Net Interest Income (NII) is expected to increase by 23.7 percent Y-o-Y (up 4.8 percent Q-o-Q) to Rs. 3,326 crore, according to KR Choksey.
Arvind Fashions, Spacenet Enterprises, Jai Balaji Industries, Info Edge, REC and Bil Energy Systems have hit 52-week high on NSE while Hero Moto, Alkem Laboratories, Igarashi Motors, Lakshmi Energy, Simplex Projects and Genesys International have hit 52-week low.
The top Nifty gainers include IOC, BPCL, ONGC, Zee Entertainment and Coal India while the top losers included Hindalco, JSW Steel, Vedanta, Tata Steel and Kotak Mahindra Bank
A FII buying led rally or a pre-election rally, the market has surprised everyone with its move. But is there still some move left in the rally?
Nifty has strong support at 10850-10900 levels, says Vikas Jain, Senior Research Analyst at Reliance Securities.
The breadth of the market favoured the declines with 419 stocks advancing and 1229 declining while 406 remained unchanged. On the BSE, 696 stocks advanced, 1555 declined and 129 remained unchanged.
A poll by Sharekhan had estimated the private sector bank's net profit to be 18 percent higher than in the same quarter last year.
Net interest income is expected to rise 18 percent at Rs 2,543.5 crore
Banking is core part of the Indian economy and earnings from the sector must benefit Indian savers than move out to the foreigners, Kotak's joint managing director said
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about 40 people who used a Kotak Mahindra Bank ATM in Mulund (East), lost a total of around Rs 14.80 lakh fraudulently withdrawn from their bank accounts in three days from Sunday to Monday.
From interest rate reduction on home loans to being charged for ATM withdrawal for wallet and no-frills account users to capital raising and merger talk of banks and some smaller public sector bank results where bad loans continued to grow, all happened in the second week of May.
You may soon see your bank getting smaller in size and lesser in sight as the need for physical presence of banks is reducing gradually.
From FY2017 onwards banks will need to provide new disclosures where the shortfall in provisions as per RBI norms exceeds 15% of the reported net income and/or there is 15% difference between the reported gross NPAs and RBI-assessed gross NPAs.
After a see-saw ride for weeks in the Indian market, the bulls have finally gained dominance on the turf as benchmark indices Nifty and Sensex gain momentum and are again flirting with their respective record highs.
A top fund manager was quoted as saying that the largest consolidation in the banking sector is being explored by the shareholders of the two banks, according to a report in The Times of India.
Fresh bad loans moderated in the first quarter of 2016-17 as most banks have improved their recovery process, Reserve Bank Deputy Governor S S Mundra said today.
There are several reasons for this. Banks have to wait for their high cost deposits to mature. Also for the big banks with 40 percent in savings and current accounts, the rate cut has impact only on 60 percent of the deposits.
As many as 10 merchant bankers had made a beeline for managing IOC stake sale and the disinvestment department has shortlisted five from them. Besides Citibank and Nomura, others who have been shortlisted include Deutsche Bank, Kotak Bank and J M Financial, sources said.
FIPB again defers Kotak bank proposal forThe Foreign Investment Promotion Board (FIPB) had taken up the application in its meeting, but the decision was deferred in want of comments from the Department of Financial Services (DFS), sources said. raising FII limit
The inter-governmental panel, chaired by Economic Affairs Secretary, also cleared Blue Dart Express's proposal to acquire shares in Blue Dart Aviation Ltd and hike shareholding to 74 percent from 49 percent. This would entail investment between Rs 52.8 crore to Rs 69 crore.
Uday Kotak Executive VC & MD, Kotak Mahindra Bank expects the bank to see higher ROEs going ahead.
Angel Broking has come out with its report on new bank licensing norms. The research firm says as prima facie criteria suggest that six to eight very serious corporates, with deep-pockets are likely to get a banking license.
Financial stocks like Yes Bank, Indusind Bank, Kotak Bank, Federal Bank and aviation stocks like Jet Airways, SpiceJet will be getting astrological support.
Financials stocks like IFCI, IDBI, IDFC, Indusind Bank, Kotak Bank and auto stocks like Tata Motors, Ashok Leyland, Maruti Suzuki will be getting astrological support says Satish Gupta of Astrostocktips.
Indranil Pan, chief economist at Kotak Mahindra share his views on RBI's credit policy.