Latest news with #NiftyPSU
Business Standard
2 days ago
- Business
- Business Standard
Sensex slides 585 pts; PSU bank shares underpressure
The headline equity benchmarks traded with significant cuts in mid-afternoon trade, despite positive cues from global markets, including the US-EU trade agreement. Market participants remained cautious, closely tracking the ongoing earnings season and FII activity. The Nifty slipped below the 24,700 level. PSU bank shares declined for the second day in a row. At 13:30 IST, the barometer index, the S&P BSE Sensex, declined 585.27 points or 0.70% to 80,876.09. The Nifty 50 index declined 159.10 points or 0.64% to 24,674.90. In the broader market, the S&P BSE Mid-Cap index fell 0.76% and the S&P BSE Small-Cap index slumped 1.33%. The overall market breadth was weak, with more stocks declining than advancing. On the BSE, 1,158 stocks advanced, 2,896 declined, and 177 remained unchanged. Buzzing Index: The Nifty PSU bank index fell 1.07% to 6,928.65. The index dropped 2.75% in the two consecutive trading sessions. Indian Overseas Bank (down 2.03%), Indian Bank (down 1.53%), Union Bank of India (down 1.52%), Punjab & Sind Bank (down 1.5%), UCO Bank (down 1.22%), Bank of Baroda (down 1.11%), Punjab National Bank (down 0.95%), State Bank of India (down 0.92%), Bank of India (down 0.81%) and Central Bank of India (down 0.62%) declined. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.16% to 6.363 from the previous close of 6.353. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.5600 compared with its close of 86.5200 during the previous trading session. MCX Gold futures for 5 August 2025 settlement rose 0.06% to Rs 97,878. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.49% to 97.87. The United States 10-year bond yield declined 0.25% to 4.375. In the commodities market, Brent crude for September 2025 settlement rose 31 cent or 0.45% to $68.75 a barrel. Stocks in Spotlight: NIBE jumped 5.36% after the company announced a strategic technology collaboration agreement with Elbit Systems, a globally renowned technology company from Israel. Cartrade Tech surged 8.97% after the company reported a 105.59% jump in consolidated net profit to Rs 47.06 crore in Q1 FY26 as compared with Rs 22.89 crore in Q1 FY25. Revenue from operations increased 22.27% year-on-year to Rs 173.03 crore in Q1 FY26.
Time of India
7 days ago
- Business
- Time of India
PSU banks looking better against private peers at least for next 2 quarters: Narendra Solanki
Narendra Solanki , Head Fundamental Research-Investment Services, Anand Rathi Shares & Stock Brokers , notes that PSU banks have outperformed private banks due to improved fundamentals like interest margins and declining NPAs . Consequently, PSU bank valuations are approaching those of private banks, trading around 1.5-1.7 times book value. Despite recent profit booking, PSU banks are expected to maintain their advantage over private peers for the next two quarters. Eternal held on to the 11.5% gains yesterday. How are you looking at the stock movement from here on and how much more head do you believe can be there for the stock from these levels because it is at an all-time high level for this particular counter? Narendra Solanki: The results were good, especially on the part of Blinkit. The results were very exciting. The food delivery business has seen a moderation but the margins are slated to improve and the growth should continue to remain strong. So, on both fronts, we continue to see improvement for the stock going ahead, especially the Blinkit turnaround is very positive for the company and that has been reflecting in the prices of the stocks lately. So, we are still positive on the stock for the medium to long term. Explore courses from Top Institutes in Please select course: Select a Course Category Operations Management Technology PGDM Public Policy others MBA healthcare Data Science Cybersecurity Artificial Intelligence Leadership Data Science Others Product Management Data Analytics CXO Project Management Degree Digital Marketing Design Thinking Healthcare Management MCA Finance Skills you'll gain: Quality Management & Lean Six Sigma Analytical Tools Supply Chain Management & Strategies Service Operations Management Duration: 10 Months IIM Lucknow IIML Executive Programme in Strategic Operations Management & Supply Chain Analytics Starts on Jan 27, 2024 Get Details What got the entire Nifty PSU basket so spooked because there were two consecutive days of big losses coming in over here. Select names like Canara Bank are down and out by about 3%. What is marring the entire Nifty PSU bank pack and what could be the reasons other than the earnings overhang on some from the Nifty PSU banks pack? Don't you think that the reaction is being a little overplayed right now? Narendra Solanki: It is a mix of two factors. One is definitely a reaction to the earnings and the other is historical performances of the past one to three months. Then the PSUs outperformed the private peers on the back of improving fundamentals like improvement in the interest margins, improvement in the profitabilities and the gradually declining NPA. So, the valuations have also started coming very close to their private peers where some PSU banks have started trading at around 1.5, 1.7 times book value. The majority of the pack on an average was trading at around 0.9 to 1.1 price to book value while their private counterparts like larger private banks which once traded at higher than 3.5-4x book values are still trading at somewhere between 2.5 and 3 book value. So, the valuation gap has narrowed and it is a combination of near-term profit booking on back of earnings reaction . These both factors have played out but our view is that PSU as a pack is still looking better in comparison with the private peers at least for the next two quarters. You Might Also Like: Not top-down, it's time to go stock-specific; wait for clarity on consumption stocks: Harsha Upadhyaya Get ready for a narrower market over next 2-4 years where earnings surprises will drive share prices: Rakshit Ranjan
Business Standard
15-05-2025
- Business
- Business Standard
Barometers pare losses; Nifty above 24,850; India VIX jumps 1.61%
The key equity indices erased all early losses and traded with significant gains in the afternoon trade, supported by cooling inflation and progress in U.S.-China trade talks. Barring the Nifty PSU bank index, all the sectoral indices on the NSE were in green. The Nifty traded above the 24,850 mark. The market was volatile due to the weekly expiry of the Nifty F&O series today. At 13:28 IST, the barometer index, the S&P BSE Sensex, jumped 630.40 points or 0.77% to 81,966.02. The Nifty 50 index added 218.65 points or 0.89% to 24,882.60. The broader market, the S&P BSE Mid-Cap index rose 0.28% and the S&P BSE Small-Cap index added 0.81%. The market breadth was strong. On the BSE, 2,435 shares rose and 1,357 shares fell. A total of 176 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.61% to 17.50. Gainers & Losers: Hero MotoCorp (up 4.92%), Tata Motors (up 3.47%), JSW Steel (up 2.90%), Shriram Finance (up 2.52%) and Adani Ports and Special Economic Zone (up 1.60%) were the major Nifty50 gainers. NTPC (down 1.24%), Power Grid Corporation of India (down 1.20%), Indusind Bank (down 1.15%), Cipla (down 0.87%) and Coal India (down 0.77%) were the major Nifty50 Losers. Stocks in Spotlight: Tilaknagar Industries zoomed 12.65% after the company reported a 145.9% surge in consolidated net profit to Rs 77.35 crore on a 13.1% increase in revenue from operations (excluding excise duty) to Rs 405.81 crore in Q4 FY25 over Q4 FY24. Dollar Industries tanked 3.06% after the companys consolidated net profit tumbled 13.74% to Rs 29.24 crore in Q4 FY25, compared with Rs 33.90 crore in Q4 FY24. However, total income jumped 9.73% year on year to Rs 550.91 crore in Q4 FY25. Agi Greenpac fell 1.83%. The company reported a 50% rise in consolidated net profit to Rs 97 crore in Q4 FY25 from Rs 65 crore in Q4 FY24. Consolidated revenue grew by 13% year-over-year (YoY) to Rs 705 crore during the fourth quarter. eClerx Services surged 9.02% after the companys consolidated profit after tax stood at Rs 152.2 crore in Q4 March 2025, marking a healthy 16.6% year-on-year growth and an 11% rise compared to Q3 December 2024. Operating revenue for the quarter came in at Rs 898.3 crore, up 17.2% from a year ago and 5.2% higher sequentially. Brigade Enterprises fell 2.39%. The company reported a 19.76% jump in consolidated net profit to Rs 246.82 crore in Q4 FY25 as against Rs 206.09 crore reported in Q4 FY24. However, revenue from operations fell 14.21% year-on-year (YoY) to Rs 1,460.39 crore in the quarter ended 31 March 2025. Sagility India slipped 4.32%. The company reported a consolidated net profit of Rs 182.57 crore in Q4 FY25, a 127.64% increase as against Rs 80.20 crore in Q4 FY24. Revenue from operations jumped 22.23% YoY to Rs 1,568.5 crore in Q4 FY25. Global Markets: The US Dow Jones index futures were currently down by 223 points, signaling a weak opening for US stocks today. European market opened lower on Thursday as investors digest earnings updates from a number of companies across the continent. The U.K. economy grew 0.7% in the first quarter of 2025, according to a preliminary estimate from the U.K.s Office for National Statistics. The countrys gross domestic product (GDP) grew by 0.6% in the first quarter, a significant improvement from the 0.1% growth in the fourth quarter and zero growth in the third quarter. The Office for National Statistics (ONS) reported that the first-quarter growth was largely driven by a 0.7% increase in the services sector. Additionally, production grew by 1.1%, while the construction sector showed no growth during this period. Most Asian stocks traded mixed, supported by signs of easing trade tensions between the United States and China. While markets appear to have priced in the peak of tariff-related macroeconomic stress, investor sentiment remains cautious amid softening U.S. economic indicators. On Wall Street, major indexes posted mixed performances on Wednesday. The S&P 500 gained 0.1%, and the NASDAQ Composite rose 0.7%, driven largely by sustained strength in technology stocks. The Dow Jones Industrial Average declined 0.2%. Investor optimism around artificial intelligence continued to support technology shares. Several AI-related chipmakers and infrastructure firms delivered strong earnings and forward guidance. Server manufacturer SuperMicro surged over 15%, while cloud computing company CoreWeave rose 6.6% during the session. However, CoreWeave declined 7.9% in after-hours trading following comments that increased capital expenditures may compress its profit margins. Technology stocks have been the primary drivers of this week's gains, particularly after the U.S. and China announced a meaningful step back from ongoing tariff escalations. Broader market sectors also advanced on the news, though their momentum slowed by Wednesday. Market participants are now focused on the upcoming U.S. Producer Price Index (PPI) data, expected on Thursday, which is anticipated to show a moderation in factory-gate inflation for April. Additionally, attention is centered on a scheduled speech by Federal Reserve Chair Jerome Powell later on Thursday. Powell is expected to provide further insight into the Feds monetary policy framework and its approach to achieving the dual mandate of maximum employment and price stability, particularly in the context of unchanged interest rates and continued economic uncertainty highlighted during last weeks policy decision.
Business Recorder
06-05-2025
- Business
- Business Recorder
India's Bank of Baroda expects margin pressure to persist for two more quarters
BENGALURU: India's Bank of Baroda expects margin pressure to continue through the second quarter of this fiscal, after a drop in fourth-quarter margins and core lending income sent its shares tumbling over 10% on Tuesday. The company's net interest income, or the difference between interest earned on loans and paid on deposits, fell to 110.20 billion rupees ($1.31 billion) for the quarter ended March 31 from 117.93 billion rupees a year earlier. Its domestic net interest margin dropped to 3.02% from 3.45% earlier. CEO Debadatta Chand said at a press conference that the state-owned lender anticipates margin pressure to persist for the first two quarters of this fiscal year, which started on April 1. He did not provide details. Shares of Bank of Baroda, India's third-largest state-run lender by assets, fell more than 10% after the results. The stock was the biggest loser on the Nifty PSU bank index, which settled nearly 5% lower. Indian lenders have grappled with tighter liquidity conditions for the last few quarters, forcing them to pay higher interest to attract customer deposits. Bank of Baroda's interest paid on deposits jumped 10% compared to a 3.3% rise in interest earned on loans. Domestic cost of deposits jumped to 5.33% from 5.11% a year earlier. The lender's cost of deposits peaked in the fourth quarter, CEO Chand said. 'These are weak results from Bank of Baroda, said Anand Dama, head of BFSI at Emkay Global Financial Services, with 'margins and slippages disappointing investors.' Fresh slippages, or loans classified as bad for the first time, rose to 28.73 billion rupees during the quarter from 28.55 billion rupees a year earlier and 25.03 billion rupees in the previous quarter.
