In August, CRISIL upgraded the rating on Tier-II bonds (under Basel III) and Infrastructure Bonds of YES Bank to 'CRISIL A-' from 'CRISIL BBB+' and revised its outlook to 'Positive' from 'Stable'
The PSU Bank index has rallied 31 per cent as against a 16 per cent surge in the benchmark from June lows; Among stocks, Bank of Baroda, Indian Bank and Union Bank of India can rally up to 16%.
ICICI Bank now joined the elite club of companies having market capitalisation (market-cap) of over Rs 6 trillion
The bank's NII grew by 26 per cent YoY, and the asset quality also improved considerably.
Barring Federal Bank, other mid-cap banks like RBL Bank, IndusInd Bank, AU Small Finance Bank and IDFC First Bank are yet to conquer their crucial resistances
Shares of Federal Bank hit a three-year high at Rs 109.40, and have gained 12 per cent in the last four trading sessions on the back of healthy Q1 performance.
State-owned lenders, which hold large quantities if G-Secs, to face brunt of yield spike
Bank of Baroda, Canara Bank, and State Bank of India may see even better returns as they have also broken out of "Double Bottom" pattern
Stocks to Watch Today: Among airline shares, SpiceJet has reported seven aircraft related incidents in the last two months; while IndiGo said has hired over 1,500 cabin crew staff to counter likely at
As of 10:09 am, the S&P BSE Private Bank and Nifty Private Bank index were down 1 per cent each, as compared to 0.6 per cent decline on the benchmarks, S&P BSE Sensex and Nifty50 index.
State Bank of India is the only stock that has bucked the trend. The stock has amplified investors' wealth by 250 per cent in the last five years and 550 per cent in the twelve-year period
Direct impact of rising interest rates might already be discounted by the markets, but secondary impact is not yet fully priced in, says Varun Lohchab, head of institutional research, HDFC Securities
Inflation rate has caused a stir throughout global markets leading to extended selloff of stocks and government bonds
Higher interest rate, though, should help improve short-term margins and spread
The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth.
Stocks to Watch Today: Banks and rate sensitive related shares are likely to be in focus today as RBI announces the outcome of its three-day policy meet this morning.
Stocks to Watch today: Tata Motors signed the biggest-ever EV fleet order in India with the largest fully-electric ride-hailing service firm - BluSmart Mobility for delivering 10,000 Xpres-T EVs.
In Q4FY22, the bank's standalone net profit dropped 66 per cent YoY to Rs 201 crore as the bank set aside Rs Rs 325 crore on account of a fraud.
At 02:27 PM: Nifty Bank, Nifty Financial Services, Nifty PSU Bank, Nifty Auto and Nifty Auto index were down between 1.3 per cent and 2 per cent on the NSE.
TCS is likely to announce results after market hours on Monday. The IT stocks will be in focus with Infosys too to announce earnings later this week.