Page 4 - Sbi

Sensex ends choppy day 170 pts up, Nifty at 17,650; IT stocks lead gains

Closing Bell: Broader markets trailed gains in benchmark indices. The BSE Midcap and Smallcap indices closed up to 0.2 per cent lower

Stocks to Watch: Adani Group, Bajaj Finance, Zomato, Tata Motors, L&T, NMDC

Stocks to watch today: In a 413-page document, Adani retaliated against the American short-seller, saying the document was a "malicious combination of selective misinformation and concealed facts"

Street positive on SBI Cards despite Q3 miss, on strong growth expectations

Analysts believe the company will be able to shift a larger part of the receivable mix towards EMI payments, which should help stabilise NIM

Canara Bank to sell its stake in Russian joint venture to SBI for Rs 114 cr

Canara Bank on Friday said it plans to sell its stake in Russian joint venture Commercial Indo Bank LLC (CIBL) to the other venture partner State Bank of India (SBI) for about Rs 114 crore. CIBL, incorporated in 2003, is a joint venture in Russia between SBI (60 per cent) and Canara Bank (40 per cent). Canara Bank has entered into a share sale agreement in relation to sale of equity shares held by it in Moscow-based CIBL with SBI, the bank said in a regulatory filing. The Bengaluru-based state-owned bank entered into the agreement for sale on November 11, 2022, it said. Based on share sale agreement and with the consent of Central Bank of Russia, entire shares held by Canara Bank have been transferred to SBI on November 30, 2022, it said. "However, consideration in USD as agreed by the parties is not yet received. Expected to complete the transaction on or before March 31, 2023," it said. Canara Bank is expected to receive USD 14.67 million or about Rs 114 crore from SBI for its

Internet connectivity key to India's robust financial inclusion: SBI chief

Khara said that his and other banks have created a robust system of digital banking that help people get access to their banking needs in real time

SBI raises Rs 9,718 cr via second tranche of infrastructure bonds at 7.70%

This is the second fund-raising since early December when it had mopped up Rs 10,000 crore via infra bonds

SBI estimates India's FY23 fiscal deficit at Rs 17.5 trn, FY24 Rs 17.95 trn

Upcoming budget 2023 will be challenging for government to follow the roadmap for fiscal consolidation amidst a global environment of declining inflation, said top economist of State Bank of India

Govt extends tenure of SBI MD Challa Sreenivasulu Setty by 2 years

The government has extended the term of State Bank of India Managing Director Challa Sreenivasulu Setty by two years with effect from January 20

SBI's Rs 10,000-crore infrastructure bond sale likely this week

Infrastructure bonds are securities that are exempt from computation of net demand and time liabilities (NDTL) - a proxy for deposits

No K-shaped recovery in India, pandemic 'leveler' to reduce inequality: SBI

Economists at the country's largest lender SBI on Monday dismissed the 'K-shaped recovery' critique, saying the pandemic was a 'leveler' which helped in reducing inequalities. They said government transfers to the poor alone are adding up to Rs 75,000 per household per annum. It can be noted that in the months following the outbreak of the COVID-19 pandemic, concerns were being raised about deepening inequalities in India, with some calling it as a 'K-shaped' recovery, where rich emerged richer while the poor slipped down further. After analysing data and studies, the SBI economists said, " in hindsight, the pandemic may have been a leveller in terms of inequality with the poor getting protected through measures such as food transfers." It said India has delivered a sharp recovery after the pandemic and acknowledged that critics are still quoting it as a K-shaped recovery for India. " It is true that the strong rise in financial assets resulted in an increase in inequality in 2021

State Bank is changing its business model, quietly

Going beyond corporate loans, SBI is getting into vendor financing as well as supply chain and cluster financing, the buzzwords of banking these days

Vodafone Idea approaches banks for loans worth Rs 7,000 crore: Report

The lenders have, however, sought clarity from the telco on the Government's potential shareholding and its plans to infuse capital in Vi

Promoters unwilling to infuse capital in Vi, govt stake unviable: Report

The promoters are willing to infuse Rs 2,000-3,000 crore but it is too less to revive the company

SBI to raise up to Rs 10,000 crore via infrastructure bonds in Q4 of FY23

UCO Bank mulls AT1 offering to raise Rs 1,000 cr

SBI to issue second tranche of infra bonds to meet credit growth: Report

The funds will come in handy for credit growth, and the bank would not need to maintain any statutory liquidity ratio or cash reserve ratio for funds raised through such bond issuances

SBI, ICICI, HDFC Bank continue to be systemically important banks

Lenders regarded as too big to fail; classification based on data they gave in March 2022

Central banks may reverse rate hikes in 2023 to escape slowdown: SBI

Financial markets in 2022 have remained volatile and edgy with the central banks globally in unison in a rate hike cycle

Mcap of eight of top-10 firms jumps Rs 1.35 trn; SBI, RIL major winners

Eight of the 10 most valued firms together added Rs 1,35,794.06 crore in market valuation last week, with State Bank of India and Reliance Industries Limited emerging as the biggest winners. Last week, the 30-share BSE benchmark climbed 995.45 points or 1.66 per cent. Hindustan Unilever Limited and Bharti Airtel were the laggards from the top-10 pack. The market valuation of State Bank of India jumped Rs 35,029.1 crore to Rs 5,47,257.19 crore. The market capitalisation (mcap) of Reliance Industries climbed Rs 31,568.08 crore to Rs 17,23,979.45 crore. The valuation of Adani Enterprises rallied Rs 24,898.33 crore to Rs 4,39,966.33 crore and that of HDFC Bank advanced Rs 16,535.08 crore to Rs 9,07,505.41 crore. Tata Consultancy Services' (TCS) mcap went higher by Rs 11,690.67 crore to Rs 11,92,576.32 crore and that of ICICI Bank gained Rs 8,221.94 crore to Rs 6,21,588.34 crore. The valuation of Infosys climbed Rs 4,692.01 crore to Rs 6,34,873.16 crore and that of HDFC surged Rs 3,1

SBI, LIC among key govt-run financial institutions set to see new faces

The first quarter of calendar 2023 will see new faces heading four large public-sector banks -- Canara Bank, Bank of Baroda, Indian Overseas Bank, and Bank of India

From SBI to IHCL: 23 stocks brokerages are betting for 2023

So far in calendar year (CY22), frontline indices Nifty50 and the S&P BSE Sensex have climbed around 4 per cent each, as against 10-20 per cent fall in most of the global indices