Analysts said if gross non-performing assets come below 6 percent and net interest margin above 3.5 percent (against 3.45 percent in Q2FY18) then that could be taken positively by the Street.
According to Amit Gupta of ICICIdirect, one can buy Axis Bank, SBI, V-Guard Industries, UPL and Adani Ports.
The market breadth was in favour of the advances on Thursday morning with 1158 stocks advancing as against 445 declines while 405 remained unchanged. On the other hand, 1531 stocks advanced and 664 stocks declined while 81 remained unchanged on the BSE.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Yes Bank, Tata Elxsi and Sun Pharmaceutical Industries and can sell Mahanagar Gas and Berger Paints.
The move to increase the marginal cost of funds based lending rate (MCLR) comes days after the nation's largest lender SBI had lowered its rates under the older base rate system by a steep 30 bps.
Rajat Bose of rajatkbose.com suggests buying Axis Bank, Asian Paints and Just Dial..
Previously, the bank had held initial discussions with Max Life Insurance but the deal got stuck over valuation issues.
The market breadth was in favour of the declines on Tuesday morning with 780 stocks advancing as against 844 declines while 378 remained unchanged. On the other hand, 1222 stocks advanced and 1149 stocks declined while 76 remained unchanged on the BSE.
A series of raids by India's market regulator, investigating whether corporate announcements were prematurely leaked by market participants in social media chatrooms, was the largest it has conducted.
Sebi began a probe last month after a media report surfaced with respect to the circulation of UPSI in various private WhatsApp groups
Given the sentiment and the global bull market, a 10 percent upside with a lot of volatility is on the cards in 2018, said Sanjiv Bhasin of IIFL.
Earlier this week, about 40 people who used a Kotak Mahindra Bank ATM in Mulund (East), lost a total of around Rs 14.80 lakh fraudulently withdrawn from their bank accounts in three days from Sunday to Monday.
The brokerage said that the re-rating on stock was warranted in valuations.
The chaiwallah stayed back in the washroom of an Axis Bank branch in Mumbai after closing hours, in a bid to rob the bank at night.
Big deals are getting announced every week and this time it was the big deal coming in from the house of Axis Bank. In an interview with CNBC-TV18, Akshay Chudasama, Managing Partner at Shardul Amarchand Mangaldas discussed the overall mergers and acquisitions (M&A) trend and how it is shaping up for the next year as well.
Being a no. 1 bank or no.2 bank is not the big driver – the big driver is – to see that we have a great franchise, have enough growth opportunities and create value for our shareholders, said Shikha Sharma, MD & CEO, Axis Bank.
The board of Axis Bank on Friday approved stake sale to private equity player Bain Capital and other investors in its bid to raise capital by issue of equity linked securities on a preferential basis.
Axis Bank had informed the exchange earlier this week that it will hold board meeting on Friday for approval of fund raising.
The bank did not mention any details related to amount which it wants to raise.
Reports in the Indian media have said the bank was looking to raise as much as USD 1 billion from a group of investors after an increase in bad loans. The reports have named U.S. buyout group Bain Capital, Singapore state investor GIC and Canada Pension Plan Investment Board among potential investors.
As per the latest numbers, ICICI Bank had 83,058 employees as of September 30, 2017. This number as on June 2017 stood at 84,140 employees.
Private sector banks reported cumulative divergences of Rs 12,000 crore after the RBI asked to make disclosures in classifying select accounts as NPAs, which earlier were not classified by the bank.
Top investment banking sources tell CNBC-TV18 that Bain Capital and others in talks to pick up 5 percent equity stake in Axis Bank.
YES BANK - bad loans have surged as Q2 shows a significant divergence from the Reserve Bank of India’s (RBI) assessment to the tune of over Rs 6,300 crore. In an interview to CNBC-TV18, Siddharth Purohit of SMC Institutional Equities shared his views and outlook on the YES BANK’s Q2 numbers.
This is the second time that the RBI, in its annual risk-based supervision, has observed divergences in both the banks’ NPA reporting.