NEW DELHI: Shares of private banks were trading with gains in Thursday's morning session. Shares of Yes Bank (up 1.4 per cent), IndusInd Bank (up 1.2 per cent), IDFC Bank (up 0.93 per cent), HDFC Bank (up 0.82 per cent) and Federal Bank (up 0.77 per cent) were among the top gainers. While ICICI Bank (down 0.13 per cent) and City Union Bank (down 0.11 per cent) were the top losers in the index. The Nifty Private Bank index was trading 0.49 per cent up at 17,389.25 around 09:24 am. Benchmark NSE Nifty50 index was up 38.15 points at 11,948.3, while the BSE Sensex was up 130.55 points at 40,543.12. Among the 50 stocks in the Nifty index, 38 were trading in the green, while 12 were in the red. Shares of YES Bank, Vodafone Idea, SBI, Tata Motors, Indiabulls Housing, DLF, JSPL, L&T Fin Holding, Ujjivan Financial Services and PowerGrid were among the most traded shares on the NSE. … [Read more...] about Stock market update: Private banks edge higher; YES Bank gains over 1%
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NEW DELHI: Bank shares were trading with gains in Thursday's morning session. Shares of Yes Bank (up 4.67 per cent) , Punjab National Bank (up 1.18 per cent) , IndusInd Bank (up 1.12 per cent) , State Bank of India (up 1.07 per cent) , HDFC Bank (up 0.85 per cent) , Bank of Baroda (up 0.84 per cent) , Federal Bank (up 0.71 per cent) , IDFC BANK (up 0.47 per cent) , RBL BANK (up 0.35 per cent) , Axis Bank (up 0.31 per cent) and Kotak Mahindra Bank (up 0.04 per cent) were among the top gainers. The Nifty Bank index was trading 0.55 per cent up at 31,427.20 around 09:52 am. Benchmark NSE Nifty50 index was up 52.55 points at 11962.7 , while the BSE Sensex was up 165.9 points at 40578.47 . Among the 50 stocks in the Nifty index, 40 were trading in the green, while 9 were in the red. Shares of YES Bank, Vodafone Idea, Tata Motors, SBI, BHEL, JSPL, PowerGrid, SAIL and DLF were among the most traded shares on the NSE. … [Read more...] about Share market update: Bank shares gain; Yes Bank jumps 5%
There is a risk that the PE multiples could come off but as long as the earnings engine sustains. you will make healthy money, said Saurabh Mukherjea, Founder, Marcellus Investment Managers, in an interview with ETNOW. Edited excerpts: We do not talk about real estate stocks but a lot of real estate stocks have not done well. DLF is 20% up, Kolte Patil is at record high, Oberoi is not looking bad. For someone who has patience for three years, does it make sense to buy the top two-three real estate names? I am not sure about residential real estate but I agree that commercial real estate in India is a very viable asset class. Clearly, there is still big shortage of high quality office space in the big cities. There is a good reason to believe that well-run commercial real estate play can generate yields of say 8-9-10%. Commercial real estate is an asset class whose time has not yet come in India and it is worth looking out for that. I am not so sure on residential real estate. I have … [Read more...] about Post election, expect next trigger for market share shift from NBFCs to private banks: Saurabh Mukherjea
- By Varun HudlikarVehicles manufactured and sold after December 1, 2017, already comes pre-fitted with FASTag. But if your vehicle is older than that, you must get the FASTag with a linked payment method to it — either NHAI tags or bank-specific tags.Along with 22 banks, the tag can be purchased online through Amazon and on Paytm. ETBFSI spoke to some industry players to understand how will FASTag boost the businesses of FinTechs and Banks. Opportunity lurking FinTechs and banks have pounced upon to match the surging demand of FASTag. Several banks such as SBI, HDFC, Axis, and ICICI have directed their resources into aggressively marketing the sale of FASTag. Most banks allow registration for free with a Rs 100 re-issuance charge. Navtej Singh, CEO-Digital Hitachi Payment Services said, “While the overall toll collection in India is about Rs 400 crore per month, the ETC program was successful in taking up nearly 22% of this share in a very short span of time.The total … [Read more...] about Can a car sticker be game-changer for FinTechs & banks?
Elara Capital has given a buy recommendation on DCB Bank with a target price of Rs 276. Shares of DCB Bank traded at Rs 241.6 around 1:05 pm on 12 July, 2019. The brokerage has set a one-year horizon for the stock to hit the target price. "We estimate ROAA at 1-1.1 per cent and ROAE at 12.2-13.8 per cent over FY20-21E. We initiate coverage on DCBB with a buy rating and a target price of Rs 276 based on 2.3 times September FY20E P/ABV. Our target price implies upside of 20 per cent," said the brokerage. Investment rationale: Rs 20,00,000 crore credit opportunity to be tapped As per the brokerage, DCB Bank (DCBB IN), a prudent lender in SME & MSME space, has about Rs 20,00,000 crore credit opportunity to tap. As on end-March 2018, total MSME credit demand was assessed at Rs 45,00,000 crore, of which SCBs & NBFCs were to fulfill Rs 15,00,000 crore credit demand, Rs 10,00,000 crore was to be funded directly to personal proprietor and the rest was to remain unattended. … [Read more...] about Buy DCB Bank, target Rs 276: Elara Capital