The US Fed’s potential interest rate cuts may influence the RBI to follow suit by December 2024. This could impact bank stocks, with falling rates affecting margins but boosting credit demand. NBFCs and wholesale-funded banks might benefit more initially, while consumption-focused lenders could see increased credit accessibility.
Posts in category Economic Times
Stock market update: Nifty Bank index advances 0.54% in an upbeat market (20-09-2024)
The Nifty Bank index was trading 0.54 per cent up at 53321.75.
Vodafone Idea shares tumble 24% in 2 days, slip below Rs 10 mark (20-09-2024)
Vodafone Idea shares have dropped 24% in two days, falling below Rs 10 due to the AGR ruling. The Supreme Court upheld the full AGR demand of Rs 70,320 crore. Despite this, Nomura upgraded the stock to ‘buy,’ while UBS suggested a fair value range of Rs 12 to Rs 24.
Avi Ansh Textile IPO opens. Check issue size, price band, GMP and other details (20-09-2024)
Avi Ansh Textile’s SME IPO opens for subscription today and will close on September 24. The company aims to raise Rs 26 crore through a fresh equity issue of 41,93,541 shares at Rs 62 each. The funds will be used for loan repayment, working capital, and general corporate purposes.
Maruti Suzuki India among 3 stocks showing RSI trending up (20-09-2024)
On September 19, three stocks from the large-cap pack appeared in the RSI Trending Up scan, according to the stockedge.com data.
Phoenix Overseas IPO opens. Check issue size, price band, GMP and other details (20-09-2024)
Phoenix Overseas will launch its SME IPO today, aiming to raise Rs 36 crore. The IPO includes fresh equity shares and an offer for sale, with a price band of Rs 61-64 per share. The company is involved in trading and exporting agricultural products and manufacturing fashion accessories. The subscription period runs from September 20 to September 24.
Unstoppable Bulls! Auto, metal stocks power Sensex to fresh peak; Nifty breaches 25,650 mark (20-09-2024)
Domestic benchmarks extended their record run with the Sensex surpassing 84,000 and Nifty breaching 25,650. Metal stocks rallied following a bullish note from Macquarie. IIFL Finance shares surged after RBI lifted restrictions on its gold loan business. Global markets also saw gains, with the Dow closing above 42,000 for the first time.
Northern Arc Capital IPO allotment expected soon: Check status, GMP, listing date and other details (20-09-2024)
Northern Arc is a diversified financial services platform established primarily to address the diverse retail credit needs of under-served households and businesses in India. Its business model spans various offerings, sectors, products, geographies, and borrower categories. As of March 2024, the company has facilitated over Rs 1.73 trillion in financing, reaching more than 10 crore people across India.
IndoStar to sell home finance arm to EQT for Rs 1,750 crore (20-09-2024)
The transaction is not complete yet with pending customary conditions like receipt of RBI approval and consents from lenders and shareholders’ approval. EQT will also invest Rs. 500 crore in the IndoStar Home Finance Company upon or shortly after closing of this transaction and the board of IHFPL has granted an in-principle approval for such infusion.
IIFL Finance shares rally 12% as RBI lifts curbs on gold loan business (20-09-2024)
IIFL Finance Share Price: IIFL Finance shares surged 12.3% after the Reserve Bank of India lifted restrictions on its gold loan business. The company can now resume sanctioning, disbursing, and selling gold loans, following compliance with relevant laws. The restrictions were initially imposed due to deviations in gold purity assessment and breaches in loan-to-value ratios.