Page 2 - Financial Stocks

Bajaj Finance's long range strategy lifts stock 5% higher

The consumer financier reported its highest-ever quarterly profit at Rs 2,973 crore in Q3FY23, up 40% YoY, aided by a healthy rise in NII and drop in provisions and contingencies

Sensex, Nifty advance on gains in IT, financial shares and global cues

Shares of Reliance Industries on Monday ended marginally lower, after the company reported a 15 per cent decline in net profit for the third quarter

Sensex, Nifty decline as metal, financials shares retreat amid FII outflows

From the Sensex pack, Axis Bank, NTPC, HDFC, HDFC Bank, Mahindra & Mahindra, ICICI Bank, Reliance Industries and Maruti were among the major laggards

FM urges independence of CAs to preserve integrity of financial statements

Says statutory filings and audit reports by CAs are public documents that multiple stakeholders rely on; urges adherence to fair and transparent practices

LIC Housing Finance plunges 13% on disappointing September quarter results

LIC Housing Finance's net interest income (NII) declined by 0.8 per cent to Rs 1,163 crore in the reporting quarter from Rs 1,173 crore a year ago.

Financials, IT, FMCG see highest FPI sell-off in first fortnight of October

Overseas funds dumped Rs 4,081 crore worth of shares of companies in the financial services sector, while IT shares worth Rs 1,665 crore were sold, according to data collated by primeinfobase.com

Global Health Limited's IPO to open on November 3: Red Herring Prospectus

The initial share sale of Global Health Limited, which operates and manages hospitals under the Medanta brand, will open for public subscription on November 3. The Initial Public Offering (IPO) will conclude on November 7, according to the Red Herring Prospectus (RHP). The IPO consists of a fresh issue of equity shares aggregating to Rs 500 crore and an offer for sale of up to 5.08 crore equity shares. As a part of the OFS, Anant Investments, an affiliate of private equity major Carlyle Group and Sunil Sachdeva (jointly with Suman Sachdeva), will offload equity shares. At present, Anant Investments holds 25.67 per cent shareholding in Global Health and Sachdeva owns 13.43 per cent stake in the company. Proceeds from the fresh issue will be used to pay debt and general corporate purposes. Founded by Naresh Trehan, a renowned cardiovascular and cardiothoracic surgeon, Global Health is a leading private multi-speciality tertiary care providers in the North and East regions of ...

Financials, IT, energy see highest FPI selloff in last fortnight of Sept

The selling dragged the BSE Financial Services index by 4.7 per cent in the last two weeks of September.

Ex-promoters can't hold stake in insolvent firms acquired by others: SC

Court agrees with tribunal orders in Bhushan Steel's acquisition by Tata group firm

Rate sensitive shares bounce back after RBI hikes rate; Nifty Bank gains 1%

Kotak Mahindra Bank, HDFC Bank, Axis Bank, State Bank of India, HDFC, ICICI Bank, SBI Life Insurance and SBI Cards from the Nifty Financial index gained up to 2 per cent each.

Tech, financial stocks drag Wall Street lower as growth concerns mount

Nine of the 11 major S&P sectors declined, led by a drop of 2% in consumer discretionary and 1.5% in financial stocks; Eli Lilly up on FDA approval for cancer drug

FPIs train guns on financial services stocks in Sept, shows data

IT stocks saw maximum selling by FPIs in the last fortnight at about Rs 3,998 crore, weighing on its performan

Bajaj Finserv surges 8% ahead of board meet for bonus, stock split

The company is expected to post 25.8 per cent YoY growth in Q1 revenue, led by pick up in lending business coupled with continued healthy traction in premium accretion in insurance business.

World stocks near fresh 2022 lows on inflation fears weigh on investors

An index of world stocks is down and very close to a 2022 low. European stock indices are also in a vulnerable position with benchmark shares down nearly 2%

Chris Wood rejigs India equity exposure; replaces HDFC with HDFC Bank

In the financial sector, Wood now holds SBI, Bajaj Finance, ICICI Prudential Life, ICICI Lombard and CAMS besides HDFC Bank in his India long-only equity portfolio.

India Inc's earnings may take a hit in coming quarters as rates rise

Listed non-financial firms had saved nearly Rs 1 trn because of decline in interest rates in FY21, FY22

European stocks slip, US futures in red; markets raise ECB rate hike bets

European stocks took a dip while US futures is saw red on Wednesday. Asian stocks gathered strong ground following US-based stock dip. Market sentiment too, was volatile leading to lower indexes

Piramal Enterprises logs Rs 151 cr net profit in Q4, overcomes loss

Board recommends a dividend of Rs 33 per share, subject to shareholder's approval.

FPIs pruned exposure to banking and financial stocks in FY22: Analysis

As FPIs deploy the maximum in the banking sector, it has to bear the brunt during episodes of capital repatriation.

T+1, peak margin norms in interest of investors, says Sebi chief Tyagi

Peak margin norms, proposal to shift to a T+1 settlement cycle have been criticised by brokers, foreign portfolio investors.