Banking Shares

Analysts expect the underperformance in bank stocks to continue ahead as the current fears around the banking sector globally are likely to persist for some time

The sell-off in the banking pack, analysts said, was a knee-jerk reaction to the developments with US-based Silicon Valley Bank (SVB) that announced a share sale to shore up its finances

Adding to SVB's woes, venture capitalists including Peter Thiel's Founders Fund urged portfolio businesses to limit their exposure to the firm

NSE Nifty50's sharp rebound from its 200-day moving average of 17,400 is what is giving technical analysts the requisite confidence

Benchmark stock indices Sensex and Nifty closed higher for a second straight day on Tuesday on gains in banking, IT and metal shares following a firm trend in the global markets. The 30-share BSE Sensex jumped 361.01 points or 0.60 per cent to settle at 60,927.43. During the day, it rallied 420.26 points or 0.69 per cent to 60,986.68. The broader NSE Nifty climbed 117.70 points or 0.65 per cent to end at 18,132.30. From the Sensex pack, Tata Steel, Tata Motors, Larsen & Toubro, Asian Paints, Wipro, Bajaj Finance, ICICI Bank, Tech Mahindra and Titan were the major winners. Hindustan Unilever, ITC, Mahindra & Mahindra and Nestle were the laggards. "With strong support from global peers, the domestic market is attempting to recoup its previous week's losses. Metal stocks shone amid hopes of a demand revival in China on reports of loosening COVID restrictions. This, along with fears over supply disruptions from winter storms in the US, resulted in oil prices rising," said Vinod ...

Both stocks were the biggest gainers in both the Sensex and Nifty indices and accounted for nearly half of the gains made by these indices

Here's how key constituents of the Nifty Bank index look on the charts.

Should see 18-20% credit growth in FY23 says Sumant Kathpalia, MD & CEO, IndusInd Bank

Key stock indices Sensex and Nifty declined over half a per cent on Thursday due to selling in financials, auto and realty shares after five-month high inflation fanned rate hike fears. A weak rupee and rising crude prices also impacted the market sentiment, traders said. The 30-share BSE Sensex declined 390.58 points or 0.68 per cent to settle at 57,235.33. The broader NSE Nifty fell 109.25 points or 0.64 per cent to end at 17,014.35. Wipro was the top loser in the Sensex pack, shedding 7.03 per cent, followed by SBI, L&T, ICICI Bank, Asian Paints, Bajaj Finance and HDFC twins. On the other hand, HCL Tech, Sun Pharma, Dr Reddy's Reliance Industries and Ultra Tech Cement were among the gainers, rising up to 3.19 per cent. Vinod Nair, Head of Research at Geojit Financial Services, "Retail inflation persisting above the desired levels has been a major cause of concern for the Indian economy. This, coupled with declining industrial production in August may not be taken well by the ..

The department will also take stock of the banks' asset quality, and focus on large bad loans, implementation of the Centre's various schemes, and the lenders' plan to raise capital

The bank's share closed at Rs 179.05 a piece on BSE, down 4.7% from its previous close while the broader Sensex was down 1.46%

SBI card shares of the lender were trading 4.2 per cent higher than the previous day's close at Rs 926.1

According to analysts, Axis' earnings beat was led by NIM expansion, and credit cost being restricted at less than 20 bps

Sequentially, its net profit rose 21.4%; lender's treasury income rises despite hardening yields

Axis Bank Q1 Results: In FY22, the bank doubled its net profit to Rs 13,025 crore. The operating profit of the bank grew by 13 per cent YOY & 5 per cent QOQ, in Q4FY22

Analysts expect loan growth to be at 20 per cent YoY at Rs 887,600 crore, up from Rs 738,600 crore last year

This is being termed the single-largest bad loan deal

Will the RBI step in again to the rescue of the banks and ensure smooth sailing of the government's record borrowing plan this year?

The payout will make a small dent in lender's capital adequacy ratio; stock sheds 3.73% on BSE

Punjab & Sind Bank on Thursday reported an over two-fold jump in net profit at Rs 346 crore for the quarter ended March 2022, helped by a decline in bad loans. The state-owned lender had posted a net profit of Rs 160.79 crore in the same quarter of the preceding fiscal year. Total income during the quarter increased to Rs 2,007.90 crore as against Rs 1,940.62 crore in Q4 FY21, the bank said in a statement. Gross bad loans or non performing assets (NPAs) of the bank came down to 12.17 per cent of gross advances as of March 31, 2022, from 13.76 per cent by end of March 2021. In value terms, gross NPAs declined to Rs 8,565 crore by the end of FY22 as against Rs 9,334 crore a year ago. Net NPAs almost halved to 2.74 per cent (Rs 1,742.27 crore) from 4.04 per cent (Rs 2,461.95 crore) a year ago. Bank's provisions for bad loans fell down significantly to Rs 866 crore in the quarter from Rs 1,993 crore in the year-ago period. Punjab & Sind Bank's MD and CEO S Krishnan said the bank ..