The global brokerage has also lowered the growth forecast to 6.8 per cent for the 2014-15 fiscal.
Not all public sector banks are back in the black, but their collective net profit for the year is Rs 32,346 crore against a Rs 9,013 crore loss in the previous year, points out Tamal Bandyopadhyay.
Benchmark shares indices ended marginally higher on Tuesday, amid a volatile trading session, led by oil exploration major ONGC.
State-un insurer LIC has pared its stake in Infosys to 5.96 per cent, reducing its holding in the IT major in the last quarter with an estimated sale of shares worth over Rs 2,000 crore.
Markets pared early gains to end lower on Tuesday amid selling pressure in IT, FMCG and oil shares.
Forex dealers said continued capital inflows and a weak dollar overseas also supported the local currency.
Markets pared early gains to end lower weighed down by selling pressure in FMCG, oil and auto shares.
Jet Airways shares fall as much as 13.6 per cent after media reported that the deal with Etihad may be called off.
The market breadth in BSE ended unhealthy with 1,203 shares declining and 894 shares advancing.
A dangerous flashpoint in United States-India relations faces visiting US Secretary of Defence, Leon Panetta, who faces tough questions from Indian officials on Tuesday, writes Ajai Shukla
Faced with falling market share, full service airlines are slashing ticket costs to compete with low-cost carriers.
Realty, Bankex, Auto lead sectoral indices on BSE.
The deal follows Facebook picking up a 9.99 per cent stake in the firm that houses India's youngest but largest telecom firm on April 22 for Rs 43,574 crore. Within days of that deal, Silver Lake -- the world's largest tech investor -- bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore. On May 8, US-based Vista Equity Partners bought 2.32 per cent stake in Jio Platforms for Rs 11,367 crore.
As per the latest shareholding pattern data of the company, foreign institutional investors held 45.81 per cent stake in Vijay Mallya-led UB group firm United Spirits Ltd as on December 31.
After making a strong opening, shares of Infosys further jumped 9 per cent to Rs 2,624.90 on the BSE.
Late selling in blue-chips like Reliance Industries, ITC, Infosys, TCS and Bharti Airtel dragged down the index from the record level to close flat.
Gold was among the least bruised by Monday's selloff, dropping half a percent versus a 6 percent slide in Brent crude and a 2 percent decline in copper.
Car makers are reaching out to consumers in rural centres as high lending rates slow urban demand.
In absolute terms, the outstanding book value of NPAs of LIC in the debt portfolio across life, pension and unit-linked funds is to the tune of Rs 32,685.39 crore at the end of December 2019.
India's largest real estate player, DLF, has sold its entire stake in Adone Hotels and Hospitality Limited (Adone) to Kolkata-based Avani Projects and Square Four Housing & Infrastructure for Rs 567 crore.
Temasek is exiting by selling its 10 per cent stake while Network Digital Distribution Services will pare part of its 30 per cent stake.
Heavy unwinding by foreign portfolio investors and lacklustre equities dampened the sentiment
Yes Bank, Wipro, Kotak Bank, M&M, Sun Pharma, Maruti, HDFC, Hero MotoCorp, Infosys, TCS, L&T, Bajaj Auto and HUL were among the top gainers, rising up to 6 per cent.
Metal and Auto shares end lower while Realty stocks surge.
The dollar index was down by 0.23 per cent against a basket of six major rivals after the US Federal Reserve continued to express concern about the economy and made no changes to its ultra-easy monetary policies.
Will offer lower rates on home loans till end of 2012.
The Congress High Command needs to take some urgent steps to quell dissidence within ruling Congress in Arunachal Pradesh, where public campaign against the incumbent Chief Minister Jarbom Gamlin has triggered street clashes and created law and order problem besides creating tension between different tribes.
The rupee rose notwithstanding weakness in local stocks with Sensex paring 110 points gained in early trade and closing 19 points lower while dollar firmed against euro.
Forex experts said the dollar index, a gauge of six major global rivals, was marginally up ahead of US non-farm payroll data later in the evening while New York crude oil was quoting below USD 91 a barrel in Europe today.
At the Interbank Foreign Exchange (Forex) market, the rupee resumed sharply higher at 53.80 a dollar compared to last Friday's close of 54.30.
The coming festive season is unlikely to bring cheer for the automobile companies. Leading manufacturers said on they did not expect consumer demand to rev up sales substantially this October, due to uncertainties over increasing lending rates and fuel prices.
Markets pared early gains and ended on a flat note, weighed down by profit-taking in Oil & Gas and Auto shares. The Sensex ended at 17,850 - up three point. Nifty ended flat at 5,415.
Sector-wise, banking, IT, pharma and realty indices drove the market momentum.
Weak trends in local stocks with Sensex dropping by 129 points also weighed on rupee but some capital inflows limited its decline to some extent, forex dealers said.
In the new decade, the scene will change because the banks till recently had been challenged by the fintechs, but the techfins have now entered the arena, observes Tamal Bandyopadhyay.
The lender, however, is not likely to reduce its base rate to which all loan rates are linked.
If the government cuts wasteful expenditure as it is trying now, the deficit would at most fall to 8 per cent, not less than that.
Diverse marquee investors are becoming long-term shareholders of Jio Platforms because of a unique set of technologies and platforms under one entity.
