The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
Power Trading Corporation will enter the capital market next month with its initial public offer to enhance capital by Rs 58.5 crore (Rs 585 million).
Industry sources said the carrier owed over Rs 620 crore to BPCL and HPCL, besides Rs 160 crore to IOC. However, Kingfisher Airlines is not the only company with oil dues. Kingfisher Airlines, Jet Airways and state-owned Air India started this financial year with accumulated dues of Rs 4,000 crore to oil companies and airports, sources said. The three airlines are collectively projected to incur operating losses of Rs 5,000 crore, industry estimates suggest.
Experts feel select companies in banking, automobiles, financial services & real estate will gain from lower interest rates
Major gainers in the Sensex pack were Hero Motocorp, which rallied 7.01 per cent, followed by Bharti Airtel (6.69 per cent), Yes Bank (5.30 per cent), Adani Ports (4.90 per cent), Tata Steel (3.75 per cent) and Bajaj Auto (3.70 per cent).
ICICI Bank was the top loser after the private lender reported sharp drop in Q4 net.
Yes Bank was the top gainer in the Sensex pack, surging 3.76 per cent, followed by SBI at 3.18 per cent.
Sources involved in the bidding process confirmed that the entity had submitted a bid but expressed doubt over its acceptance
'There is merit in keeping the central bank's balance sheet strong if the government's fiscal balance sheet is weak.'
Patanjali, the lone player left in contention after the exit of Adani Wilmar, had last month increased its bid value by around Rs 200 crore to Rs 4,350 crore for Ruchi Soya.
It will be headed by Secretary, Department of Financial Services.
Banking operations including cheque clearance across the country got affected on Monday as bankers under the aegis of the United Forum of Bank Unions have gone on a nationwide strike to protest against the proposed privatisation of two state-owned lenders.
Equity benchmarks erased early gains after realty, capital goods, teck, auto, PSU, IT, power and bankex counters came under selling pressure, falling up to 1.28 per cent.
'It could tempt investors to pick stocks that are not fundamentally sound.'
The Sensex has conquered the 19,000-mark backed by revival of funds-based buying in blue chip stocks in metal, capital goods and refinery sectors.
Investors in LIC's insurance and other schemes are receiving a lower rate of return because LIC is subsidising incompetence at best and malfeasance at worst in institutions such as IDBI Bank and IL&FS, says Jaimini Bhagwati.
A formal sector worker can contribute towards pension scheme till the age of 58.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
NSE Nifty, after shuttling between 10,809.60 and 10,725.90, finished 30.95 points, or 0.29 per cent lower at 10,741.10.
Other than ITC, other laggards include PowerGrid, Infosys, M&M, NTPC, SBI, HDFC, Kotak Bank, HDFC Bank, TCS, Hero MotoCorp, Coal India, ONGC, RIL, Asian Paint, IndusInd Bank, ICICI Bank, Maruti Suzuki, Bajaj Auto, Tata Motors, Bharti Airtel and Axis Bank.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
We need to see if some system-level changes have to be brought about to eliminate the incentives that exist for multiple applications
Stung by the crisis arising out of the Syndicate Bank bribery case, lenders have gone into a fire-fighting mode to avoid fresh bad loans from their exposure to Bhushan Steel, one of the most indebted steel companies in the country.
India's state banks are under pressure to improve profitability.
The broader NSE Nifty reclaimed the key 10,000-mark and touched a high of 10,143.50 before finally settling at 10,130.65
For the second straight week, the Sensex rose, notching up a significant gain of 528.34 points, or 1.59 per cent. The Nifty was up 129.45 points, or 1.25 per cent, during the week.
Six Indian women have made it to Asia's most powerful women list released by Forbes.
Did you know that women can avail for a loan of upto Rs 20 crores to set up a manufacturing business?
The NSE Nifty cracked below the 10,800-mark to hit a low of 10,753.05 intra-day, before closing at 10,762.45 with a loss of 59.40 points, or 0.55 per cent.
BoB now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers.
Coal India was the biggest gainer on both Sensex and Nifty
High networth individuals selling stocks to buy real estate is among the key risks for the Indian markets.
On the last day of FY!5, the Sensex ended lower by 18.37 points at 27,957.49.
The biggest private sector lender, are swarming the market with discounts and special offers
Central bank sees action as discriminatory, unfair
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
The strike call is over privatisation, mergers, and also due to write-off of corporate NPAs, criminalisation of willful default
The Sensex opened marginally higher at 14,415
