After the acceptance of the merger, IDFC First Bank’s shares drops.
After the acceptance of the merger, IDFC First Bank’s shares drops.
IDFC First Bank stock sinks following merger approval
Today on D Street, everyone seemed to be talking about the IDFC First Bank. Following the acceptance of the merger, the private bank’s stock plummeted sharply on the bourses, ending the day 4% down at 78 rupees each. According to analysts who follow the market, the primary factor for IDFC First Bank’s precipitous decline was the merger ratio, which was marginally weighted in favour of the non-banking lender IDFC. On the other hand, shares of IDFC climbed by 2% to finish the day at 111 rupees each on the BSE. It is anticipated that the merger process would be finalised by the end of the year.
CLSA estimates 14% upside on Bajaj Finance
The following piece of news concerns Bajaj Finance. The non-bank financial company (NBFC) saw a significant increase in its stock price on the bourses after it reported strong pre-quarterly results for the June quarter. The business daily ‘Mint’ reports that the brokerage companies CLSA and Morgan Stanley have increased their target prices for Bajaj Finance higher.
The stock’s rating at CLSA has been changed from outperform to buy. The stock brokerage has increased its target price for the company’s stock from 6,000 rupees to 9,000 rupees per share. On the other side, Morgan Stanley did not reduce its overweight position in the stock. The company has increased the price goal for each share to 9,250 rupees.
These two banks, according to Prabhudas Liladher, have potential gains of up to 14%.
Recently, the brokerage company Prabhudas Lilladher provided buy recommendations for both of the country’s private sector banks. The DCB Bank comes in second place, after the Kotak Mahindra Bank. A target price of 142 rupees has been assigned by Prabhudas Lilladher for DCB Bank. On Tuesday, the price of the stock at the closing bell was 123 rupees a share.
The brokerage firm estimates that there is 14% more profit to be made on the stock compared to its present price. Prabhudas’s second selection is Kotak Mahindra Bank. On the counter, Prabhudas Lilladher has projected a target price of 2110 rupees, and he has set a stop loss of 1780 rupees.
Nitilesh Pawaskar is an optimist on the performance of this QSR stock.
A buy recommendation was issued by a technical analyst named Nitilesh Pawaskar for two different equities. First and foremost, he suggests going to Jubilant Foodworks. Pawaskar has projected that the price would reach 570 rupees and has recommended setting a stop loss of 480 rupees. On Tuesday, the price of a share of Jubilant was 499 rupees at the conclusion of trading.
Bharat Forge is the second recommendation that he has. He has set the target price for it at 900 rupees while maintaining a stop loss of 830 rupees. Pawaskar suggests that after a significant period of consolidation on the weekly chart, Bharat Forge appears to be getting ready for a breakthrough. He recommended that investors purchase Bharat Forge at the current price of 855 rupees.
A devastating setback for VI’s paying customers
A significant setback for customers of Vodafone Idea. The 99 rupees prepaid recharge offer has been withdrawn by the telecom company. The least expensive recharge plan offered by Vodafone Idea will now begin at 129 rupees. Customers who sign up for this package will each receive 200 megabytes of data.
However, the lowest cost recharge plan offered by its competitors, Reliance Jio and Airtel, begins at 155 rupees. The validity period is for 28 days. Airtel discontinued its entry-level prepaid recharge package of 99 rupees a few months ago, following the lead of rival competitor Vodafone. The prices of recharge plans are slowly but surely increasing across the industry. As a result, the ARPUs reported by the telecom companies in their quarterly results have increased.
The Innova, the Ertiga, and the Creta will all receive ‘Star Ratings’ from the government.
Beginning on October 1, 2023, a select few eight-seater automobiles sold in India will be awarded star ratings by several government organisations. These ratings will be effective immediately. At the moment, autos are rated out of a possible five stars according to standards that are observed in industrialised nations.
However, the government bodies that provide star ratings to autos will use locally established criteria in their evaluations. The results of the crash testing will determine the ratings that are assigned to the various autos. Bharat New Car Assessment Programme (often abbreviated as BNCAP) is the name of the programme that will be used to administer India’s very own, indigenously built system of crash testing.
Under this unique FD programme, Indian Bank is offering an interest rate of 7.05%.
The “IND SUPREME 300 DAYS” unique retail term deposit product has just been made available by Indian Bank. On FDs that have a term of 300 days, depositors will get an interest rate of 7.05%. When dealing with the public lender, senior citizens will receive an extra rate of 0.50%, which is equivalent to 7.55%. This one-of-a-kind retail term deposit product is available until the 31st of August, 2023.
The majority of individuals only deposited their Rs 2,000 notes and did not swap them.
The Reserve Bank of India reports that the majority of the country’s residents have deposited their 2,000 rupee banknotes rather than exchanging them for other money. Since May 19, 2023, 85 percent of the 2,000 rupee bills that were returned have been deposited instead of being exchanged. The value of the 2,000 rupee banknotes that had been returned to circulation as of this point was 2.55 lakh crore rupees. The Reserve Bank of India requested on May 19 that individuals either deposit or swap 2,000 rupee banknotes. The nation’s central bank has extended the deadline for individuals to return 2,000 rupee notes to the 30th of September in 2023.
On day one, the RIIs’ quota for the Senco Gold IPO was totally subscribed.
On the first day of trading on the D-Street, the initial public offering (IPO) of Senco Gold Limited had been subscribed by 4 pm. The quotas for retail and non-institutional investors were subscribed at a rate of 112%. It is anticipated that the building and development firm with headquarters in Mumbai would bring in little more than 405 crore rupees. On Tuesday, its stock had a GMP price of 102 rupees while it was trading.
