West Bengal Chief Minister Mamata Banerjee has accused the Damodar Valley Corporation (DVC) of releasing water recklessly and without prior intimation, creating a flood-like situation in south Bengal districts during Durga Puja.
Utilities in the power sector present an interesting investment case at this moment. Most power stocks have lost substantial ground in the past 12 months.
The country's largest lender State Bank of India on Wednesday announced the completion of the divestment of about 13.18 per cent stake in Yes Bank to Sumitomo Mitsui Banking Corporation of Japan for Rs 8,888.97 crore. State Bank of India (SBI) has received Rs 8,888.97 crore from the acquirer Sumitomo Mitsui Banking Corporation (SMBC), a Japanese multinational financial services company belonging to the Sumitomo Mitsui Financial Group (SMFG), the bank said in a regulatory filing.
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The West Bengal Urdu Academy has postponed a 'mushaira' featuring Javed Akhtar following protests by some Muslim groups who claim his comments hurt religious sentiments. Left student organizations condemn the postponement.
India's global chess domination was lauded by President Droupadi Murmu in her address to the nation on Thursday
Prime Minister Narendra Modi has described sports as an essential aspect of India's journey towards becoming a developed nation, saying that the new National Sports Policy will ensure a sporting growth that covers the farthest school to the elite Olympics.
The IBPS clerk application form for 2025 will be released on July 31. The IBPS Clerk preliminary exam 2025 is scheduled to be held on October 4, 5 and 11.
'Maintain a balanced approach with a preference for short-to medium-duration funds.'
In May, MFs were the net sellers in several PSUs, as they deployed Rs 47,600 crore in equities during the month.
'Those betting against PSUs will likely be punished in this upswing.'
>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
A moving goods train carrying diesel caught fire on Sunday at Tiruvallur in northern Tamil Nadu severely affecting train services on the arterial Chennai-Arakkonam rail route, which also links Chennai with Karnataka, Kerala and Andhra Pradesh, officials said.
While near-term performance is difficult to predict after a huge run-up, fund managers believe the PSU theme's prospects remain sound over the medium to long term.
Khelo Bharat Niti: Regulatory bodies for better sports administration but will IOA, NSFs play ball?
The pace of loan growth among public sector banks (PSBs) has seen a surge in the financial year 2024-25, and this is an exception to the overall moderation in bank credit during FY25. PSU banks' share in incremental credit rose to 57.3 per cent in March from 51.7 per cent a year ago, according to the Reserve Bank of India's (RBI's) Monetary Policy Report (April 2025).
Increasing cooperation in critical minerals will top Prime Minister Modi's agenda during his discussions with leaders of Ghana, Argentinia, Brazil and Namibia.
So, the next time someone tempts you with a slightly higher FD rate from a lesser-known bank, point them to hybrid funds that can deliver extra returns without the administrative and emotional rollercoaster.
RBI's interest rate decision, macroeconomic data announcements and global trends are the key factors that would dictate the momentum in the equity market this week, analysts said.
Stock Market News today, PSU banks: The year 2024 was a roller-coaster ride for Indian stock markets, marked by volatility driven by the Lok Sabha elections, Union Budget 2024, a slowdown in corporate earnings, and sticky inflation. Geopolitical tensions - particularly between Israel and Iran in West Asia - along with various stimulus announcements by China and yen carry trade rocked the equity markets throughout the year.
According to the sources, the claim suggests that the attackers may have compromised personal information related to defence personnel, including the login credentials.
'The Election Commission is conducting the National Register of Citizens in Bihar through the backdoor.'
Shares of public sector enterprises have corrected by up to 22 per cent month-to-date until March 19, 2024. Analysts attribute this steep fall to the valuation exuberance seen after a sharp run in these counters last year and suggest investors remain selective regarding the stocks in this space. "The rally in public sector undertaking (PSU) stocks has been stretched and sharp, although it is somewhat justified by improvements seen in earnings, operations, balance sheets, and overall profitability.
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
Success in this space demands more than luck, it requires sharp analysis, disciplined execution, and understanding market movers.
Notwithstanding the recent sharp decline in the stocks of public sector companies, analysts at Jefferies remain bullish on this segment. State Bank of India, Coal India, and NTPC are their top picks in this space, they said in a recent note. The public sector undertaking (PSU) or state-owned enterprise (SOE) index, with a 70-percentage-point outperformance versus the National Stock Exchange Nifty50 over the past 12 months, comes after a decade of underperformance before 2020.
Stocks of public sector undertakings (PSUs) have been on fire in the past year as investors cheered an improvement in key operating metrics and embraced counters of these state-owned enterprises, analysts suggest. The S&P BSE PSU Index has gained over 90 per cent in the past year, rising much higher than the S&P BSE Sensex, which has rose nearly 19 per cent during this period, according to ACE Equity data. The BSE PSU Index, reports show, has delivered a compound annual growth rate (CAGR) of 28 per cent (including dividends reinvestments) over five years and risen by almost 60 per cent in the past year.
Global brokerage CLSA has lowered its target price for IndusInd Bank from Rs 1,200 to Rs 900 while maintaining an outperform rating on the stock after the private lender disclosed a net worth hit of Rs 1,500 crore due to an accounting gap. The revised price target still implies an upside of 34 per cent from current levels.
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Stock exchanges' levy of penalties, ranging from Rs 3 lakh to Rs 12 lakh, on public-sector undertakings (PSUs) for lapses in board composition for the 2024-25 October-December quarter has brought forth issues of governance. Last month, 16 PSUs requested bourses to waive these penalties, arguing that these lapses were neither due to negligence nor within their control, as the appointment of directors is managed by the government.
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rediffGURU Mayank Chandel counsels students on the various options they can pursue after Class 12.
The last year has seen public sector undertakings (PSUs) outperforming the Nifty50, albeit by a small degree. But PSU valuations are still, on average, less than half of private sector peers at price-to-equity or PE 8.7x for the Nifty PSU Index versus 20.9x for the Nifty50. There are several reasons for lower valuation.
Despite rising interest rates, and high inflation, the banking sector is doing well, on the back of a recovering economy. The last couple of quarters indicate credit demand is picking up and Return on Assets (RoA) is more than acceptable at the moment. The PSU bank pack may be more interesting at the moment simply due to being valued at far lower multiples than the private banks.
rediffGURU Ulhas Joshi answers your mutual fund queries.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Cooking gas or Liquified Petroleum Gas (LPG) price has been raised by Rs 50 per cylinder by distribution companies, Union Oil Minister Hardeep Singh Puri said on Monday.
India needs another shot of difficult reform, of the kind only possible at gunpoint. Mr Trump holds that gun to our heads now. A drastic reduction in tariff protection, other elements of sarkari wet-nursing will force entrepreneurial India to become competitive again, argues Shekhar Gupta.
In an eventful week ahead, stock market investors will take cues from major events like the US Federal Reserve's interest rate decision, the upcoming Union Budget and Q3 earnings, analysts said.
The Reserve Bank of India's (RBI's) $10 billion US dollar-rupee buy-sell swap auction for three years received bids worth $16.23 billion on Friday, reflecting robust demand amid persistent liquidity deficit in the banking system. This was the second swap auction by the central bank after it infused $5 billion via six month-swap on January 31.
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