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…
Mumbai: The National Asset Reconstruction Company (NARCL) has acquired the debt of distressed leisure and retail complex, Entertainment City, after Punjab National Bank (PNB) accepted its ₹711-crore offer, according to sources, ending a year-long attempt by lenders to find a higher bidder. Noida-based Entertainment City has outstanding debt of about ₹1,000 crore. NARCL’s offer amounts…
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,…
Shares of public sector banks such as State Bank of India, Bank of Baroda, Canara Bank, Punjab National Bank, Indian Bank among others gained up to 3.3% after a Reuters report stated that India is planning to allow direct foreign investment in state-run banks of up to 49%, more than double current limits. The finance…
Shares of Punjab National Bank (PNB) climbed 1.7% to touch the day’s high of Rs 115.7 on the BSE on Monday, following the public sector lender’s announcement of a 14% year-on-year (YoY) increase in its profit after tax (PAT) for the quarter ended September 30, 2025. The PAT stood at Rs 4,904 crore, up from…
In today’s time, saving your money and helping it grow is one of the best financial decisions you can make, as these will give you long term benefits, it doesn’t matter whether you are a senior citizen or part of the general public. Although, senior citizens mostly trust fixed deposits (FD) as it gives them…