Estimates suggest the locked down districts account for close to 50% of microfinance business in India; banks and SFBs could also be impacted
Breakout from 240 would lead Bandhan Bank's stock to witness more upward movement
Peers investing indicates other investors' reluctance; banks must conserve capital first before bailing out the private lender
SBI Card, the second largest largest credit card issuer in the country, got listed at 13 per cent discount at Rs 658 on the BSE, against the issue price of Rs 755.
Three-year lock-in period for investors
The Union Cabinet on Friday approved a reconstruction plan proposed by the RBI for bailing out fund-starved Yes Bank.
ICICI Bank, HDFC, Axis Bank and Kotak Mahindra Bank too on Friday said they will join the SBI-led consortium and invest in Yes Bank
The replacement has been done on account of non-availability of future and options contracts in Yes Bank shares, NSE Indices said in a statement.
When the private lender started operations in August 2016, microcredit constituted 85 per cent of its total loan portfolio
The banking outlets also include doorstep banking units and home loan service centres
Shares of RBL and Bandhan Bank hit new all-time lows, falling below their respective initial public offer (IPO) prices, on the BSE on Monday after a sharp sell-off in the equity markets.
Stock trades below its listing pricing, shedding over 22 per cent year-to-date
Analysts have fundamental concerns on over-leverage in core markets of eastern India and an inability to meaningfully diversify away from microfinance and concentration risk
'MFIs need to lend responsibly. We don't do target-based lending', said Ghosh
Move follows relaxation given by RBI to expand network. Earlier, the regulator had imposed curbs on lender for not meeting promoter shareholding norms
The central bank had barred Bandhan Bank in September 2018 from expanding its network as the lender had failed to reduce promoter stake to 40 per cent
The bank has been allowed to open new branches, provided 25% of all new banking outlets opened in a financial year are in unbanked rural centres
Post inclusion, stocks under the F&O segment will now be 143, up from 140, with effect from February 28, when the March series begins
Among individual stocks, HDFC Life Insurance Company, Bandhan Bank, and Info Edge will be in focus today as they are set to be added in the Futures & Options segment effective February 28
The stock was trading lower for the third straight day, down 3% at Rs 411, its lowest level since February 5, 2019.