[ad_1] New Delhi: The private sector lender, which has underperformed Nifty Bank in the last two years, could grow up to 26 per cent in the next one year and also have a market capitalization of $100 billion in the next four years, said a foreign brokerage firm. Goldman Sachs said in a report. “we believe May join the ranks of banks with USD 100 billion in market cap by FY27E as all factors to deliver sustainable and strong volume and operating profit growth in this cycle as it puts…
Tag: bank
ITC Stock: Big movers on D-ST: What should investors do with Jamna Auto, IDFC First Bank and ITC?
[ad_1] Supported by positive global cues, the Indian market on Monday broke its three-day losing streak. The S&P BSE Sensex rose over 300 points, while the Nifty 50 closed above the 15,800 level. Sector wise, buying was witnessed in FMCG, banks, capital goods and consumer durables, while selling pressure was witnessed in metal, energy, oil & gas and IT stocks. The stocks that were in focus included names like Which rose over 4 percent, rose over 5 percent, and hit a 52-week high and closed with a gain of nearly…
Small Finance Bank: Will bearish market conditions prove to be a hindrance to AU SFB’s solid journey?
[ad_1] The lending base of small finance banks and private banks differ significantly. The Reserve Bank of India (RBI) has limited the amount that SFBs can lend; Private banks have no such restriction. essence AU Small Finance Bank, Ujjivan Small Finance Bank, Equitas Small Finance Bank and Suryodaya Small Finance Bank are the four small finance banks (SFBs) that are listed on stock exchanges in India. Some players are facing internal governance challenges, and some have been badly hit by the pandemic. AU Small Finance Bank is one of those…
AU Bank Share Price: CS launches coverage on AU Bank; CLSA slowdown on Maruti Suzuki
[ad_1] New Delhi: With increasing volatility in the domestic equity markets, global brokerage firms have turned negative on select underperformers of Dalal Street. Credit Suisse launches coverage With a target price of Rs 510, which is 18 per cent lower than the previous close of Rs 621.90. The stock is trading at 3.2x FY24E P/BV, it said. The forex broker expects growth to be moderate from historical levels. “Increased operating expenses will keep ROA at 1.7 percent and ROE at around 17 percent, which is similar to large banks as…
IndusInd Bank Share: Chart Check: IndusInd Bank forms a Head and Shoulders pattern; Less than target of Rs 650 in 1-2 months: Kapil Shah
[ad_1] The bank, part of the private sector banking sector, has fallen over 30 per cent from its October 2021 highs and puts the stock in a bear grip and the chart pattern suggests the pressure is likely to continue. The stock with a market capitalization of over Rs 63,000 crore hit a 52-week high of Rs 1241 on 28 October 2021 but failed to sustain the momentum. It closed at Rs 806 on June 24, 2022 which translates to a fall of over 35 per cent. The private sector…
Big movers on D-ST: What should investors do with Nazra, HDFC and HDFC Bank?
[ad_1] The Indian market closed with gains for the second consecutive day on Friday. The S&P BSE Sensex rose over 450 points, while the Nifty 50 closed slightly below the 15,700 level. Buying was seen in telecom, auto, utilities, power and consumer discretionary sectors, while marginal selling was seen in IT stocks. The stocks that were in focus included names like Which increased by more than 19 percent, and that grew a little over 1 percent. Head of Research Santosh Meena suggests what investors should do with these stocks when…
HDFC Bank news: We could potentially add one HDFC Bank every five years, says CEO Jagadeesan
[ad_1] The private lender said on Tuesday that it would soon phase out its payments platform core banking Module to enable minimum payment downtime even when core banking is not available. The bank is also expected to launch additional products and services digital 2.0 includes a new payment platform for its customers and merchants. Addressing shareholders as part of its annual report, Shashidhar Jagadeesan The lender’s managing director said the bank has initiated some strategic initiatives in partnership with new age start-ups for co-creation of new core banking modules. “The…
Apollo: Apollo Global revisits ARC joint venture with ICICI Bank, ‘looking for exit’
[ad_1] US-based private equity giant Apollo Global management is rethinking its asset reconstruction company (arch) after failing to start due to intense competition in the troubled debt space and seeks new avenues to invest in the space through an Alternative Investment Fund (AIF). Five people familiar with Apollo’s plans said the company has decided to invest in distressed assets through its AIF and will seek a buyer of over 90% of its stake in ARC. A person directly aware of the matter said, “Nowadays no fund needs to have an…
Amalgamation Bank – The Economic Times
[ad_1] This refers to your edit ‘India needs new banks’ (ET, March 4). Financial inclusion and financial literacy will be of paramount importance while implementing the UID project as well as reforms to protect the interests of the poor. The modern banking system has lost its personal touch. Even citizens of semi-urban areas shy away from using ATMs. NextGen banking may fail in rural areas. It is true that we need more banks and new ways of thinking, competition will drive away the disabled. ET in the same edition suggested…
SBI Share Price: Likely to rise by over 50%! Should You Buy This PSU Bank?
[ad_1] () shares have fallen more than 20 percent since as recently as February 2022, holding the stock firmly in place. However, the brokerage has maintained its bullish stance and has price targets that indicate a rise of up to 50 per cent for the counter. SBI exited FY22 with 13.9 per cent return on equity (ROE) and 0.67 per cent return on assets, said its latest report.ROA) Growth build-up, GNPA at a decade low, down less than 1 per cent, aided by credit cost and stable margin profile at…