What’s the brokerage view on Bandhan Bank as MD & CEO Ghosh resigns- All details here
The broking firm Motilal Oswal has maintained a ‘Neutral’ rating on the stock of Bandhan Bank. It also kept the target price unchanged at Rs 190 a piece. The brokerage house iterated its rating and price target after the bank’s managing director and chief executive officer, Shekhar Ghosh, announced retirement upon completion of his tenure on July 09.
The bank is now searching successor for Shekhar Ghosh before the completion of his tenure. The resignation of Ghosh came as a surprise for markets as the board of the bank had approved his name, recently, for another term. The bank will now have to submit a shortlist of names to the RBI for approval before his tenure is completed, “this may entail the evaluation of external candidates as well,” said the brokerage firm.
The top-level exit will drag the growth of the bank in FY25. It has already witnessed a lot of changes in the upper management. The bank recently hired various people for lead…
Suzlon Energy receives warning from NSE; shares up for 7th straight day
Suzlon Energy has received a warning letter from the National Stock Exchange for not disclosing an analyst or institutional investor meeting details on exchanges two days before having it.
According to an exchange filing, the company conducted an analyst meeting on November 06, 2023, the disclosure for which was made on the same day. However, the provision is that the company needs to disclose the same two days ahead of having such kinds of meetings or events. “As per Regulation 30 read with sub-para 15(a) of Para A Part A of Schedule III of SEBI LODR, the listed entity shall inform schedule of analysts or institutional investors meet at least two working days in advance (excluding the date of intimation and date of meet),” read the filing.
“The aforesaid non-compliance on your part is viewed seriously. You are hereby warned and advised to be careful in future, exercise due caution and initiate corrective steps to avoid the recurrence of such laps…
Tata Steel Q2 loss at 6196 crore; should you buy, sell or hold stock-
Tata Steel’s stock price advanced by 0.94% to Rs 117.70 a day after the company posted a surprising net loss of Rs 6,196 crore on a consolidated basis for the second quarter of FY24, also missing street estimates, impacted by weak performance of its European operations. In comparison, the steel major had posted a net profit of Rs 1,514.42 crore in the comparable year-ago period. During the quarter review, the Tata Group firm’s consolidated revenue fell 7% to Rs 55,682 crore from Rs 59,878 crore recorded in the year-ago quarter.
Tata Steel’s stock has delivered a mixed performance in the last one year. The stock price dropped 3% in the last five days and 8.59% in the last one month. The stock, however, has offered returns of 6% in the last six months and over 1…
Will Nifty fall on Monday as Hindenburg levels allegations on SEBI Chair- See GIFT Nifty, FII data, F&O, crude, and more before market opens
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 might see a muted opening on Monday. Here is all you need to know before the market opens.
GIFT Nifty was up 22.50 points, or 0.09%, at 24,406 indicating a positive start for the domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 closed 251 points or 1.04% higher to settle at 24,368, while the BSE Sensex rose 820 points or 1.04% to finish at 79,706.
Key things to know before share market opens on August 12, 2024
Hindenburg Research Row
The US-based short-seller Hindenburg Research in a new report alleged that SEBI chairperson Madhabi Puri Buch and her spouse held hidden stakes in the same obscure offshore funds in Bermuda and Mauritius, which were used by Vinod Adani. The couple dismissed the allegations as baseless, asserting their finances are transparent.