{
State Bank of India

Companies

}
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Sensex plunges 900 points amid Adani stock sell-off and foreign outflows

Equity benchmark indices Sensex and Nifty fell sharply in early trade, with the Sensex dropping over 900 points to an intraday low of 76,802.73, driven by a sell-off in Adani Group stocks, rising geopolitical tensions, and ongoing foreign fund outflows. Market analysts are concerned about the impact of state assembly election results on market sentiment, particularly if the ruling Maharashtra government faces unfavorable outcomes. The Nifty PSU Bank index was the biggest laggard, declining 3.58%, with major losses attributed to heavyweights like State Bank of India and Adani Enterprises.
Moneycontrol
Adani Ports State Bank of India Adani Enterprises Limited IND Manish Chowdhury Show more
Finance & Economy, Market Report
07:56 21.11.2024

bank stocks plunge amid adani bribery allegations and market sell-off

Bank stocks experienced a sharp decline on November 21, driven by a broad market sell-off and bribery allegations against Gautam Adani and his executives. Most banking stocks fell, with major public sector banks like State Bank of India and Bank of Baroda losing 4-8%, while private sector banks showed relatively better performance.Following the Hindenburg report in January 2023, several banks disclosed their exposure to the Adani Group, with Life Insurance Corporation reporting Rs 35,920 crore and State Bank of India revealing approximately Rs 27,000 crore in total exposure.
Moneycontrol
Indian Rupee United States Dollar The Federal Bank Limited IndusInd Bank Limited Axis Bank Limited Bank of Baroda Limited IDFC First Bank Limited Canara Bank Bank of India Limited IDBI Bank Limited HDFC Bank Limited REC Limited Union Bank of India Central Bank of India State Bank of India Punjab National Bank IND Gautam Adani Show more
Finance & Economy, Market Report
06:12 21.11.2024

India"s payments ecosystem shifts low-ticket transactions to UPI Lite strategy

India"s payments ecosystem is focusing on migrating low-ticket transactions to UPI Lite, according to NPCI CEO Dilip Asbe. The Reserve Bank of India has also increased the transaction limit for UPI123Pay from Rs 5,000 to Rs 10,000 and raised the UPI Lite wallet limit to Rs 5,000, with a per-transaction cap of Rs 1,000.
Moneycontrol
Indian Rupee State Bank of India National Payments Corporation OF India IND Shaktikanta Das Dilip Asbe
Finance & Economy, Transcript
10:13 19.11.2024

public sector banks show improved efficiency but need better customer experience

Public sector banks (PSBs) have demonstrated significant improvements in operational efficiency, surpassing private sector banks, according to a recent SBI study. However, the quality of customer experience remains a critical area for enhancement, highlighting a need for PSBs to focus on customer satisfaction alongside their efficiency gains.
Moneycontrol
State Bank of India IND
Finance & Economy, Market Report
03:49 19.11.2024

mutual funds increase investments in top stocks amid market correction

In October, mutual funds (MFs) made net purchases exceeding Rs 92,000 crore in local equities, focusing on top Nifty stocks, while foreign institutional investors (FIIs) sold over Rs 94,000 crore. Despite a market correction with major indices dropping over 7%, MFs heavily invested in Mahindra & Mahindra, HDFC Bank, Axis Bank, ICICI Bank, and SBI, with Mahindra & Mahindra attracting Rs 6,840 crore despite a 12% decline in its stock price. HDFC Bank saw inflows of Rs 5,756 crore, while Axis Bank and ICICI Bank received Rs 4,115 crore and Rs 3,897 crore, respectively.
Moneycontrol
Indian Rupee ICICI Bank Limited Axis Bank Limited State Bank of India HDFC Bank Limited Mahindra & Mahindra Limited IND Show more
Finance & Economy, Market Report
04:13 15.11.2024

State Bank of India plans largest bank loan of 2024 at 1.25 billion

State Bank of India (SBI) plans to secure up to $1.25 billion, marking the largest dollar-denominated loan from India's financial sector in 2024. The five-year loan, arranged by CTBC Bank, HSBC Holdings Plc, and Taipei Fubon Bank, will have an interest margin of 92.5 basis points over the risk-free Secured Overnight Financing Rate. The funds will be utilized for general corporate purposes through SBI's branch at the Gujarat International Finance Tec-City.
Moneycontrol
United States Dollar State Bank of India HSBC Holdings plc IND
Finance & Economy, Market Report
02:36 15.11.2024

RBI identifies SBI HDFC Bank and ICICI Bank as systemically important banks

The Reserve Bank of India has identified State Bank of India, HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs). SBI will face an additional Common Equity Tier 1 requirement of 0.80% of Risk Weighted Assets, while HDFC Bank and ICICI Bank will have requirements of 0.40% and 0.20%, respectively. The higher surcharges for SBI and HDFC Bank will take effect from April 1, 2025, with interim rates of 0.60% and 0.20% applicable until then.
Moneycontrol
Indian Rupee State Bank of India ICICI Bank Limited HDFC Bank Limited IND Show more
Finance & Economy, Press Release
06:43 13.11.2024

major companies report q2 earnings amid mixed market expectations

State Bank of India reported a consolidated profit of Rs 20,219.62 crore for Q2FY25, marking a 23.4% increase year-on-year, with standalone profit rising 27.9% to Rs 18,331.44 crore. The bank's gross NPA ratio improved to 2.13%, while credit growth reached 14.93% YoY, driven by corporate and agricultural advances. Meanwhile, Tata Steel's EBITDA rose to Rs 55 billion, bolstered by strong Indian operations, despite widening losses in Europe.
Financialexpress
United States Dollar Indian Rupee Tata Motors Limited Vedanta Limited Ashok Leyland Limited Life Insurance Corporation of India State Bank of India IND Dheeraj Hinduja Shailesh Chandra Donald Trump Show more
Finance & Economy, Market Report
13:05 08.11.2024

sbi reports higher than expected profit driven by strong lending growth

State Bank of India reported a second-quarter profit that exceeded analyst expectations, driven by robust credit growth and reduced provisions for loan losses. This performance highlights the bank's strong lending capabilities in a competitive market.
bloomberg.com
United States Dollar State Bank of India IND
Finance & Economy, Market Report
09:36 08.11.2024

local policies to drive indian markets amid global uncertainties says ubss chhaochharia

Gautam Chhaochharia, Head of Global Markets at UBS, emphasizes that local policy decisions will be the primary drivers of Indian markets, overshadowing global influences like Trump's policies. He expresses cautious optimism about economic growth and earnings recovery, while highlighting the need for policy support and potential rate cuts in the coming months. Chhaochharia notes that consumer sectors linked to rural recovery are better positioned for growth amidst current valuation concerns.
CNBCTV18
Indian Rupee Larsen & Toubro Limited Tata Steel Limited State Bank of India HDFC Life Insurance Company Ltd. IND Gautam Chhaochharia Ramesh Damani Show more
TradFi, Market Report
07:05 07.11.2024
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