These five banks-- HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, IndusInd Bank and Yes Bank--collectively control a quarter of the system and three-fourths of the private banking space, according to a report by India Ratings on Friday.
Kotak further said there will be costs that cannot be borne by businesses or the government, and these will be borne by the financial sector.
During the past week, the 30-share BSE Sensex advanced 850.15 points, or 2.41 percent. Tata Consultancy Services and Reliance Industries emerged as the biggest gainers in terms of market value.
Reliance Industries became the first Indian company to cross the Rs 11 lakh crore market valuation-mark on June 19 after Chairman Mukesh Ambani announced that his oil-to-telecom conglomerate had become net debt-free.
Spare a thought for the small-cap and mid-cap companies.
The research firm has retained its overweight call on the stock with target of Rs 1,475 per share and expects credit cost to be higher in FY21 against last year.
In the ranking of top-10 firms, RIL retained its number one slot, followed by TCS, HDFC Bank, HUL, Airtel, HDFC, Infosys, Kotak Mahindra Bank, ITC and ICICI Bank.
The second highest buyer of shares was Oppenheimer Developing Markets Fund.
Managing Director Uday Kotak sold 5.6 crore equity shares (representing 2.92 percent of total paid-up equity) at Rs 1,240 per share, as per the bulk deals data available on the BSE
Moody's Investors Service on Monday downgraded the country's rating by one notch to 'Baa3', the lowest in the investment grade, with a negative outlook on worries over growth and fiscal risks.
Moneycontrol's Sakshi Batra does a 3-Point Analysis on the development.
The move to sell stake will bring the curtains down on an extended standoff between the regulator and the bank over the reduction in promoter shareholding.
The move will bring the curtains down on an extended standoff between the regulator and the bank over the reduction in promoter shareholding.
Reliance Industries Limited added Rs 21,300.4 crore to its market valuation to stand at Rs 9,28,849.39 crore.
Top mutual funds including Aditya Birla Sun Life MF, SBI MF, HDFC MF and ICICI Prudential MF, also bought shares in the issue
Kotak Mahindra Bank has set a floor price of Rs 1,147.75 per share for the offering. The bank's board had sanctioned the fundraising in April.
Kotak Mahindra Bank has set a floor price of Rs 1,147.75 per share for the offering.
The new interest rates will be applicable from May 25 on balance up to Rs. 1 lakh
Kotak Mahindra Bank through its Debt Capital Markets team will work closely with Franklin Templeton Trustees, to assist with all portfolio actions in these six schemes.
Dolat Capital is bullish on Kotak Mahindra Bank has recommended buy rating on the stock with a target price of Rs 1450 in its research report dated May 14, 2020.
Only Bharti Airtel and ITC from the top-10 list managed to close the week with gains.
Prabhudas Lilladher recommended accumulate rating on Kotak Mahindra Bank with a target price of Rs 1343 in its research report dated May 14, 2020.
Key risk to the thesis is the protracted income loss to household savings, ICICI Securities said.
ICICI Direct is bullish on Kotak Mahindra Bank has recommended buy rating on the stock with a target price of Rs 1600 in its research report dated May 14, 2020.