Shares of state-owned bank stocks were under pressure on Monday due to muted deposit and credit growth numbers reported by these lenders in the October-December quarter (Q3) of 2024-25 (FY25). The Nifty PSU Bank index was down 4 per cent, with Union Bank of India emerging as the biggest loser as its shares fell 7.5 per cent to close at Rs 114.7, followed by a 5.7 per cent drop in shares of Bank of Baroda (BoB) to Rs 228 and a 4.7 per cent slide in shares of Bank of India to Rs 99.8 on the National Stock Exchange.
Uttam Ghosh offers his take on India's Vaccine Crisis.
It is not just the secondary market that is witnessing a revival in fortunes. Even the initial public offering (IPO) market have roared back to life, with investors submitting bids worth over Rs 2.2 trillion on the three IPOs that wrapped up on Friday. Fashion retailer Vishal Mega Mart (VMM)'s IPO (fifth largest of the year) garnered 27.3x subscription, with bids exceeding Rs 1.6 trillion.
Uttam Ghosh offers his take on Modi's jibe and Mamata's retort.
Uttam Ghosh pays homage to these martrys for India.
Uttam Ghosh offers his take on the Delhi election results.
'Consider 40% to 50% in equities, 10% in gold as a hedge, and the remaining 30% to 40% split between multi-asset funds and hybrid funds.'
The ruling Mahayuti alliance bagged 53 of the 70 assembly seats in the region.
Wholesale price based inflation declined to a 3-month low of 1.89 per cent in November on cheaper food items, and experts predicted a 0.25 per cent interest rate cut by the RBI in the policy review in February. The Wholesale Price Index (WPI) based inflation was 2.36 per cent in October 2024. It was 0.39 per cent in November, last year. In August, 2024, it was 1.25 per cent.
'Health and motor insurance will continue to be our two most important segments'
'The shifts in US involvement in global conflicts and geopolitical alliances could introduce uncertainties.'
Uttam Ghosh offers his take on the turn of events in Jammu and Kashmir.
Trading activity of foreign investors and global trends will be the major driving factors for the equity markets in a holiday-shortened week ahead, according to analysts. Leading stock exchanges BSE and NSE have declared a trading holiday on November 20 for assembly elections in Maharashtra. Elections to the 288-member state legislative assembly will be held on November 20, and votes will be counted on November 23.
Uttam Ghosh asks why the PM Cares fund could not have paid for the train tickets of migrant workers on their way home when the government flew Indians stranded in different parts of the world for free!
Analysts are warning of growing risks to the market's sustained momentum, and even to the possibility of consolidation at current levels. Domestically, markets are grappling with several challenges, including a slowing economy, as indicated by the latest GDP data for the July-September (Q2) quarter of 2024-25 (FY25), sticky inflation, fluctuations in the rupee, waning consumption, and high interest rates.
NCP (SP) chief Sharad Pawar has thrown his weight behind villagers in Solapur, Maharashtra, who are demanding a repoll using ballot papers after raising doubts about the accuracy of Electronic Voting Machines (EVMs). Pawar met with villagers in Markadwadi, where a police case was filed against over 200 people for attempting to conduct an unauthorized re-election. He expressed support for their concerns, claiming that the villagers were "the ones who thought of conducting polls using ballot papers." Pawar criticized the police action, calling it a restriction on the villagers' right to assemble and vowing to raise the issue with the Chief Minister, the state Chief Electoral Officer, the Prime Minister, and the Election Commission of India.
Uttam Ghosh offers his take on Union Minister Anurag Thakur's incendiary slogan.
Uttam Ghosh offers his take on Donald J Trump's comment on Narendra Damodardas Modi: 'They love this gentleman to my right. People went crazy, he is like an American version of Elvis', referring to the Howdy Modi event.
'Journalists must ask the Mumbai police why are they sending notices via X to cartoonists.' 'The Mumbai police must come clean. Who is giving them such orders?'
Infrastructure bond issuances by commercial banks in the current financial year (FY25) are likely to surpass Rs 1 trillion, almost double that of FY24, market participants said. So far this financial year, banks have raised Rs 74,256 crore via infra bonds. In FY24, the total issuances stood at around Rs 51,081 crore.
The Indian market remains an attractive place to do business for the nation's entrepreneurs, with 75 per cent of them operating domestically.
Uttam Ghosh offers his take on Verdict 2019.
While liquidity in the banking system has turned surplus in the last few weeks, it could go back to deficit again, mainly due to corporate advance tax outflows. The net liquidity surplus of the banking system rose to touch Rs 1 trillion on Tuesday on the back of government spending, according to the data released by the Reserve Bank of India.
Public sector banks (PSBs) have proposed the Finance Ministry their plan to raise Rs 54,800 crore through Additional Tier-1 (AT-1) and Tier-2 bonds in the current financial year (FY25), 37 per cent more than the Rs 39,880 crore raised in FY24
'Before you work on your business plan, before you build your team, you should have a clear idea about what your product is, who your customer is, how valuable the product is, and whether the market is deep and wide.'
Global factors and FII activity will dictate trends in domestic equity markets this week while assembly poll results of Maharashtra and Jharkhand may impact stocks on Monday, say analysts. Stock markets witnessed a spirited recovery on Friday with benchmark Sensex and Nifty notching the best single-day gains in more than five months and offering relief after weeks of correction.
Finance ministers of states demanded an increase in allocation under 50-year interest-free loan scheme, while fiscally stressed states like Punjab and Kerala pitched for a special package and borrowing flexibility, sources said on Friday. In a pre-budget meeting with Union Finance Minister Nirmala Sitharaman, states have also urged for higher borrowing limits to support fiscal activities, besides additional funds for Jal Jeevan Mission.
ICICI Bank, Tata Motors, Tata Steel, NTPC, JSW Steel, State Bank of India and Adani Ports were the other big gainers. Asian Paints, Nestle, Tech Mahindra, HCL Technologies, Hindustan Unilever, Infosys and ITC were the other big laggards.
Uttam Ghosh offers his response to the grah mantri's subtle call for single party democracy.
India dominated from the start as they thrashed Japan 5-1 to continue their fine start at the Hero Asian Hockey Champions Trophy.
Credit card spending reached Rs 2 trillion in October, a 14.5 per cent rise from September, largely driven by festival season purchases. However, the volume of outstanding credit cards increased only marginally during the same period. The spike in spending comes at a time when nearly all major credit card issuers are calibrating their growth in the segment due to visible signs of stress.
The advance/decline ratio (ADR) - a gauge of market breadth - has remained negative (below 1) for a second consecutive month. In other words, the number of stocks declining is outpacing those rising, as a brutal selloff by overseas investors and lofty valuations weigh on sentiment. According to BSE data, the ADR for October stands at 0.98 for the second month in a row.
The Centre on Wednesday increased the Dearness Allowance (DA) by 3 percentage points effective from July 1 this year, benefitting more than 1 crore employees and pensioners ahead of the Diwali festival. The Union Cabinet has approved to increase Dearness Allowance (DA) to central government employees and Dearness Relief (DR) to pensioners by three percentage points of the basic pay/pension ahead of Diwali, Union Minister Ashwini Vaishnaw said after the Cabinet meeting.
The gig economy market is expected to grow at a compound annual growth rate (CAGR) of 17 per cent to reach a gross volume of $455 billion by the end of 2024, according to a white paper by The Forum for Progressive Gig Workers. Estimates suggest the gig economy has the potential to create 90 million jobs and add 1.25 per cent to India's GDP (gross domestic product) over time.
Uttam Ghosh offers his take on India slipping 10 places to the 51st position in the 2019 Global Democracy Index.
rediffGURU Ulhas Joshi answers your mutual fund queries.
Flipkart-backed super.money is on an expansion spree and plans to expand its range of offerings in credit and wealth management after launching its operations in July this year. The Bengaluru-based fintech company is on track to roll out credit products such as credit on Unified Payments Interface (UPI), unsecured credit cards, and personal loans within the first half of the next calendar year (2025).
Dalal Street minnows stole the show in 2024, giving handsome returns to investors, helped by a largely optimistic trend in the stock market and impressive retail investors' participation. Analysts attributed the positive trend in the equity markets, where the benchmark indices shattered many records this year, to robust domestic liquidity, strong fundamentals of the Indian economy, and policy continuity.
'Obesity, especially central obesity and increased visceral fat due to physical inactivity, along with the consumption of high-calorie, high-fat, and high-sugar diets, are major contributing factors.'
Alternative investment funds (AIFs) have crossed Rs 5 trillion in terms of funds raised, while the investment commitments have surpassed Rs 12 trillion for the first time as of September, according to data released by the Securities and Exchange Board of India (Sebi).
