The stock of Bandhan Bank has been underperforming the banking index and is still struggling below the resistance zone of moving averages
Expect PNB, Bandhan Bank and other banks to trade with a negative bias below 200-DMA
Even after seven years of operations, Bandhan's concentration on micro loans remains high
Stress in small business loans triggers action
The RBI's decision will help Bandhan Bank in contributing to nation-building, its MD and CEO Chandra Sekhar Ghosh said
A reversal in stress in microfinance and housing loan segments is crucial to improve sentiment
The bank reported a loss net of Rs 3,009 crore in Q2FY22 on huge provisions of over Rs 4,600 crore for the bad loans and restructured advances
Lender had posted a net profit of Rs 920 crore in the second quarter ended September 2020
Shares of Bandhan Bank closed 2.36 per cent down at Rs 291.50 apiece on BSE.
The stock was quoting lower for the fifth straight day, down 1.6 per cent at Rs 262.60 on the BSE in intra-day trade on Tuesday
Speaking at the sixth foundation day programme of the bank, Ghosh said the bank will also leverage machine learning and artificial intelligence.
Hindalco Industries is planning to invest around Rs 8,000-10,000 crore in Hirakud, Silvassa and Mundra plants
Business Standard brings you the top headlines on Friday
State-owned Container Corporation of India (Concor) reported a 409.67 per cent YoY surge in consolidated net profit to Rs 251.22 crore for the first quarter ended June 30
Bandhan Bank has been trading in a steady downtrend and is facing selling pressure on every rise
The mid- and small-cap indices meanwhile, outperformed and ended over 0.4 per cent higher each
Pidilite Industries announced the appointment of Sudhanshu Vats as the company's deputy managing director
Brokerage firm ICICI Securities opines that this is positive for micro lenders and especially Bandhan Bank as recoveries are now assured by the state
Among individual stocks, a total of 140 of the BSE500 stocks have given negative return so far in CY2021
The stock was trading at its lowest level since October 30, 2020, having corrected 34 per cent from its 52-week high level of Rs 430.25