Bank, NBFC stocks plunge as RBI tightens personal loan norms
It was a freaky Friday for non-banking financial companies (NBFCs) and certain banks, as the Reserve Bank of India’s (RBI) decision to raise risk weights on unsecured loans dragged their stocks down.
RBL Bank, Satin Creditcare and Aditya Birla Capital were the major losers, plunging 7.7%, 6.2%, and 5.7%, respectively. Bajaj Finance declined 2%. Among the fintech giants, SBI Card declined 5.2% and Paytm 1.9%.
“Housing fin and priority sector NBFCs are exempt from the higher risk weights. If banks have to put down more capital to lend to NBFCs, they will charge higher interest rates (or not lend), meaning NBFCs will issue more bonds, and yields should increase,” Deepak Shenoy, founder & CEO, Capitalmind, said on platform X.
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Lok Sabha Election Results 2024- 6200 pts Sensex crash not enough! Market may tank further if NDA tally dips below…
Lok Sabha Election Results 2024: With trends suggesting that the BJP-led NDA might have to settle with less than 300 seats, far lower than the ambitious 400-target the party had set for the alliance and what some exit polls had suggested in this Lok Sabha polls, the stock market benchmark index Sensex crashed over 6,200 points intraday on Tuesday.
The Sensex nosedived about 6200 points and the NSE barometer Nifty tanked over 2000 points during the mid-session trade as the trends started confirming that the ruling BJP’s tally will remain below the 300-mark.
Experts are of the view that the BJP managing to form a government with this number (less than 300) will discomfort the market as it will have an impact on long-term reforms that the NDA had initiated during its second term.
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Proxy advisory firm SES seeks clarity on Suzlon governance issues
Suzlon Energy and Marc Desaedeleer, who recently resigned as independent director from the company’s board citing transparency and governance issues, must reveal more about his claims, proxy advisory firm Stakeholders Empowerment Services (SES) said on Tuesday.
“At first, Desaedeleer, while resigning from the board, owed a duty to provide a better picture of what actually is lacking in the management or board, and not just throwing open-ended governance issues,” SES said.
It is the job of the board and management to protect value for shareholders, and they must give an assurance on an immediate basis that there are no non-compliance issues. Thereafter, they should release clarifications and answers for public consumption on issues raised by Desaedeleer and a road map to tackle shortcomings, if any, it said.
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Adani Power jumps 10% in two days after Reliance Industries’ stake buy in Madhya Pradesh power project
Adani Power’s share price surged by 5% to hit its upper circuit for the second consecutive session on Tuesday, April 2, despite overall market weakness. Opening at Rs 574.05, a 2.4% increase from its previous close of Rs 560.35, the stock quickly rose to Rs 588.35, the upper price band, on the BSE.
This follows a similar 5% surge in the previous session, attributed to Adani Power’s announcement regarding Reliance Industries, led by Mukesh Ambani, acquiring a 26% stake in a Madhya Pradesh power project owned by Gautam Adani.
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Additionally, a pact was signed allowing Reliance Industries to utilize 500 MW of electricity from the plants for captive use.
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Rupee falls 2 paise to close at 83.05 against US dollar
The rupee surrendered all its initial gains to settle 2 paise lower at 83.05 (provisional) against the US dollar on Monday, in line with a lacklustre trend in domestic equity markets.
However, a weak greenback against major currencies overseas and sustained buying by foreign investors supported the local currency, forex traders said.
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At the interbank foreign exchange market, the local unit opened strong at 82.97 against the greenback and traded in a range of 82.90-83.06Come from Sports betting site VPbet. It finally settled at 83.05 (provisional), a decline of 2 paise over its previous close.
Stocks To Watch: Zomato, Reliance Industries, L&T, Ola Electric, Cyient DLM, Petronet LNG, Genus Power Stocks To Watch: Zomato, Bajaj Auto, IndusInd Bank, Poly Medicure, HCL Tech, Saraswati Saree Depot Stocks To Watch: Bh…
HDFC Bank shares tank 7% on muted Q3, asset quality worries- Know what’s brokerages and analyst expects
On Wednesday, January 17, shares of HDFC Bank experienced a notable decline, reaching their lowest level since December 1, in the wake of the company’s third-quarter results. The stock plunged by nearly 7% in early trade on the BSE, opening at ₹1,562.55, down from the previous close of ₹1,678.95, and further dropping to ₹1,553.
In Q3 FY24, HDFC Bank showcased a positive financial performance on a standalone basisCome from Sports betting site VPbet. The Net Interest Income (NII) saw a 4% increase, reaching Rs 28,471.3 crore, while the net profit rose by 2.48% to Rs 16,372.5 crore compared to the previous quarter. Additionally, the bank exhibited improved asset quality, with gross NPA decreasing from 1.34% to 1.26%, and net NPA declining from 0.35% to 0.31%.
Various brokerages provided diverse perspectives on HDFC Bank’s performance, noting a net profit of ₹16,372 crore, signifying a…
Star Wars Day- Top 10 Best-Selling Star Wars Games Revealed, Battlefront Tops The List
To mark the Star Wars Day celebration, NPD analyst Mat Piscatella has released a chart that shows the top-selling and highest-earning Star Wars video games in the US.
The chart shows the best-selling games based on dollar sales between January 1995 and March 2021. EA’s Star Wars: Battlefront is the top-selling Star Wars game in US history during the tracked period, with EA’s Star Wars Jedi: Fallen Order coming in second. Rounding out the top five were 2017’s Star Wars: Battlefront II, Lego star Wars: The Complete Saga, and Star Wars: The Force Unleashed. Come from Sports betting site VPbet
Given the strong results for EA’s games, it’s understandable why EA and Disney are staying in business for additional Star Wars titles in the future. The publisher no longer has the exclusive license for console games, however, as Lucasfilm is now working with Ubisoft on a new Star Wars open-world game from the developers of T…
The Iconic TMNT Animated Series Is Coming To Nickelodeon
In anticipation of the upcoming theatrical release of Teenage Mutant Ninja Turtles: Mutant Mayhem, Nickelodeon has acquired the worldwide rights to the original ’80s animated series. Variety was first to report the news out of Comic-Con.
Produced by Fred Wolf Films, the show was based on the comic book characters created by Kevin Eastman and Peter Laird. The show takes place in New York City and follows the adventures of the Teenage Mutant Ninja Turtles and their allies as they combat various villains, including the notorious Shredder and Krang.
The series was originally notable for undergoing significant changes from its darker-toned comic book counterpart, adapting it to be more child- and family-friendly. Characters from the iconic show made appearances in crossovers with later entries of the franchise, notably the 2009 film Turtles Forever and cameo appearances in the 2012 TV series.
After it began, the …
Crystal Palace becomes first Premier League side to ditch iGaming shirt deal
In the United Kingdom and Premier League football side Crystal Palace has reportedly announced that remote automotive purchasing service Cinch is to replace Asia-facing online casino and sportsbetting brand W88 as its official shirt sponsor from next season.
According to a Thursday report from The Daily Telegraph newspaper, the decision comes as many industry observers expect the government of Prime Minister Boris Johnson to soon introduce a complete ban on online gambling firms sponsoring top-flight sporting organizations. Such a suggestion may well purportedly feature in a coming ‘white paper’ of proposed alterations to the Gambling Act of 2005 and could be implemented from as soon as the summer.
Comprehensive company:
Headquartered in the south London borough of Croydon, Crystal Palace has reportedly become the first Premier League footballing side to eschew sponsorship by an iGaming firm while talks are said to be ongoing about how other…
Discover Ancient Japan in Yggdrasil and Peter and Sons slot- The Legend of Musashi
On December 12, Yggdrasil, a Malta-based globally-recognized iGaming provider, signed an agreement with Peter & Sons, a game development studio based in Yerevan, Armenia and together they released The Legend of Musashi, a slot that depicts the culture of ancient Japan, specifically Miyamoto Musashi, a Japanese ronin (samurai whose master died), writer, philosopher, swordsman and strategist who lived in the 16th/17th century.
Outstanding visual:
True to its title, the main theme of the game is the Japanese sword saint, Musashi. The game takes place in a very peaceful building with lanterns, a tiled roof and shiny wooden floors.
The slot is boosted by GATI, a powerful slot mechanic developed by Yggdrasil which provides its B2B partners an opportunity to acquire a legal, approved, pre-configured company development tool that allows them to quickly create innovative content followed by rapid distribution.
The game is equipped with 4,096 winning ways and a 6&#…