Retail deposits of the private sector major rose by Rs 53,000 crore during the quarter
The National Stock Exchange Nifty50 gained 126 points, or 0.7 per cent, to close at 18,817
An unchanged repo rate may propel rate sensitive stocks to rise up to 15 per cent
SBI, Indian Bank, UCO Bank, Bank of Maharashtra, Punjab & Sind Bank, Canara Bank and Punjab National Bank from the PSU banks were up in the range of 1 - 3 per cent.
The lenders' CASA deposits grew by 11.3% to Rs 8.03 trillion
Merger expected to be completed by this July
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
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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
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Credit cards can be linked to a UPI identity for secure payment transactions
Descending Triangle breakdown on Nifty Bank index may see up to 5% decline
At 11:00 am; Nifty Bank, Nifty Private Bank, Nifty PSU Bank and Nifty Financial Services are trading almost flat, as against 0.58% rise in Nifty 50.
Analysts believe the sell-off in bank stocks is overdone since exposure of Indian banks to Adani group remains contained
Global broking and research firm CLSA said on Thursday, that the Adani Group poses no "significant downside risk" to Indian banks.
The management said the final hearing of NCLT, regarding the merger with HDFC, would take place on January 27, 2023, post which regulatory process will remain to be undertaken.
In the past three months, HDFC Bank (up 13 per cent) and HDFC (up 15 per cent) have outperformed the benchmark S&P BSE Sensex
Analysts expect HDFC Bank's stock to perform gradually until the margin profile revives, and the merger-related overhang eases
Strong growth in net interest income boosts bottomline, provisions fall
Stocks to Watch today: Wipro, after market hours on Friday, reported a consolidated net profit of Rs 3,052 crore for October-December FY23, an increase of 2.8 per cent year-on-year (YoY)