CSB Bank is a small sized bank with business concentrated in Kerala (~35% branches) with remaining spread mainly across Tamil Nadu, Andhra, Karnataka, and Maharashtra. CSB Bank has staged a good comeback post capital infusion and change in the ownership with Fairfax becoming single largest shareholder in 2018. Backed by the strong parentage of Farifax group, more than adequate capital, relatively better asset quality and growth in gold loan portfolio, CSB bank delivered return on asset (ROA) around 1.8% and return on equity (ROE) of 17% in FY24.CSB bank has articulated its long-term vision as per which by FY 2030, bank’s loan portfolio will be well diversified with 20% in gold loans, 30% retail, 20% SME and 30% wholesale and other businesses. The bank plans to maintain over 45% of its advances in gold loan product over the near-to-medium term, and hence, most of benefits of gold loans will continue.
Despite short term headwinds, the analysts believe superior growth prospects of India are likely to continue attracting foreign flows in the long run,
Sensex tanked more than 1,000 points to close at 54,303 and Nifty ended at 16,202. All sectoral and broader indices came under pressure with Nifty Bank, IT, Financial Services ending up as the biggest losers.
Benchmark indices ended the session on a positive note with the Sensex gaining 437 points, and the Nifty adding 105 points. Reliance surged over three percent to close at one-month high. The midcap index ended flat while the small-cap index closed with gains of half a percent.
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The OPEC+ meeting on June 2 will be watched out for. Manisha Gupta brings you the details.
Nifty 50 closed above the 20 DMA on Friday and is likely to cross the 16,400 level. Also, know why Santo and CJ are tracking M&M, JSW Steel, Tata Power, TNS Clothing, and Nykaa.
Benchmark indices ended higher for the second consecutive day on May 27. At close, the Sensex was up 632.13 points or 1.17% at 54,884.66, and the Nifty was up 182.30 points or 1.13% at 16,352.50. Here’s the round-up of all the day’s action with Yatin Mota.
Aditya Birla Fashion and Retail posted a decent March 2022 quarter performance. The company will scale up its core brand business and is targeting multi-fold growth in new businesses of innerwear and ethnic. Watch the video to know why Moneycontrol Pro has a positive stance on the stock.
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India's price monitoring committee will meet and hold discussions on major food products after the government banned wheat exports. As per sources, non-basmati rice exports might also be restricted. Will this lead to a rise in the prices of rice? Manisha Gupta brings you the details
Indian equity benchmark ended lower for the third consecutive day today, pulled down by a selloff in information technology, metal and realty names. At close, the Sensex was down 303.35 points, or 0.56 percent, at 53,749.26, and the Nifty was down 99.40 points, or 0.62 percent, at 16,025.80. Here's a wrap of today's market action with Yatin Mota.
Global sugar prices have gained over 20 percent while sugar prices in India surged nearly 6 percent in the past year. India has now put sugar exports in the restrictive category from June 1 and restricted sugar exports at 100 lakh tonnes. Is the Indian government doing enough to fight food inflation? Let's find out with Manisha Gupta and Karunya Rao.
Markets ended on a negative note today with the Nifty ending below 16,150 points and Sensex falling 236 points. Among sectors, IT, pharma, metal, FMCG, power, and realty indices fell 1 percent each. Meanwhile, Delhivery's stock listed with 10 percent gains.
Indian benchmark indices came off earlier highs and ended on a negative note after traders booked profits during the last hour of trade. JSW Steel, Tata Steel, NMDC were among top losers on announcement of increased export duty by the government. #bajargupshup #marketswithmc