The crucial support for Nifty is placed at 11,100 while on the upside, the index is likely to find tough resistance around 11300
For the entire 2018-19, the bank reported a net loss of Rs 2,922.35 crore on a consolidated basis, as against Rs 5,212.47 crore loss in 2017-18.
In the BSE Smallcap index, 60 percent of total 750 stocks were in the positive return on closing of April 16 and of which top 45 stocks rallied between 50-195 percent.
Bank of India has a 28.96 percent stake in the joint venture, while Union Bank of India and Dai-ichi Life owns 25.10 percent and 45.94 percent, respectively.
According to the Securities and Exchange Board of India (Sebi), there will be no change in control of the bank pursuant to the proposed acquisition.
The lender has reduced its one year MCLR or the minimum lending rate, against which most of the consumer loans are benchmarked, to 8.60 percent from 8.70 percent earlier.
Credit Suisse maintained its underperform rating on Lupin with a target price of Rs 800 while CLSA maintained its sell rating on Ashok Leyland and slashed its target price to Rs 75 from Rs 85 earlier.
Global brokerage house Nomura said bank's core pre-provision operating profit (PPOP) continued to lag peers and core PPOP/assets will unlikely improve materially from 1.4 percent level
Provisions and contingencies halved to Rs 1,617.1 crore for the quarter ended December 2018 against Rs 3,254.4 crore in same period last year, and also declined 2.3 percent sequentially.
On January 2, Syndicate Bank had said it would raise up to Rs 500 crore by issuing shares to its employees under the employee stock purchase scheme.
The company has negligible market share in the 24-player industry dominated by the national insurer LIC.
Top Indian companies have been reluctant to announce new projects over the past few years due to low capacity utilisation
The bank proposes to raise capital through issuance of shares worth up to Rs 600 crore in one or more tranches to its employees under Employee Share Purchase Scheme (ESPS), it said.
Midcap and smallcap indices gained 7.3 percent and 6.3 percent, respectively.
Goel takes over from R K Takkar who completed his three-year tenure on November 1, 2018.
"The board of directors of the bank... has approved raising of equity capital, in one or more tranches, for an amount not exceeding Rs 3,000 crore by way of preferential allotment of equity shares," it said in a regulatory filing.
Earlier this month, SBI said they have room to buy a total of Rs 45,000 crore, from Rs 20,000- Rs 30,000 crore more than the initial estimate of buying Rs 15,000 crore worth of portfolios
Slippages dropped to Rs 2,667 crore in September quarter against Rs 4,652 crore in June quarter, Union Bank said, adding write-offs increased to Rs 1,868 crore against Rs 1,426 crore QoQ.
The bank is demanding Modi – who owns a chain of jewellery shops from Hong Kong to New York -- pay more than USD 5.49 million plus interest, after both firms allegedly defaulted on repayments, the report said.
The case, which was being probed by the Mumbai Police, pertains to transfer of about Rs 1,200 crore from the Nostro account of the bank to various countries on July 20, 2016, they said.
RBI had issued a show cause notice to the bank on January 15, 2018 asking why a penalty not be imposed on Union Bank of India under the Act.
The total exposure of the bank in the power sector is about Rs 6,000 crore, the official said, adding that Rs 2,000 crore recovery is expected from resolution soon.