The move seems to be proposed as over 25,000 flat owners are in a soup for around eight years. The investment will help the complete the unfinished projects.
Ashwani Gujral of ashwanigujral.com suggests exiting IDBI Bank and feels that Capital First may test Rs 1,000.
Last month, IDBI Bank planned to pare 16.25 percent stake in the micro, small and medium enterprises financier but "have already identified a buyer for the remaining 2.54 percent" it owns in SIDBI, according to a source.
A bench comprising Chief Justice Dipak Misra and Justices Amitava Roy and A M Khanwilkar considered the submission of the bank that staying the order of the National Company Law Tribunal (NCLT) in Allahabad had reversed the position and, as a consequence, the company had gone back to defaulting promoters.
Ashwani Gujral of ashwanigujral.com advises buuying BEML, Balrampur Chini and Indian Oil Corporation.
The NPA ratio of 38 banks increased to 10.21 percent in June 2017 from 8.42 percent in June 2016, which is the highest in the last six quarters, according to a data report compiled by Care Ratings.
"IDBI Bank may have been at risk of skipping a coupon payment without the fresh capital, which might have disrupted the domestic AT1 market and made it more difficult for banks to raise the capital needed to meet basel III minimum requirements," the global rating agency said in a report today.
The lender posted a fall of 18 percent in its net interest income at Rs 1,402 crore against Rs 1,706 crore year on year
The buyers, numbering anywhere between 5,000 and 10,000 have been camping outside the company's Sector 128 Noida office since this morning. Most of the buyers want refund of their money.
"The interim resolution professional shall perform all his functions strictly which are contemplated, inter alia, by section 17, 18, 20 and 21 of the code," said Judicial Member H P Chaturvedi in the order.
L&T | ITC | ONGC | Idea | Claris Life | Duke Offshore | Dish TV | Sun Pharma and Nava Bharat Ventures are stocks, which are in news today.
Ruchit Jain of Angel Broking is of the view that one may buy Bharat Financial Inclusion with target of Rs 884.
Manoj Murlidharan of Religare Securities is of the view that one can buy Lupin, Tata Motors and IDBI Bank.
Government is looking at merging some of the 21 public sector banks to create 10-12 banks in the medium term. As part of a three-tier structure, it plans to build at least 3-4 banks of the size of SBI.
In a written reply in Rajya Sabha, Minister of State for Finance Santosh Kumar Gangwar said IDBI Bank had reported a loss of Rs 5,158 crore in the last fiscal, while the amount was Rs 3,417 crore in the case of Indian Overseas Bank.
Rakesh Bansal of RK Global is of the view that one may buy Bharat Forge with a target of Rs 1197.
As of March 31, 2016, the bank had reported gross non- performing assets (NPAs) or bad loans to the tune of Rs 24,875.07 crore, according to the bank's annual report for 2016-17.
In the report, the bank also mentioned that there was a divergence in the bank's provisions for FY16. IDBI had kept aside Rs 10,232 crore in provisions, while the RBI had estimated it to be around Rs 12,292 crore
Mitessh Thakkar of miteshthacker.com suggests buying Chambal Fertiliser and IDBI Bank.
The probe by markets regulator SEBI was into alleged violation of insider trading and share takeover norms.
Melwyn Rego, former chairman of the Bank of India, has been appointed as Managing Director and Chief Executive Officer of the Manipal-based Syndicate Bank.
This week the banking sector focused on the 12 large corporate bad loan accounts identified by RBI to be taken to the National Company Law Tribunal under the Insolvency and Bankruptcy Code.
IDBI Bank, Indian Overseas Bank, UCO Bank and Dena Bank have already come under the PCA initiated by the Reserve Bank, which is a noose-tightening on fresh loan disbursal as well as dividend distribution.
The bank’s non-performing assets (NPAs) now stand at Rs 45,500 crore
Sources have told Moneycontrol that the ED has found discrepancies in the manner in which the loan was sanctioned to Vijay Mallya's Kingfisher Airlines and will include money trail as evidence of wrongdoing in the charge sheet.