Individual banks should break away from the industry pact and have their own settlements with the unions, recommends Tamal Bandyopadhyay.
Equity benchmark Sensex tumbled 674 points on Friday, weighed by losses in banking stocks as an unabated spike in new coronavirus cases fuelled uncertainty over the economic impact of the pandemic. After hitting a low of 27,500.79 during the day, the 30-share BSE barometer ended 674.36 points or 2.39 per cent lower at 27,590.95. The NSE Nifty shed 170 points, or 2.06 per cent, to finish at 8,083.80.
Participants are eagerly waiting for the key macrodata -- IIP and CPI numbers due to be released later today.
Bids for the issue, which opens on January 23 and closes on January 25, can be made for a minimum of 18 shares and in multiples of 18 thereafter.
The shares - close to 30% of the total holding - are expected to list on rival National Stock Exchange on or around February 3.
TCS and Infosys were the top losers in the Sensex pack, falling up to 3.39 per cent.
Kochhar brothers stepped down from the board of Credential Finance by 2009. While Deepak Kochhar started NuPower Renewables, Rajiv set up Avista Advisory Group
As yields on 10-year government bonds rose from 6.65% in April 2017 to around 7.50% now, liquidity pressures have increased the cost of funds for housing finance companies.
The yellow metal is a safe bet in the long run.
7 million jobs will be created in formal sector in FY18
Top 5 losers include Infosys, TCS, ITC, M&M and HUL.
Mukesh Ambani-led RIL, which had a cash chest and marketable securities worth over Rs 90,000 crore (Rs 900 billion) at the end of the last fiscal, is known for very effectively managing its financial resources by placing them in liquid instruments and highly rated securities.
Stocks such as ICICI Bank, Axis Bank, State Bank of India, Bank of Baroda and HDFC Bank are among the top banking picks of analysts for 2017. A decline in cost of funds and treasury gains are expected to help stabilise their net interest margins
Investors with stalled projects and mounting bad debt will refinance their loans.
PSU bank shares were the top gainers on hopes of a rate by the RBI on easing consumer inflation
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
BSE, the oldest stock exchange in Asia, aims to raise up to Rs 1,243 crore from the IPO, which has a price band of Rs 805-806 per share.
High networth individuals selling stocks to buy real estate is among the key risks for the Indian markets.
The recovery was led by pharma majors led by Dr Reddy's Labs.
Heads of various public and private sector banks on Thursday sought to present a counter-narrative on RBI Governor Shaktikanta Das warning lenders about the perils of extreme risk aversion in the pandemic-stricken environment where credit demand is on the wane.
Indian bankers are fearful that going out of their way to save Jet could lead to subsequent harassment from investigative agencies.
The resolution plan has to be put to work this month itself. Jet has a debt of over Rs 8,000 crore and needs to make repayments of up to Rs 1,700 crore by the end of March.
Dalal Street is bullish on invest
RBI seeks detailed report on what happened between 2011 and now; bankers to recall loans to Nirav Modi entities.
In the Sensex kitty, ITC turned star performer by surging 2.45 per cent, followed by NTPC rising 2.19 per cent.
Other losers included HCL Tech, Yes Bank, IndusInd Bank, TCS, ONGC, Bajaj Finance, PowerGrid, Vedanta, Asian Paints, NTPC and Hero MotoCorp, which shed up to 4.07 per cent.
Jet has been operating on international routes since 2004, being the first private airline to do so in decades, after it launched a Chennai-Colombo service in March that year.
The Sensex took just five trading sessions to surpass the 36,000-level milestone, from 35,000.
The RBI left the policy rates unchanged in Tuesday''s sixth bi-monthly monetary policy review.
Bank shares were the top gainers led by ICICI Bank.
The second fortnight of September saw Rs 3 lakh crore of time deposits, something unique, followed by liquidation of Rs 1.2 lakh crpre of these right after.
The firm, which owns, operates and manages hotels, palaces and resorts, is likely to hive-off the two properties into separate entities.
Seven students were made international offers.
State Bank of India chief Arundhati Bhattacharya, ICICI bank head Chanda Kochhar, Biocon founder Kiran Mazumdar-Shaw and HT Media chair Shobhana Bhartia are among the world's 100 most powerful women.
'The entire government-owned banking system (excluding SBI) is now in the red.' 'But worse is to come,' warns T N Ninan.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
The NSE Nifty after shuttling between 10,397.60 and 10,279.35 points, ended 47 points, or 0.45 per cent lower at 10,301.05.
Removal of mark-ups to be paid by Maruti, other changes could raise funding need to Rs 6,000 crore.
India's state banks are under pressure to improve profitability.
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