Equity gauges slump in 5 days, traders poorer
... about how the global economies would attain growth amid the aggressive tightening. On Thursday, all components of the trade including Nestle India , were lower, led by Tata Steel , Tech Mahindra, Bharti Airtel, Wipro, IndusInd Bank, Bajaj Finance, Kotak Mahindra Bank and NTPC . The BSE smallcap gauge fell 2.87 per cent in the broader market and the midcap index fell by 2.34 per cent. As many as 2,754 stocks declined, while 620 advanced and 100 remained unchanged. Foreign institutional investors ...
Updated: 06/17/2022
Ashneer Grover, former BharatPe CEO, looks to return to business
... Today I turn 40 . Some people say I've lived a full life and experienced more than most. It created value for generations. It's still unfinished business for me. It's time for the third unicorn! Grover was in the news after his public dispute with Kotak Mahindra Group . An audio clip allegedly showing the former BharatPe CEO and family member talking to a Kotak Group employee for not getting an allotment in Nykaa 's initial public offering IPO went viral. Grover sent a legal notice to Kotak ...
Updated: 06/16/2022
Sensex rises 74 points to 52,767, Nifty falls 75 points
... bps in the rest of FY 2023, including 35 bps hike in August policy and a 50 bps hike by end-FY 2023. After a sharp decline, the Nifty is consolidating in the range of 15,700 -- 15,850, according to Shrikant Chouhan , head of Equity Research Retail Kotak Securities Ltd . The short-term formation is still on the weak side. We think that if the index falls below the level of 15,700, it could hit 15,600 -- 15,550 levels. On the flip side, 15,850 would act as an immediate hurdle for the bulls above ...
Updated: 06/15/2022
LIC, Softbank-backed logistics major attract Rs 4,056 crore in May
...,400 crore last month, even as overseas investors sold shares worth Rs 42,900 crore. HDFC Bank , Reliance Industries and ICICI Bank were the other counters that saw substantial MF investments. The new outflows from domestic funds were seen by the Kotak Mahindra Bank , SAIla nd UPL . Business Standard has always been trying to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world....
Updated: 06/15/2022
Sensex tanks 427 points, Nifty ends 452 points lower
... pts lower at 38,494. IT, consumer durables and capital goods indices fell 1,156, 745 and 743 points, respectively. The Bank Nifty fell 1,078 points to 33,405. On Friday, Sensex fell by 1,016 points to 54,303 and Nifty dropped 276 points to 16,201. Kotak Bank was the top Sensex loser, falling about 4 per cent, followed by Bajaj Finance, HDFC twins, Reliance Industries, Wipro , Infosys, Tech Mahindra , Tata Steel and TCS . Asian Paints, UltraTech Cement, Dr Reddy's, Titan, and IndusInd Bank ...
Updated: 06/13/2022
LIC shares trade 5.47% lower as IPO lock-in ends
...,853 equity shares was subscribed at Rs 949 per equity share. Domestic insurance companies and pension funds had participated in the anchor issue. Some prominent names in this category included ICICI Prudential Life Insurance, SBI Life Insurance , Kotak Mahindra Life Insurance , PNB Metlife Insurance, SBI Pension Fund and UTI Retirement Solutions Pension Fund Scheme . Foreign participation included the Government of Singapore , Monetary Authority of Singapore , Government Pension Fund Global ...
Updated: 06/13/2022
Indian rupee, stocks tumble as global risk-off sentiment weighs
... central bank has over 600 billion of foreign-exchange reserves that it is deploying to curb any sharp fluctuations in the currency. It's natural for emerging-market currencies to weaken during risk off, said Churchil Bhatt , executive vice president at Kotak Mahindra Life Insurance Co. The rupee may move in line with its Asian peers, despite the fact that the Reserve Bank of India has sufficient reserves to manage any excess volatility. We expect the rupee to exhibit a near-term bias towards orderly ...
Updated: 06/13/2022
RBL Bank's stock price hits new record low after RBI approves R Subramaniakumar's appointment as MD
... administrator of Dewan Housing Finance Co Ltd after the mortgage financier's board was overruled. The bank's reliance on high yielding product segments, employee retention, and recovery in return ratios and growth are not clear, according to analysts at Kotak Institutional Equities. We need to have a clarity 1 construction of the loan mix. The credit card and MFI business is the key profit pool of the bank. Any changes to this model would hurt the near term prospects on growth and profitability. Since ...
Updated: 06/13/2022
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