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We expect NARCL’s offers to come in this week: Swaminathan J, SBI managing director for risk, compliance and stressed assets resolution

The bank now prefers global auctions of bad loans over Swiss challenges as they maximise recoveries, he added. The target of transferring assets worth Rs 50,000 crore to the National Asset Reconstruction Company (NARCL) in FY22 is a few days behind schedule, Swaminathan J, State Bank of India (SBI) managing director for risk, compliance and …

Debt Recovery Tribunal rejects SBI’s plea to invoke personal guarantee given by Essar Steel promoters

ArcelorMittal and Nippon Steel had acquired ESIL in December 2017 for Rs 42,000 crore in one of the largest stressed-asset deals in the country. A recent order of the Ahmedabad bench of Debt Recovery Tribunal (DRT) dismissing SBI’s plea for invoking a personal guarantee extended by Essar Steel (ESIL) promoters has dealt a severe blow …

Stocks soar ahead of Budget, Sensex spurts 814 points

Amid expectations of volatility on the Budget day, the 17,000-level for the Nifty-50 will remain the key support for the further rally, said analysts. The equity markets started the Budget week on a strong note, with the Nifty-50 sailing past the psychologically important 17,000-mark. The markets reacted positively to projections on growth for the current …

Nifty may regain 18000 if it breaches 17777, eyes on US Fed, Union Budget; check top stocks to buy

This week will be important in Dalal Street, Both the US Fed meeting and the January series F&O expiry will be held on Thursday. By Rahul Shah Equity benchmark Index completed their biggest weekly decline since November, as concerns about policy moves by U.S. Federal Reserve, a spike in US Bond Yield and a rally …

SBI to acquire nearly 10% stake in India International Clearing Corporation

The strategic investment in IICC is aimed at strengthening the financial markets infrastructure, SBI said in a regulatory filing on Thursday. State Bank of India (SBI) on Thursday said it will acquire about 10 per cent stake in the India International Clearing Corporation (IICC). IICC is the first international clearing corporation set up at GIFT-IFSC …

State Bank of India, Adani Group, Reliance Capital, Tata Power, Biocon among stocks in focus today

Analysts recommend sticking to pockets showing strength. (Image: REUTERS) On the charts, Nifty 50 now sits at a crucial point after yesterday’s up-move that helped bulls garner much-needed strength. “A decisive upside breakout of the hurdle of 17400-17600 levels could only change the short term negative sentiment of the market,” said Nagaraj Shetti, Technical Research …

Bharti Airtel, Reliance Industries, Latent View Analytics, SBI, DLF among stocks in focus today

Charts signal more weakness ahead. Sensex and Nifty are in the firm grip of bears after having fallen nearly 3.8% each since the middle of November. SGX Nifty was hinting at a continuation of weakness today. Chartists too believe there is more weakness ahead and advise against long bets. “The overall chart pattern as per …

Charts show Nifty to retest 18600 by Dec-end, Bank Nifty to trade in 38200-40000 range; Reliance, SBI top bets

The broader market indices have formed a higher high-low on the weekly chart after forming a base above 50 days EMA By Dharmesh Shah The Nifty started the last week on a positive note and broadly traded in 18100-17800 range throughout the week. In the process, in four out of five sessions Nifty closed above …

Stocks to buy: Nifty eyes 17500; SBI, IndusInd Bank, Motherson Sumi, others show strong uptrend in near-term

Analysts say the market is still trading within the trading range and for the bulls, 17450/58500 would be the range breakout level. By Shrikant Chouhan The benchmark indices opened with a gap due to exceptional strength in the global cues, the market has managed to surpass the level of 17400 but due to lack of …

New TDS rule, IFSC Codes, Cash Withdrawal to Cheque book charges: What’s changing from tomorrow?

Representative image/Pixabay A number of changes for several bank account holders and taxpayers are coming into effect from tomorrow (1st July 2021). There are some significant changes for account holders of State Bank of India, Andhra Bank, Canara Bank and Syndicate Bank. For taxpayers, new provisions related to TDS and TCS are also coming into …

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