The market is likely to remain volatile amid escalating geopolitical tensions. However, the long-term structural story remains intact and investors should use dips to buy into quality stocks.
Non-core assets are investments made by banks that are not related to core areas of lending and borrowing, and includes strategic investments in other firms, real estate, holdings in subsidiaries and joint ventures.
IDBI Bank,business,$40M Debt In Techno Electric Arm,"The rating downgrade takes into account the bank's substantially weak operating and financial performance during fourth quarter of fiscal 2017 and in fiscal 2017 overall, which has resulted in a significant erosion of its capital (CET-I)," Icra said in a note.
IDBI Bank has initiated the process of scouting for a buyer to sell its mutual fund business, indicating further consolidation in the Rs 19-lakh crore mutual fund industry
Bajaj Auto | Laurus Labs | M&M | Bhushan Steel | SPARC | Deccan Cement are stocks, which are in news today.
IDBI Bank’s net loss widened to Rs 3200 crore in Q4 of FY17 following a substantial surge in non-performing assets (NPAs) to nearly double from the year-ago period.
Tata Steel | Golden Tobacco | JSW Steel | Edelweiss | Emami Paper | Shree Cement | Dishman Pharma | IRB Infra | Lupin | Umang Dairies | Future Enterprise | Ganesh Ecosphere and Capital First are stocks, which are in news today.
Mitessh Thakkar of mitesshthakkar.com recommends buying IDBI Bank, Britannia Industries, Cadila Healthcare, Chennai Petro and BGR Energy.
"The reduction in MCLR is expected to positively impact loan growth, thereby supporting the growth impulses in the economy," a bank statement said.
The Enforcement Directorate (ED) and Central Board of Investigation (CBI) have unearthed these companies - around the globe including Singapore and London - used to divert loan money from the country.
Mitessh Thakkar of miteshthacker.com is of the view that one can buy IDBI Bank and CG Power.
Mitessh Thakkar of miteshthacker.com suggests buying IDBI Bank, Bank of India, Union Bank on minor intraday dips. "One can also buy Avenue Supermarts," he adds.
Mitessh Thakkar of mitesshthakkar.com is of the view that one can buy SBI, IDBI Bank, Corporation Bank and IRB Infra and can sell Ujjivan Financial Services.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Godrej Industries and Bharat Forge and short IDBI Bank.
Liquor baron Vijay Mallya received a major blow from the Karnataka High Court yesterday when it ordered winding up of the United Breweries Holdings Limited (UBHL), the holding company of UB Group for recovery of defunct Kingfisher Airlines losses owed to consortium of bank led by State Bank of India.
In an interview with CNBC-TV18, P Sitaram, CFO of IDBI Bank shared his outlook on the new prompt corrective action (PCA) guidelines.
The employees and officers of IDBI Bank were slated to observe all-India strike on Wednesday demanding a wage revision.
"It is advised that proposed one-day nationwide strike on April 12, 2017 by united forum of IDBI officers and employees in support of their demands has been called off," IDBI Bank said in a BSE filing.
The bank has received strike notice from United Forum of IDBI Officers and Employees in support of their demand, IDBI Bank said in a filing to the BSE.
State-owned IDBI Bank has lowered interest rates on retail term deposits by 0.5 per cent for maturity between 31 days to up to 2 years. The new rates on these deposits range from 4.50 per cent to 6.40 per cent.
NPA-laden public sector lender IDBI Bank today said Mahesh Kumar Jain assumed charge as its new managing director and chief executive.
Bharti Airtel | Yes Bank | Tata Power | Siemens | Prestige Estates | Majesco | Usher Agro | Bhushan Steel | IDBI Bank | Reliance Communications | NHPC | Ujaas Energy | Union Bank of India and Amara Raja Batteries are stocks, which are in the news today.
Sources said these lenders were on the RBI's radar as their financial health may not improve after the central bank's asset quality review (AQR) comes to an end on March 31.
Government official told CNBC-TV18 that the finance ministry has allocated around Rs 8,000 crore in last tranche of bank recapitalisation for current financial year.