niftify.in

ICICI Bank has staged an amazing turnaround. Is it overvalued now?

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Mon, Sep 16, 2024

ICICI Bank's turnaround story has led to its stock trading at a premium compared to HDFC and Kotak Mahindra Bank. Despite its impressive growth in book value and net profit, questions remain about its future returns, given its high valuation

Mint

ICICI Bank's turnaround story has led to its stock trading at a premium compared to HDFC and Kotak Mahindra Bank. Despite its impressive growth in book value and net profit, questions remain about its future returns, given its high valuation

Foreign lenders lured by rare stake sales in India banks, but tighter rules weigh

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Tue, Sep 3, 2024

Foreign banks from Japan and the Middle East are eyeing majority stakes in India's Yes Bank and IDBI Bank, as existing investors look to divest. Yes Bank has attracted interest from Sumitomo Mitsui Banking Corp and Emirates NBD, while IDBI Bank has seen interest from Fairfax Group and Kotak Mahindra Bank.

The Economic Times

Foreign banks from Japan and the Middle East are eyeing majority stakes in India's Yes Bank and IDBI Bank, as existing investors look to divest. Yes Bank has attracted interest from Sumitomo Mitsui Banking Corp and Emirates NBD, while IDBI Bank has seen interest from Fairfax Group and Kotak Mahindra Bank.

Yes Bank appoints Sumit Bali country head, retail assets and debt management

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Wed, Aug 28, 2024

Yes Bank has named Sumit Bali as the Country Head for Retail Assets and Debt Management. Bali brings over 30 years of experience and will focus on enhancing retail and rural assets and debt management growth. He has previously worked in leadership roles at Axis Bank, India Infoline Group, and Kotak Mahindra Bank.

The Economic Times

Yes Bank has named Sumit Bali as the Country Head for Retail Assets and Debt Management. Bali brings over 30 years of experience and will focus on enhancing retail and rural assets and debt management growth. He has previously worked in leadership roles at Axis Bank, India Infoline Group, and Kotak Mahindra Bank.

Retail

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Mon, Aug 26, 2024

Kotak Mahindra Bank’s subsidiaries Sonata Finance and BSS Microfinance approved merging, pending regulatory and shareholder approvals. The merger follows an independent valuation and includes a share exchange. The combined net worth of Sonata and BSS is under 2% of the bank’s net worth. The bank’s shareholding pattern remains unchanged.

The Economic Times

Sonata Finance to merge with BSS Microfinance: Kotak Bank

Kotak Mahindra Bank’s subsidiaries Sonata Finance and BSS Microfinance approved merging, pending regulatory and shareholder approvals. The merger follows an independent valuation and includes a share exchange. The combined net worth of Sonata and BSS is under 2% of the bank’s net worth. The bank’s shareholding pattern remains unchanged.

Sonata Finance to merge with BSS Microfinance: Kotak Mahindra Bank

Microfinance

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Mon, Aug 12, 2024

As per the scheme of amalgamation approved on Monday, Sonata would merge with BSS Microfinance Ltd on a going concern basis, Kotak Mahindra Bank said in a regulatory filing

Business Standard

As per the scheme of amalgamation approved on Monday, Sonata would merge with BSS Microfinance Ltd on a going concern basis, Kotak Mahindra Bank said in a regulatory filing

Stocks that will see action today: August 12, 2024

Microfinance

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Mon, Aug 12, 2024

Buzzing Stocks: Adani group, 360 One, REITs, Aavas Financiers, ONGC, L&T, Kotak Mahindra Bank, VA Tech Wabag, Amara Raja, Mazagon Dock

Business Line

Buzzing Stocks: Adani group, 360 One, REITs, Aavas Financiers, ONGC, L&T, Kotak Mahindra Bank, VA Tech Wabag, Amara Raja, Mazagon Dock

Nifty Bank closes near day’s low; here are important levels to track on Thursday

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Mon, Aug 12, 2024

Bank stocks saw mixed trading on Tuesday ahead of a holiday, with SBI, Bank of Baroda, Federal Bank, ICICI Bank, and Bandhan Bank gaining while AU Small Finance Bank, PNB, and Kotak Mahindra Bank faced selling pressure.

The Economic Times

Bank stocks saw mixed trading on Tuesday ahead of a holiday, with SBI, Bank of Baroda, Federal Bank, ICICI Bank, and Bandhan Bank gaining while AU Small Finance Bank, PNB, and Kotak Mahindra Bank faced selling pressure.

Kotak Mahindra Bank announces new distribution structure to enhance customer experience

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Tue, Jul 16, 2024

Kotak Mahindra Bank unveiled a new Distribution structure to integrate its physical branches, digital platforms, and voice channels, enhancing customer experience and operational efficiency. Pranav Mishra, with 30 years of experience, was appointed Head of Distribution. This strategic move aims to deliver seamless, omni-channel banking across all Group products and services.

The Economic Times

Kotak Mahindra Bank unveiled a new Distribution structure to integrate its physical branches, digital platforms, and voice channels, enhancing customer experience and operational efficiency. Pranav Mishra, with 30 years of experience, was appointed Head of Distribution. This strategic move aims to deliver seamless, omni-channel banking across all Group products and services.

Kotak Mahindra Bank, Shriram Finance among 5 stocks with short buildup

Services

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Tue, Jul 16, 2024

A short buildup occurs when there is an increase in open interest and trading volumes coupled with a decline in the price of the underlying stock in the Futures and Options segment.

The Economic Times

A short buildup occurs when there is an increase in open interest and trading volumes coupled with a decline in the price of the underlying stock in the Futures and Options segment.

Kotak Mahindra Bank says it has to do more to leverage technology

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Tue, Jul 16, 2024

Kotak Mahindra Bank's new chief emphasizes tech transformation despite RBI ban. Auditors highlight IT system complexities affecting financial reporting. Industry experts link RBI actions to the bank's 811 offering success. The bank shows growth in customer base and financial metrics.

The Economic Times

Kotak Mahindra Bank's new chief emphasizes tech transformation despite RBI ban. Auditors highlight IT system complexities affecting financial reporting. Industry experts link RBI actions to the bank's 811 offering success. The bank shows growth in customer base and financial metrics.

Kingdon never disclosed any relationship with Hindenburg: Kotak Mahindra Bank

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Sun, Jul 14, 2024

Kingdon informed KMIL that the transactions were made on a principal basis, i.e. for themselves, said the bank in a stock exchange filing

Business Standard

Kingdon informed KMIL that the transactions were made on a principal basis, i.e. for themselves, said the bank in a stock exchange filing

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Wed, Jul 3, 2024

Hindenburg Research rebuts Sebi's allegations of collusion with Kingdon Capital Management in shorting Adani Group stocks. Sebi's 46-page notice claims Hindenburg's actions facilitated significant gains for Kingdon Capital, but Hindenburg dismisses these as baseless and accuses Sebi of neglecting investor protection. Kotak Mahindra Bank's alleged involvement adds to the controversy, with Sebi and Kotak yet to comment.

The Economic Times

Adani-Hindenburg Row: What are the allegations against US-based short-seller? What's the link with Kotak Mahindra?

Hindenburg Research rebuts Sebi's allegations of collusion with Kingdon Capital Management in shorting Adani Group stocks. Sebi's 46-page notice claims Hindenburg's actions facilitated significant gains for Kingdon Capital, but Hindenburg dismisses these as baseless and accuses Sebi of neglecting investor protection. Kotak Mahindra Bank's alleged involvement adds to the controversy, with Sebi and Kotak yet to comment.

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Tue, Jul 2, 2024

The index hit a record high of 53,180, but pared most of the intraday gains and ended with a loss of 59 points at 52,811. IndusInd Bank, Axis Bank and Kotak Mahindra Bank were among top gainers while selling was seen in IDFC First Bank, Bandhan Bank, AU Small Finance Bank and PNB.

The Economic Times

Nifty Bank climbs Mt 53K; here are important levels to track on Friday

The index hit a record high of 53,180, but pared most of the intraday gains and ended with a loss of 59 points at 52,811. IndusInd Bank, Axis Bank and Kotak Mahindra Bank were among top gainers while selling was seen in IDFC First Bank, Bandhan Bank, AU Small Finance Bank and PNB.

Credit Card issuance soars despite worries over unsecured loans

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Thu, Jun 27, 2024

Credit card base in India grew 18% YoY to reach 103 million, with HDFC bank adding the most new cards. However, Kotak Mahindra bank saw a sharp drop amid RBI restrictions. Card spending also grew 17% YoY to reach Rs 1.65 trillion. The credit card industry has seen a continuous decline due to caution about large unsecured loans and asset quality issues.

The Economic Times

Credit card base in India grew 18% YoY to reach 103 million, with HDFC bank adding the most new cards. However, Kotak Mahindra bank saw a sharp drop amid RBI restrictions. Card spending also grew 17% YoY to reach Rs 1.65 trillion. The credit card industry has seen a continuous decline due to caution about large unsecured loans and asset quality issues.

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Wed, Jun 26, 2024

Kotak Mahindra Bank plans to open 175-200 new branches in FY 2024-25, following a ban by the RBI on acquiring new digital customers due to IT deficiencies. This expansion aims to boost customer acquisition through physical branches while the bank strengthens its IT systems to comply with regulatory standards.

The Economic Times

Kotak Mahindra Bank to add up to 200 branches in FY25

Kotak Mahindra Bank plans to open 175-200 new branches in FY 2024-25, following a ban by the RBI on acquiring new digital customers due to IT deficiencies. This expansion aims to boost customer acquisition through physical branches while the bank strengthens its IT systems to comply with regulatory standards.

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Mon, Jun 24, 2024

Stocks News

Suzlon Energy excluded from Stage 1 Additional Surveillance Measure framework

The parameters for shortlisting securities under ASM include high-low variation, client concentration, number of price band hits, close-to-close price variation and price-earnings ratio.

SUZLON

Cola price war intensifies with Reliance's Campa expansion

Reliance Consumer Products is intensifying competition in the Indian soft drinks market by expanding its Campa range at half the price of Coca-Cola and PepsiCo brands. This move has prompted Coca-Cola and PepsiCo to increase promotions, though they have not yet reduced prices. The festive season could see further developments in this cola price war.

RELIANCE

SC rejects telecom firms' pleas on AGR case, Vodafone Idea stocks tank

Failure of last legal recourse by telcos to hit Vi the hardest despite the firm paying back Rs 7,900 crore

Indus Towers clarifies on share price drop following Supreme Court's AGR plea dismissal

On Thursday (September 19), shares of Indus Towers plunged 8.86% to ₹389.65, with an intra-day low of ₹366.30, a 14.32% drop.

INDUSTOWER

Thomas Cook opens new franchise outlet in Chromepet, Chennai

THOMASCOOK

VCs happy with returns as early backers offload 10% stake in Honasa Consumer: Varun Alagh

According to the bulk deal data available on the National Stock Exchange (NSE), Peak XV Partners sold a 3.81% stake in Honasa Consumer and Fireside Ventures offloaded a 2.03% stake in the company.

HONASA

Uno Minda plans new facilities in Indonesia and India

Uno Minda has been a significant player in the Indonesian market since 2005, when it established its first manufacturing facility. PTMA currently supplies components and systems to major two-wheeler OEMs in the country. The new plant will enable Uno Minda to diversify its product offerings and cater to the growing demand for passenger car components. Once the new plant is commissioned, the existing plant will also be relocated to the new site to consolidate operations and achieve economies of scale. The total capital expenditure for the new plant is estimated at Rs 210 crore.

UNOMINDA

MINDACORP

Gainers & Losers: NTPC, Aavas Financiers among 6 stocks in action on Thursday

Indian headline indices reached record highs on Thursday, with the Nifty surpassing 25,000 and closing at 83,184.80, while the Sensex ended at 25,415.80, driven by HDFC Bank.

Stock market update: FMCG stocks down as market rises

The 30-share BSE Sensex closed up 236.57 points at 83184.8

BSE

Motisons Jewellers board OKs 1:10 stock split proposal

Motisons Jewellers said that its board had approved a proposal to split one equity share of the company having face value of Rs 10 each into ten equity shares with a face value of Re 1 each.

MOTISONS

Bharti Airtel becomes 4th Indian company to achieve ₹10 lakh crore in market capitalisation

The stock of Bharti Airtel rallied more than 3% in Thursday’s trade, taking the year-to-date gains to 62%. In comparison, the benchmark Nifty has gained 17% during the same period.

BHARTIARTL

Top Gainers and Losers today on 19 September, 2024: NTPC, Kotak Mahindra Bank, Bharat Petroleum Corporation, Coal India among most active stocks; Check full list here

Top Gainers and Losers Today : The Sensex gained 236.57 points, or 0.29, to settle at 82948.23, while the Nifty gained 38.25 points, or 0.15, to close at 25377.55.

Siemens Ltd receives nod for energy business demerger; stock trades flat

Siemens Ltd to transfer demerged energy business to wholly-owned subsidiary

SIEMENS

ICICI Bank, Bharti Airtel, NTPC—Over 240 shares jump to 1-year peaks; Sensex, Nifty 50 hit record highs

Stocks at record high: As many as 241 stocks, including ICICI Bank, Bharti Airtel, NTPC and Britannia Industries, hit their fresh 52-week highs in intraday trade on BSE on Thursday, September 19.

Unique Picks: Stocks held by only one MF scheme in August, rally upto 280% in CY24

ETMarkets' latest mutual fund analysis explores stocks held by just one scheme. As of August 2024, we identified 157 of these stocks. To refine our focus, we concentrated on those with a mutual fund market value exceeding ₹20 crore and a share price increase of over 20% in calendar year 2024 to date.

FOCUS

Lokesh Machines to make heavy machine guns; stock plummets

Lokesh Machines secures manufacturing licence for 12.7-30 mm calibre guns

LOKESHMACH

Stock Split: Motisons Jewellers, after a 50% surge in a month, will divide its shares

Record date for the stock split has been fixed as Saturday, November 9, 2024.

MOTISONS

Veeram Securities Ltd leads losers in 'B' group

P N Gadgil Jewellers Ltd, Ecos (India) Mobility & Hospitality Ltd, Kriti Industries (India) Ltd and PTC India Ltd are among the other losers in the BSE's 'B' group today, 19 September 2024.

‘Most enduring gift to humankind’: Anand Mahindra excited about Elon Musk-owned Neuralink's ‘Blindsight’ device

Indian business tycoon Anand Mahindra has expressed his excitement about Elon Musk's Neuralink company and its potential to revolutionise vision restoration.

M&M

NTPC Green Energy files DRHP for proposed IPO of Rs 10,000 cr

NTPC Green Energy (NGEL), a subsidiary of NTPC, has filed a draft red herring prospectus (DRHP) dated 18 September, 2024, with the Securities and Exchange Board of India, BSE and National Stock Exchange of India in respect of its proposed initial public offer (IPO) of equity shares, subject to receipt of requisite approvals, market conditions and other considerations.

NTPC

BSE

Is there a way out for Vodafone Idea after mounting AGR woes? Balaji Subramanian explains

If you add the spectrum payouts also, the number goes up to a much higher number. So, the company has given these numbers. It would be around Rs 27,000-28,000 crores in FY26. And from FY27 onwards, it would be around Rs 41,000-42,000 crores. So, these are pretty big numbers. And a favourable outcome would have reduced these numbers by around Rs 8,000 crores.

SPECTRUM

REC shares drop 4.81% as Sensex rises

A total of 494,040 shares changed hands on the counter till 01:59PM (IST)

RECLTD

BEL shares fall 4.56% as Nifty gains

The stock quoted a 52-week high price of Rs 340.35 and a 52-week low of Rs 127.0.

BEL

Mphasis shares drop 1.48% as Sensex rises

A total of 46,823 shares changed hands on the counter till 01:49PM (IST)

MPHASIS

VCs happy with returns as early backers offload 10% stake in Honasa Consumer: Varun Alagh

According to the bulk deal data available on the National Stock Exchange (NSE), Peak XV Partners sold a 3.81% stake in Honasa Consumer and Fireside Ventures offloaded a 2.03% stake in the company.

HONASA

GAIL shares down 3.69% as Sensex rises

A total of 296,738 shares changed hands on the counter till 01:34PM (IST)

GAIL

Bandhan Bank shares drop 1.54% as Sensex rises

A total of 384,097 shares changed hands on the counter till 01:28PM (IST)

BANDHANBNK

2 top stock recommendations from Rahul Sharma

So, if you speak of macro, we may get into a broad consolidation of 1,000 points where 25,500, 25,600 is the upper end of the spectrum and on the lower side we may head towards 24,500 mark.

SPECTRUM

Share price of Marico rises as Nifty strengthens

A total of 26,347 shares changed hands on the counter till 01:24PM (IST).

MARICO

Video on demand category generated $1.04 billion in revenues during H1 2024

The premium video-on-demand market in India saw a significant rise in the first half of 2024, generating $1.04 billion in revenues. Local content, especially live sports and dramas, drove engagement. Jio Cinema, Netflix, and Disney+ Hotstar led the revenue charts, with cricket events like IPL and ICC World Cup boosting viewership.

IPL

Bharat Forge shares fall 0.74% as Nifty gains

A total of 15,434 shares changed hands on the counter till time (IST).

BHARATFORG

Havells India shares up 0.02% as Nifty gains

A total of 16,842 shares changed hands on the counter till 01:13PM (IST).

HAVELLS

ONGC share price: 5 key reasons why Jefferies expects more than 40% upside for the stock after 15% correction in a month

Stock Market Today: ONGC share price has corrected more than 15% in i month. While declining crude price in sentimentally negative, the removal of windfall tax may be a key positive. Here are 5 key reasons why Jefferies expects more than 40% upside for the stock

ONGC

Ashok Leyland shares rise 0.52% as Nifty gains

The stock quoted a 52-week high price of Rs 264.7 and a 52-week low of Rs 157.65.

ASHOKLEY

VIP Industries distances itself from controversial video; stocks trade flat

VIP Industries rejects ‘false and divisive content in fake ad’

VIPIND

SC rejects telecom firms' pleas in AGR case; Vi shares plunge 10%

The rejection of the final legal remedy leaves Vodafone Idea with limited options, worsening its financial struggles amid fierce competition and heavy debt

SRF shares decline 0.04% as Sensex climbs

A total of 42,545 shares changed hands on the counter till 12:42PM (IST)

SRF

Indus Towers shares fall 13% after SC rejects re-computation in AGR case

Indus Towers Share Price: Indus Towers' shares dropped 10% to their day's low of Rs 366.30 on the BSE after the Supreme Court upheld its ruling on the Adjusted Gross Revenue (AGR) case, rejecting telecom companies' requests for a re-computation and affirming the full AGR demand.

INDUSTOWER

BSE

Colgate-Palmolive shares drop 0.35% as Sensex rises

A total of 1,411 shares changed hands on the counter till 12:38PM (IST)

COLPAL

Ambuja Cements shares drop 3.04% as Sensex rises

On the technical charts, the RSI of the stock stood at 33.8.

AMBUJACEM

Pidilite Ind shares gain 0.04% as Sensex rises

A total of 1,404 shares changed hands on the counter till 12:06PM (IST)

Companies News Today Live Updates on September 19, 2024: 'Aap bhi ab...': Shark Tank's Anupam Mittal reacts to Indigo CEO Pieter Elbers' comment on living in India

Companies News Today Live Updates: Get the latest updates on the company's financial performance, strategic acquisitions, and market shifts. Explore detailed insights on mergers, acquisitions, financial results, and leadership changes that are shaping the business landscape across industries.

INDIGO

MITTAL

Vodafone Idea shares tank 10% after SC rejects AGR plea; Airtel pares gains

Vodafone Idea share price plunged 10 per cent to Rs 11.61 per share on the National Stock Exchange (NSE) on Thursday

Tilaknagar Industries invests ₹8 cr in cocktail mixer brand Bartisans; stock leaps

Combination of primary investment and secondary acquisition for 36.17 per cent stake

Vedanta shares decline 2.34% as Sensex climbs

A total of 134,459 shares changed hands on the counter till 11:47AM (IST)

VEDL

Cummins India shares fall 2.87% as Nifty gains

The stock quoted a 52-week high price of Rs 4169.5 and a 52-week low of Rs 1590.3.

CUMMINSIND

DCX Systems bags Rs 155-cr order from Israeli defence co; stock rises 5%

DCX Systems received export orders worth Rs 154.8 crore from Elta Systems

DCXINDIA

WORTH

Hemang Jani on 3 liquor stocks to bet on for long term

So, on an overall basis, very positive outlook on the spirits companies per se. I think United Spirits, Radico Khaitan, United Breweries, all should be part of the long-term investment portfolio.

Crompton Greaves shares down 0.15% as Nifty gains

A total of 8,901 shares changed hands on the counter till 11:36AM (IST).

CROMPTON

DLF shares down 1.44% as Nifty gains

A total of 27,920 shares changed hands on the counter till 11:26AM (IST).

DLF