Mumbai: Bank Nifty crossed the 59,000-mark for the first time and closed at a record high on Wednesday, as investor optimism in banking stocks strengthened on expectations that earnings pressure from the interest rate cut cycle has bottomed out and valuations remain relatively modest compared to other sectors. The index ended 0.5% higher at an…
As the banking sector rally continues, market participants are debating whether public sector banks (PSBs) have caught up with their private sector counterparts in valuations. Market expert Rahul Arora weighed in, highlighting opportunities and caution in equal measure. When asked why his focus remains primarily on SBI despite the broader PSB universe being attractively valued,…
Mumbai: The Indian rupee’s amplitude has narrowed to a maximum of 60 paise against the dollar over the past two months, after the local currency had earlier traded in a rather broad range. Analysts attribute the tight operating corridor to more frequent central bank interventions, which have prevented the rupee from breaching the record low…
Mumbai: Warburg Pincus is in advanced talks with multiple investors to sell its 26% stake in IndiaFirst Life Insurance, valuing the Mumbai-based insurer at about ₹10,000 crore, people familiar with the matter told ET. The private equity firm has approached more than a dozen potential buyers, including global strategic investors and private equity funds, as…
Mumbai: Public sector banks were among the top gainers in Monday’s trading, as their strong earnings show in the September quarter kept the momentum alive in what has been one of the most resilient themes in the past six months. The PSU Bank index rose 1.9% on Monday, against modest gains in the Sensex and…
India’s state-run banks could see a windfall of up to $4 billion in passive inflows if the government raises the foreign institutional investment (FII) limit to 49% from the current 20%, according to a report by Nuvama Institutional Equities. Nuvama’s analysis shows potential MSCI-linked inflows of around $3.98 billion across six major public sector lenders,…