Bank Nifty hits another record high on strong gains in HDFC Bank, Axis Bank
Nifty Bank in focus today: Indian banking stocks extended their winning streak for the third consecutive session on Thursday, June 26, supported by favourable global cues following the Israel-Iran truce, which has improved risk-on sentiment toward the Indian stock market.
This, combined with expectations of a potential rebound in credit growth driven by the central bank's recent liquidity measures, has made banking stocks increasingly attractive to investors.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
12 minutes ago
- Business Standard
DS Group VC expects Pulse candy to become Rs 1K-cr brand in 2 yrs
Homegrown FMCG firm Dharampal Satyapal Group expects its Pulse candy to become a Rs 1,000-crore brand in the next two years, having crossed the Rs 750-crore mark in FY25, according to its Vice-Chairman Rajiv Kumar. Dharampal Satyapal (DS) group plans to develop Pulse candy into a multi-format, multi-occasion offering by moving into adjacent product categories, new formats, and introducing regional flavors, having already made it a leading Indian ethnic confectionery brand Kumar told PTI. In 2024-25, Pulse candy sold 750 crore units priced at Re 1 each translating into a revenue of Rs 750 crore. "We are the largest player of hard-boiled candy in the country with a market share of 19 per cent, growing at 15 per cent CAGR in the last three years, at a time when the industry growth in the overall hard-boiled candy segment is 9 per cent," Kumar said. The Indian hard boiled candy market size is estimated to be around Rs 4,000 crore. Asked when the group expects Pulse candy to become a Rs 1,000-crore brand, he said, "Very soon, in one-and-half to two years... We have been growing at 15 per cent and with that sort of growth we can reach the Rs 1,000-crore mark very soon..." Since its launch in 2015, in the last nine years, it has been the largest hard-boiled candy brand, Kumar said. On the way forward, he said the group's vision for Pulse is to evolve it into a multi-format, multi-occasion offering. "We plan to achieve this by strategically moving into adjacent product categories, exploring innovative new formats, and capitalising on the rich tapestry of regional flavors," he said. The group will continue its consistent focus on brand building, enhanced consumer engagement, and achieving deeper market penetration to maintain its leadership position. "We're aggressively pursuing both domestic and international markets for expansion," Kumar said, adding that on the domestic front the group is "leveraging our robust distribution network that has a reach of over 35 lakh outlets across India".
India Gazette
18 minutes ago
- India Gazette
India's Family Offices diversifying assets to global, alternative funds: Report
New Delhi [India] June 26 (ANI): While 25 per cent of Indian family offices continue to prioritise wealth preservation, many are now actively diversifying into global and alternative assets, highlights the recently launched EY-Julius Baer report, The Indian family office playbook. The report highlights a transformative shift in how India's ultra-high-net-worth families are diversifying and managing their wealth to grow and govern. Family offices are private wealth management advisory firms that cater to the needs of ultra-high-net-worth individuals and families. The report underscores that while preserving wealth remains foundational, families are actively diversifying beyond traditional assets. Allocations are increasingly moving into global equities, real estate, private equity, venture capital, and other alternatives. With over 300 family offices now operating in India, up from just 45 in 2018, the ecosystem is becoming more structured, globally focused, and purpose-driven. Family offices are going global as UHNIs are expanding across borders, with Liberalised Remittance Scheme (LRS), remittances have risen from USD 18.8 billion in 2019-20 to USD 31.7 billion in 2023-24. As the number of UHNWIs increases, many first-generation and risk-tolerant entrepreneurs are investing in innovative sectors through family offices. Private credit, though still a small segment, is emerging as a key asset class, with family offices increasingly embracing it for its stable returns, downside protection, and diversification benefits. Umang Papneja, CEO, Julius Baer India, said, 'Family offices are increasingly catering to first-generation entrepreneurs who are more risk-tolerant and open to emerging sectors. As the scale and complexity of wealth grow, there's a stronger focus on strengthening governance, growing asset value and planning for legacy succession.' Surabhi Marwah, Co-leader, Private Tax and Partner, People Advisory Services - Tax, EY India, added, 'The Indian family office ecosystem is at an inflection point where wealth preservation alone is no longer enough. Families now seek efficiency, transparency, and global access, all of which require a more structured approach. At the same time, navigating tax and cross-border regulatory frameworks is becoming central to how these offices function and plan ahead.' According to the report, private markets are yet to see wider adoption among family offices. About 57 per cent of family offices allocate less than 10 per cent of their portfolios to private equity or venture capital, often citing limited access or a cautious approach. Regulatory matters are gaining attention among family offices, the report further cites. Changing tax laws were flagged by 48 per cent of respondents, while 37 per cent cited cross-border complexities. The report notes a growing focus on formalising governance and succession planning among family offices. While 59% of families have put wills or constitutions in place, and 19% have adopted structures like trusts or LLPs, a significant number still lack a comprehensive succession plan - highlighting the need for greater preparedness. Key trends include rising cross-border investments, growing use of GIFT City, increased interest in ESG, and hybrid family office models that blend in-house teams with external experts for greater agility, the report added. (ANI)
India Gazette
19 minutes ago
- India Gazette
Indian economy showed resilience, remained strong in May despite global uncertainty: RBI
New Delhi [India], June 26 (ANI): The Indian economy remained strong in May 2025 even as global uncertainties continued, according to the Reserve Bank of India's (RBI) June monthly bulletin. The central bank noted that several high-frequency indicators point to healthy growth in both the industrial and services sectors. RBI stated, 'In this state of elevated global uncertainty, various high-frequency indicators for May 2025 point towards resilient economic activity in India across the industrial and services sectors.' The report mentioned that key indicators such as e-way bills, GST revenue, toll collections and digital payments showed robust activity, reflecting steady economic momentum. As per data, GST revenue crossed Rs 2 lakh crore for the second month in a row in May, helped by strong import-related GST collections. The report also highlighted that India's real GDP grew by 6.5 per cent in the financial year 2024-25 (FY25), with an impressive 7.4 per cent growth recorded in the fourth quarter. This growth was mainly driven by a 9.4 per cent rise in fixed investment and strong performance in the construction sector. Inflation remained under control, staying below the RBI's target for the fourth straight month in May. This was supported by record levels of crop production, which helped keep food prices in check. The overall domestic price situation continues to be stable, providing relief to consumers. The Purchasing Managers' Index (PMI) data also showed that India is leading the world in economic activity expansion. The services PMI stood at 58.8 per cent, while the manufacturing PMI was at 57.6 per cent, both indicating strong growth. Financial conditions have also become more supportive of growth. Recent interest rate cuts have helped improve credit flow across sectors. In addition, rural demand is rising, suggesting broader participation in the country's economic recovery. India also continues to be a key destination for foreign investment. The country ranked 16th globally in FDI inflows, with USD 114 billion in greenfield investment in digital economy sectors between 2020 and 2024, the highest among Global South nations. While the overall economic outlook remains positive, the RBI cautioned that global risks such as trade restrictions and geopolitical tensions could impact India's medium-term prospects. Nonetheless, the overall economic performance in 2025 so far reflects strong resilience. (ANI)
