independent market analyst Ambareesh Baliga points out the red flags that retail investors should not have ignored and lists three scenarios -two of these scenarios offer a glimmer of hope to retail shareholders of Yes Bank - that could play out in the coming days.
Recent rates cuts by most banks may not have a significant impact on margins, say analysts.
Observing that a look out circular (LOC) restricts a person's free movement and the right to travel, the Calcutta high court has said it should be issued only in exceptional circumstances.
If a name does not unify the three, there could be continued clash of identities, which could splinter the brand even before it takes shape, say Abhijit Lele and Nikhat Hetavkar.
He cautioned however that these are the early signs and one should not start celebrating.
Urging India Inc to participate in the growth story, Sitharaman said they should participate in the divestment programme by becoming the first bidders.
As per the mega consolidation plan, Oriental Bank of Commerce and United Bank of India will merge into Punjab National Bank (PNB); Syndicate Bank into Canara Bank; Andhra Bank and Corporation Bank into Union Bank of India; and Allahabad Bank into Indian Bank. Following this merger, PNB will become second largest after the SBI, Canara Bank fourth, Union Bank of India fifth and Indian Bank seventh biggest public sector lender.
Banks cannot shirk their responsibility in cases of frauds.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances