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<ul><li>The share price of <keyword id="46717" type="CITY" weightage="20" keywordseo="IndusInd-Bank">IndusInd Bank</keyword> is up by 10% during mid-morning trade. </li><li>Even though the private sector bank reported a 16% drop in profit, its customers have been paying off their loans despite the option of a moratorium. </li><li>In the short run, analysts believe IndusInd Bank’s performance will be driven by its credit behaviour given that its retail book has a higher proportion of non-salaried customers. </li></ul><keyword id="6265775" type="COMPANY" weightage="20" keywordseo="IndusInd-Bank-share-price">IndusInd Bank share price</keyword> has skyrocketed by 10% after the private sector bank disclosed its earnings on Monday, April 27 — which missed their mark when it comes to profit. Even though profit took a hit and fell by 16%, the bank reported that its deposits have stabilised during the earnings call. <div type="image" title="indusindbank" msid="75425253" hostid="261" caption="&amp;lt;p&amp;gt;IndusInd Bank&amp;#39;s share price increases by 10% in mid-morning trade on April 28&amp;lt;/p&amp;gt;"></div> IndusInd Bank’s provisioning for bad loans was 56.3% higher in the March quarter than a year ago with mostly corporate loans that facing the risk of default. Its net interest margins (NIMs) have increased and most of its customers aren’t deferring payments despite the option of the moratorium, according to the company. “Stabilisation in liability profile and improvement in asset quality are critical parameters expected to drive performance of IIB’s stock price in the post-COVID scenario,” said a report by research analysts at JM Financial Institutional Securities. Yet, the surge the share price does not match up to the previous increase which happened after <a href="https://www.businessinsider.in/stock-market/markets/news/goldman-sach-bought-indusind-shares-after-the-stock-price-nearly-doubled-in-13-trading-sessions/articleshow/75176481.cms">Goldman Sachs bought up 4.1 million</a> of the bank’s shares worth ₹176 crore on April 15. The disclosure led the share price to zoom up to ₹474.7 on April 17. What made the share price jump? The Reserve Bank of India (RBI) has given people the option to defer payments on their loans, but according to IndusInd Bank — its customers aren’t going down that route. During the conference call, the bank said it received 96% of non-vehicle portfolio repayments and 95% of repayments of its vehicle portfolio in March. Even in the micro-finance portfolio, the lender received 99% of repayments. Going forward, the bank expects retail to account for 60% and corporate to account for 40% of its balance sheet by the end of the next financial year. “Bank’s strategy has shifted towards ‘Retailisation of Balance Sheet’ with focus on improving retail deposit franchisee, increase the contribution of non-vehicle retail loans, and increase the proportion of microfinance business,” according to Philip Capital. However, in the short run, analysts believe IndusInd Bank’s performance will be driven by its credit behaviour given that its retail book has a higher proportion of non-salaried customers. See also: <a href="https://www.businessinsider.in/stock-market/markets/news/goldman-sach-bought-indusind-shares-after-the-stock-price-nearly-doubled-in-13-trading-sessions/articleshow/75176481.cms">Goldman Sachs bought IndusInd shares after the stock price nearly doubled in 13 trading sessions</a> <a href="https://www.businessinsider.in/business/news/indusind-bank-q4-net-profit-down-16-pc-at-rs-301-74-cr/articleshow/75408390.cms">IndusInd Bank Q4 net profit down 16 pc at Rs 301.74 cr</a> <a href="https://www.businessinsider.in/business/news/indusind-bank-shares-zoom-nearly-14-pc-after-q4-earnings/articleshow/75422017.cms">IndusInd Bank shares zoom nearly 14 pc after Q4 earnings</a>

IndusInd Bank shares skyrocket by 10% as its customers choose not to defer paying off loans

Shares of <keyword id="46717" type="CITY" weightage="20" keywordseo="IndusInd-Bank">IndusInd Bank</keyword> continued to fall for second consecutive day on Wednesday and closed nearly 6 per cent lower following a rise in non-performing assets in December quarter. The stock dropped 5.44 per cent to close at Rs 1,400.60 on the BSE. During the day, it tumbled 6 per cent to Rs 1,391.10. On the NSE, it fell 5.57 per cent to close at Rs 1,399.
 It was the worst hit among the 30-share BSE index and Nifty-50 components.
 In the previous trade also, it had fallen 4 per cent.
 On traded volume terms, 4.23 lakh shares were traded on the BSE and over 1.3 crore shares on the NSE during Wednesday.
 In two days, the company's market valuation has eroded by Rs 9,678.58 crore to Rs 97,071.42 crore on the BSE.
 IndusInd Bank on Tuesday posted a 32 per cent rise in net profit to Rs 1,300.20 crore for the December 2019 quarter.
 The bank had registered a profit of Rs 985.03 crore in the year-ago period.
 Its total income during the period under review increased to Rs 9,073.93 crore from Rs 7,232.32 crore in the third quarter of the previous fiscal, IndusInd Bank said in a regulatory filing.
 Gross non-performing assets (NPAs) rose to 2.18 per cent of the total advances at the end of December quarter of the current financial year as against 1.13 per cent by the end of same period a year ago.
 Net NPAs increased to 1.05 per cent in the quarter from 0.59 per cent of the total assets in the year-ago period.

IndusInd Bank shares continue to drop for second consecutive day

<ul><li><keyword id="46717" type="CITY" weightage="20" keywordseo="IndusInd-Bank">IndusInd Bank</keyword>’s share price rose by over 2% after plans of US-based hedge fund <keyword id="9536386" type="COMPANY" weightage="20" keywordseo="route-one-investment-company">Route One Investment Company</keyword> to double its stake in the financial institution were filed.</li><li>It currently holds 4.95% but wants to up the ante to 10% equity capital. </li><li>The Reserve Bank of India (RBI) and the bank’s board of directors have approved the acquisition.</li></ul>IndusInd bank’s share price jumped by over 2% in afternoon trade on July 24 after it announced that it will be selling over 5% stake to the US-based hedge fund Route One Investment Company (ROIC). <div type="image" title="IndusInd shareprice" msid="77144148" hostid="261" caption="&amp;lt;p&amp;gt;IndusInd&amp;#39;s share price over the last one week&amp;lt;/p&amp;gt;"></div> ROIC already holds 4.95% stake in IndusInd Bank but is now looking to double up with a 10% buy-in. As per the bank’s current market capitalisation, a 10% stake in IndusInd bank is valued at ₹ 3631.5 crore ($485 million). <div type="Article" hostid="261" msid="77128780" title="Axis Bank finalises Max Life Insurance investment and is closer to raising more funds" mstype="2" mssubtype="0"></div> After getting the Reserve Bank of India approval, which dictates that any acquisition of shareholding rights of 5% has to go through them first, IndusInd back also got the approval from the bank’s board of directors. Fundraising to protect the balance sheet IndusInd Bank, like most banks in the private sector, is currently shoring up capital to cushion against the slew of bad loans that may follow once the Reserve Bank of India’s (RBI) moratorium comes to an end on August 31. Big wigs like the State Bank of India (SBI) and ICICI Bank are doing this through <a href="https://www.businessinsider.in/finance/banks/news/just-like-sbi-icici-bank-has-created-a-cash-cushion-in-case-bad-loans-rise/articleshow/77140214.cms">selling their stake</a> in their insurance arms, which includes ICICI Lombard, ICICI Life Insurance, SBI Life and SBI Card. Loan growth is also expected to take a hit as businesses slow down in the wake of the economic downturn. IndusInd Bank is yet to announce the date for revealing its first-quarter earnings. The bank’s moratorium books and credit quality will be key metrics to assess the impact of the lockdown and slowdown in business may hold for the bank. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/just-like-sbi-icici-bank-has-created-a-cash-cushion-in-case-bad-loans-rise/articleshow/77140214.cms">Just like SBI, ICICI Bank has created a cash cushion in case bad loans rise</a> <a href="https://www.businessinsider.in/finance/news/yes-bank-is-looking-to-raise-10000-crore-through-fpo-with-kotak-securities-axis-capital-and-sbi-capital-reportedly-to-be-key-players/articleshow/76153458.cms">Yes Bank is looking to raise ₹10,000 crore through FPO – with Kotak Securities, Axis Capital, and SBI Capital reportedly to be key players</a>

IndusInd Bank's share price jumps over 2% after US investor plans to double its stake

<ul><li>This is another case of a marquee private bank in India falling from grace amidst rising bad loans. </li><li>IndusInd Bank slumped over 7% after UBS downgraded stock to ‘Sell’ </li><li>The global investment bank said the credit risks are higher than expectations.</li></ul> The shares of IndusInd Bank slipped by over 7% at one point on Thursday after global investment bank UBS downgraded its stock to ‘sell’ and said that the credit risks may be more than twice as high compared to the company’s guidance. “The downside risk to IndusInd Bank’s earnings exists as believe credit costs could be higher at 150 basis points as compared to the company’s guidance of 65 basis points in 2019-20,” UBS said in its report on June 12. Business Insider <a href="https://www.businessinsider.in/indusind-bank-bad-loan-impact-from-ilfs-crisis/articleshow/69557477.cms">reported on May 31</a> that IndusInd Bank had made the same mistake as many other Indian banks trying to downplay the worst of its problems. What’s worse, according to UBS, there could be surprises. “Retail deposits, as a percentage of external liabilities for IndusInd is the lowest among banks in our coverage, at around 20%, which is a structural issue, in our view, and often manifests in credit quality surprises,” UBS said. Simply put, when compared to its peers, the bank has far fewer individual deposits to make up for any more loans that may turn sour in the days to come. The stock which is trading at a price close to its 52-week lows after the recent quarterly earnings showed that the bank’s net profit fell 62% to ₹3.6 billion. Moreover, the bank made a provision of ₹12.7 billion against its loan to the troubled infrastructure lender IL&amp;FS. A provision is the amount of money a bank sets aside to cover a loan which is unrecoverable. Not only did this amount come<a href="https://www.businessinsider.in/indusind-bank-bad-loan-impact-from-ilfs-crisis/articleshow/69557477.cms"> in too late</a>, but it also is not enough to cover its exposure to IL&amp;FS which turned insolvent last year. The bank had been changing goal posts of its extent of exposure almost every quarter since the crisis unfolded. “They should have told us (analysts) from day one about the provision, and not have guided lower numbers to us,” says Hemindra Hazari, an independent capital markets. He wrote a report on the bank titled ‘ Sell-Side Analysts’ Blind Faith in IndusInd Bank Need Not Blind Investors’. SEE ALSO <a href="https://www.businessinsider.in/indusind-bank-bad-loan-impact-from-ilfs-crisis/articleshow/69557477.cms">An Indian bank is still making the same mistake of hiding the worst and hoping for the best</a>

Investors lose over $600 million in a day in one stock as the management was more optimistic than cautious

<ul><li>The first burst of quarterly earnings are out and six large companies HDFC Bank, Reliance Industries, TCS, Wipro, Infosys, and IndusInd Bank have declared their performance.</li><li>While the trend has been positive in all but one case, the management commentary has been negative in three companies.</li><li>HDFC Bank, the latest among the blue-chips to declare its earnings, lost over 3% in share value on Monday.</li></ul> Six companies from the Sensex list -- HDFC Bank, Reliance Industries, TCS, Wipro, Infosys, IndusInd Bank and Yes Bank -- have declared their quarterly earnings so far. <a href="https://www.marketsmojo.com/mojo/resultcorner?RefBse=1" data-type="tilCustomLink" target="_blank">Markets Mojo</a>, a gauge of the market mood on the website of the Bombay Stock Exchange (BSE), shows that the performance of four out of the six stocks are positive, the commentary around the prospects for these companies have turned down in three cases. 
	
	
	
	
	
	
 
 
 
 
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 Banks in a bind HDFC Bank, the latest among the blue-chips to declare its earnings, lost over 3% in share value on Monday. It was not just because the earnings were poor. Yes, the margin shrank a bit and the amount of bad loans rose but it was the pessimism in the management's commentary that did the stock in. “The tone of management commentary may spook the markets. However, it is still one of the best managed banks out there,” Jefferies said in its report. HDFC Bank has reported a 23% growth in revenue and a 21% rise in net profit compared to a year earlier. The rise in bad loans from farmers was offset by a spike in other income. IndusInd Bank, whose reported profit grew 38%, suffered from the fears of a spike in bad loans because of the company's exposure to the infrastructure lending giant IL&amp;FS that has gone bust. The IL&amp;FS crisis has cast a shadow of doubt on the entire financial sector in the country. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 The slump in demand for cars and two-wheelers, the lack of enthusiasm among home buyers, and spiralling consumer demand overall have dented bank earnings overall. Yes Bank's <a href="https://www.businessinsider.in/yes-bank-q1-earnings-report-yes-bank-share-price-q1-earnings-repor/articleshow/70261380.cms" data-type="tilCustomLink" target="_blank">quarterly profit between April and June 2019 fell 91%</a> compared to the same period a year ago, but it was still way better than estimates-- showing the lack of investor confidence. What propped up the stock on Monday were reports of a <a href="https://economictimes.indiatimes.com/markets/stocks/news/yes-bank-shares-rally-7-on-dhfl-deal-buzz/articleshow/70325293.cms" data-type="tilCustomLink" target="_blank">possible fund infusion</a> in the troubled housing finance company DHFL, to which Yes Bank has lent money. 
 
 
 
 
 
 
 
 
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 The elephant in the room The stock of Reliance Industries (RIL), one of India's biggest conglomerates, got a fillip on the first trading day after its earnings. But truly, the investors were just celebrating the fact that <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-industries-profit-grows-6-8-even-as-gross-refining-margin-hits-the-lowest-in-18-quarters/articleshow/70294401.cms" data-type="tilCustomLink" target="_blank">the company's mainstay petrochemicals business</a>was not doing as badly as they had feared. That alone was enough to prop up RIL's share price by over 2% on Monday. The Mukesh Ambani-owned company has seen very good traction in its relatively new businesses like Reliance Jio and Reliance Retail but, as many analysts have pointed out, the core businesses petrochemicals and refining -- which make for the lion's share of the company's gross revenue-- are under threat. "Reduction in heavy crude oil supply post US sanctions, global refining capacity addition this year exceeding expected incremental demand, and slowdown in petchem demand as a result of the US-China spat will weigh on RIL’s refining and petchem business," a HDFC Securities report said. Tech: Tightrope walk India's top-tier software and IT service companies, TCS and Infosys, have had a bittersweet response from investors so far. The slowdown in TCS' revenue and profit were on expected lines, according to the broking house Motilal Oswal. But investors have been driven the stock down since the earnings despite the company <a href="https://www.businessinsider.in/tcs-plans-to-hire-18000-freshers-in-next-3-months/articleshow/70146189.cms" data-type="tilCustomLink" target="_blank">hinting at a double-digit growth</a> for the full year. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 Infosys did not have a standout quarter but the optimism in its outlook had investors upbeat. Infosys had projected a total growth 8.5% to 10% for the full year ending March 2020, which would imply a compounded quarterly growth 1.6% to 1.9%, according to a BOBCAPS research report. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 SEE ALSO: <a href="https://www.businessinsider.in/wipro-profit-growth-beats-tcs-and-infosys/articleshow/70262851.cms" data-type="tilCustomLink" target="_blank">Share buybacks and new deals are keeping the hopes up for Wipro's investors</a>

Six Indian blue-chip companies have declared earnings so far - most of them lack the 'markets mojo'

<ul><li>The Indian benchmark indices dropped nearly 2% on fears of rising Omicron cases while the market awaits RBI’s monetary policy decision on December 8.</li><li>Sensex fell more than 950 points led by losses in shares of IT stocks, auto stocks.</li><li>IndusInd Bank, <keyword id="8836175" type="General" weightage="20" keywordseo="tata-consumer" source="Orion">Tata Consumer</keyword> Products, Bajaj Finserv, TCS, HCL Tech were the top five losers in Nifty 50.</li></ul>Sudden rise in cases of COVID-19 variant Omicron across India has spooked investors in the market over another lockdown and slowdown in economic activity. Following this, Indian indices -- Sensex and Nifty 50 -- were down nearly 2%. Currently, India has 21 cases of the new variant out of which 17 were detected on December 5. “If this virus quickly spreads in India, then the market will be volatile for the upcoming next two weeks, along with that any further development on the effectiveness of vaccines on [the] new virus [strain] will be key monitorable [sic] for Indian markets,” said Yash Gupta, equity research analyst at Angel One. Here are the top losers on Nifty 50: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers on Nifty 50 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.78% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer Products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.39% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.34% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.24% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.88% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.32% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi’s Laboratories </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.34% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.24% </td></tr></tbody><tbody></tbody></table> At the same time, market participants awaited the Reserve Bank of India’s (RBI) monetary policy outcome on December 8. <a href="https://www.business-standard.com/article/finance/rbi-may-wait-and-watch-say-economists-status-quo-likely-on-all-fronts-121120600021_1.html">Media reports </a>said that RBI may maintain status quo on the repo rate at 4% and the stance being ‘accommodative’. Since the variant was first detected in South Africa, it has spread to more than two dozen countries, including Asian nations like Sri Lanka, India, Japan, Malaysia, Singapore and South Korea. Indian indices were not the only ones fearing the new variant, market sentiment was weak across Asian and the US markets. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian indices and US </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hang Seng (Hong Kong) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.76% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shanghai SE Composite (China) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nikkei 225 (Japan) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.36% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Taiwan TSEC 50 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.05% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sensex </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.66% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nasdaq Composite (close change on Dec 3) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.92% </td></tr></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/mapmyindias-parent-company-ce-info-systems-ipo-will-open-this-week-at-a-price-band-of-1000-1033/articleshow/88118874.cms">MapMyIndia’s ₹1000 crore IPO will open this week at a price band of ₹1,000-₹1,033</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indian-government-is-reportedly-looking-to-regularise-work-from-home-with-a-comprehensive-framework/articleshow/88122325.cms">Indian government is reportedly looking to regularise work from home with a comprehensive framework</a>

Nifty 50 goes below 17,000-mark on rising Omicron cases, fear of lockdown

<ul><li><keyword id="46013" type="CITY" weightage="20" keywordseo="Kotak-Mahindra-Bank">Kotak Mahindra Bank</keyword>, <keyword id="2240511" type="PERSON" weightage="20" keywordseo="Bandhan-Bank">Bandhan Bank</keyword> and <keyword id="46717" type="CITY" weightage="20" keywordseo="IndusInd-Bank">IndusInd Bank</keyword> continue to trade be in the green.</li><li>Kotak Mahindra Bank leads the pack after <keyword id="45051" type="PERSON" weightage="20" keywordseo="Uday-Kotak">Uday Kotak</keyword> announced that he's selling 2.83% of his stake in the bank.</li><li>India's largest bank, the State Bank of India (SBI), reported flat gains with RBL Bank and Bank of Baroda trading in the red. </li></ul>The banking sector is in the green as the Unlock 1.0 comes into effect and market sentiment expects financial services to recover. Kotak Mahindra Bank’s share price <a href="https://www.businessinsider.in/business/news/kotak-mahindra-bank-shares-rally-8-pc/articleshow/76150119.cms">surged by nearly 8%</a> to hit ₹1,348 after Uday Kotak announced he would be selling 2.83% of this stake — worth over ₹6,800 crore. <div type="Article" hostid="261" msid="76141837" title="Billionaire Uday Kotak to sell 2.83% stake worth over ₹6,800 crore in Kotak Mahindra Bank" mstype="2" mssubtype="0"></div> Kotak Mahindra Bank continues to be the top gainer on the stock market followed by Bandhan Bank, IndusInd Bank and Axis Bank. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2675172" data-url="https://flo.uri.sh/visualisation/2675172/embed"></div>]]></cdata></div> However, the light is no longer as bright for three entities, including India’s largest bank, the State Bank of India (SBI). SBI’s share price, along with RBL Bank and Bank of Baroda. SBI ended the day with flat growth with the former two trading in the red despite yesterday’s surge. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock price change (%) </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.57 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bandhan Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.18 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.00 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.31 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.70 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.35 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IDFC First Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">0.85 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Federal Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.04 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-0.26 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bank of Baroda </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-1.18 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">RBL Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-2.08 </td></tr></tbody></table> Refinancing pivots Kotak Mahindra Bank in the lead Before Uday Kotak decided to sell nearly 3% of his take in Kotak Mahindra Bank, it had already announced a qualified institutional placement (QIP) of ₹7,000 crore. This allowed the private lender to raise capital from domestic markets without the need to submit a pre-issue filing with the Securities and Exchange Board of India (SEBI). Despite filing an appeal with the regulator to allow Asia’s richest banker to retain his stake amid the coronavirus pandemic, he is selling his stake to meet the Reserve Bank of India (RBI) mandate of 26%. "Uday Suresh Kotak will sell 56 million equity shares or 2.83% of equity of bank through the block deal. After the dilution, his personal holding will come down to 26.1% from 28.93% now," as per the term sheet. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/yes-bank-is-looking-to-raise-10000-crore-through-fpo-with-kotak-securities-axis-capital-and-sbi-capital-reportedly-to-be-key-players/articleshow/76153458.cms">Yes Bank is looking to raise ₹10,000 crore through FPO – with Kotak Securities, Axis Capital, and SBI Capital reportedly to be key players</a> <a href="https://www.businessinsider.in/careers/news/jp-morgan-sets-aside-17-crore-to-upskill-4800-indian-graduates-for-banking-jobs/articleshow/76152133.cms">JP Morgan sets aside ₹17 crore to upskill 4,800 Indian graduates for banking jobs</a> <a href="https://www.businessinsider.in/stock-market/news/tata-power-hare-price-chart-after-acquisition-of-odishas-power-distribution-and-plans-to-reduce-debt/articleshow/76150469.cms">Tata Power shares jump 4% after company takes over Odisha’s power distribution and announces plans to reduce debt</a>

Kotak Mahindra Bank, Bandhan Bank and IndusInd Bank share prices soar with refinancing pulling them out of the red

<ul><li><keyword id="46717" type="CITY" weightage="20" keywordseo="IndusInd-Bank">IndusInd Bank</keyword>, <keyword id="6986952" type="UNKNOWN" weightage="20" keywordseo="IDFC-First-Bank">IDFC First Bank</keyword>, and <keyword id="97186" type="CITY" weightage="20" keywordseo="JK-Bank">J&amp;K Bank</keyword> stocks are soaring in trade today, led by the <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) committee’s recommendation to increase the cap on promoters’ stake from 15% to 26%.</li><li>The proposed change comes at a time when banks need the infusion of funds to deal with the outcome of the COVID-19 pandemic on borrowers.</li><li>Billionaire Uday Kotak, promoter of <keyword id="46013" type="CITY" weightage="20" keywordseo="Kotak-Mahindra-Bank">Kotak Mahindra Bank</keyword>, may now also be able to cement his position in courts where he was arguing to retain 26% of his shareholding.</li></ul>IndusInd Bank’s shares are up over 4% after the Reserve Bank of India’s (RBI) Internal Working Group (IWG) recommended that the cap on promoters’ stake, in the long run, should be raised from the current level of 15% to 26%. <div type="image" title="indusind bank share price" msid="79363913" hostid="261" caption="&amp;lt;p&amp;gt;IndusInd Bank share price over the last one month&amp;lt;/p&amp;gt;"></div> This brings grand tidings for the bank as its promoter, the Hinduja Group, has indicated its interest to increase shareholding. “We further estimate that, at the current market price, promoters could infuse up to ₹10,000 crore to increase their stake to 26% at the bank versus 14.85% currently,” said Motilal Oswal Financial Services in its report. Other banks are also gaining ground, with Jammu &amp; Kashmir Bank leading the pack, up by 13.3%, and IDFC First Bank also soaring by 6.4%. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in share price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jammu &amp; Kashmir Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.30 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IDFC First Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RBL Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.77% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.14% </td></tr></tbody></table>Source: Nifty/BSE, share prices as of 11:20am Kotak Mahindra Bank’s share price continues to trade flat While Kotak Mahindra Bank’s shares continue to trade flat, the increase in the cap on promoter stake is favourable for its promoter Uday Kotak as well. If accepted, this recommendation may cement the case he’s making to be allowed to retain a 26% stake in Kotak Mahindra Bank. <div type="image" title="kotak mahindra bank share price" msid="79363928" hostid="261" caption="&amp;lt;p&amp;gt;Kotak Mahindra Bank share price over the past one month&amp;lt;/p&amp;gt;"></div> “We view this as a positive development across the banking sector, especially for the promoter-driven banks. This would help promoters have more ‘skin in the game’,” noted Nirmal Bang Securities. According to analysts, increasing the cap on promoters’ sharing holding in banks also levels the playing field for other stakeholders that may have already reduced their shareholder as per RBI’s existing guidelines. The recommendation is also coming at a crucial time when banks need more capital to deal with the outcome of the COVID-19 pandemic after the stay on moratorium is lifted by the Supreme Court. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/how-to-earn-money-at-home-from-googles-task-mate/articleshow/79362215.cms">Google is testing ‘Task Mate’ in India, which lets users earn money for doing tasks on their smartphones</a> <a href="https://www.businessinsider.in/tech/apps/news/hdfc-banks-net-banking-upi-services-and-atms-down-due-to-data-centre-outage/articleshow/79344484.cms">HDFC Bank’s net banking, UPI service and ATMs were down due to a 'data centre outage' but RBI demands more detailed information</a> <a href="https://www.businessinsider.in/science/environment/news/mount-everest-home-to-microplastics-and-melting-glaciers/articleshow/79324609.cms">Microplastics found at the highest point on Earth as the glaciers around Mount Everest’s death zone melt</a>

IndusInd Bank surges over 4% after RBI committee proposes to increase the cap on promoter stake in private sector banks

<ul><li>The SGX Nifty was trading 0.23% higher at 7:55 am, indicating a higher start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the global markets, the Indian equities are likely to open higher on Monday. The SGX Nifty was trading 0.23% higher at 7:55 am, indicating a positive opening for Nifty50. These are the stocks to watch out for during the trading session on October 26: Future Retail and RIL The Singapore arbitration court ruled in favour of American e-commerce giant Amazon with regard to the Future-RIL deal. The court has directed Kishore Biyani’s led Future Group to not proceed with Mukesh Ambani’s Reliance Retail deal until the outcome of the arbitration process. The shares of Future Retail and RIL ended 4% and 0.24% higher, respectively, on Friday. DHFL According to PTI reports, the committee of creditors (CoC) of debt-ridden DHFL is scheduled to meet today to take a call on four bids received as part of the resolution process for the beleaguered firm. The four bidders include Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-based SC Lowy. The shares of DHFL ended 5% lower on Friday. IndusInd Bank and Kotak Mahindra Bank The Mauritius-based, IndusInd Bank promoter, IndusInd International Holdings Ltd (IIHL) refuted <a href="https://www.cnbctv18.com/finance/indusind-bank-says-report-on-merger-with-kotak-mahindra-bank-is-untrue-and-malicious-7297331.htm">media reports claiming that</a> Kotak Mahindra Bank may take over the bank. The shares of IndusInd Bank and Kotak Mahindra Bank ended 0.3% and 0.5% lower, respectively, on Friday. ICICI Bank The Indian multinational Bank, ICICI Bank has shut its operations in Sri Lanka after getting approval from the Sri Lankan monetary authority. The shares of ICICI Bank ended 0.84% higher on Friday. Vedanta Vedanta on Saturday said its board has approved the first interim dividend of ₹9.50 per share amounting to ₹35 billion. The shares of Vedanta ended flat on Friday. Tata Motors Tata Motors on Friday told investors that it has bagged an order for 6,413 vehicles from Andhra Pradesh State Civil Supplies Corporation. The company said it emerged as the top bidder under the terms and conditions set by the government. The shares of Tata Motors ended 3% higher on Friday. Tech Mahindra Tech Mahindra<a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-q2-maring-expansion-and-acquisitions/articleshow/78827612.cms"> reported a 5% year-on-year drop in its profit to ₹1,065 cror</a>e for the quarter ended September 30. Although the profit was up 9.5% compared to the sequential quarter. The company generated revenue of ₹9,372 crore, up 3.3% year-on-year. The shares of Tech Mahindra ended 1% higher on Friday. Yes Bank The private sector lender, Yes Bank is back in the black after reporting a net profit of ₹129 crore for the second quarter ended September 30. The bank had posted a net loss of ₹600 crore in the corresponding quarter last year. However, the bad loans in Yes Bank’s portfolio remained elevated. The shares of Yes Bank ended 5% higher on Friday. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/the-first-satellite-with-ai-onboard-is-now-in-orbit-and-its-tech-could-completely-change-how-we-respond-to-wildfires/articleshow/78858333.cms" data-type="tilCustomLink">The first satellite with AI onboard is now in orbit, and its tech could completely change how we respond to wildfires</a> <a href="https://www.businessinsider.in/stock-market/news/the-stock-market-has-historically-performed-better-when-the-incumbent-president-wins-reelection-according-to-one-analysis/articleshow/78858968.cms" data-type="tilCustomLink">The stock market has historically performed better when the incumbent president wins reelection, according to one analysis</a>

Top stocks to watch — Future Retail, RIL, IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, Tata Motors, Tech Mahindra, Yes Bank and others

<ul><li><keyword id="151330" type="COMPANY" weightage="20" keywordseo="Bank-Nifty">Bank Nifty</keyword>, the index of India's top banking stocks, is down 7% for the week hours before the trading on Friday concluded.</li><li>IndusInd Bank topped the list of weekly losers with a cut of nearly 20%.</li><li>Fitch estimates that a total of ₹5.5 trillion, about 5.7% of India's total outstanding loans, may witness defaults due to the economic stress dealt by the COVID-19 pandemic. </li><li>The Reserve Bank of India brought the interest rates down for the fifth time in a year to 4% now, the lowest since 2000.</li></ul>Bank Nifty, the index of India's top banking stocks, is down 7% for the week hours before the trading on Friday concluded. IndusInd Bank topped the list of weekly losers with a cut of nearly 20%. Shareholders of Indian banks are dumping their stock fearing a fresh surge in loan defaults as ₹2 in every ₹5 is lent to sectors like <a href="https://www.businessinsider.in/business/news/from-spicejet-to-oyo-to-mahindra-all-want-msme-tag-for-partners/articleshow/75821961.cms" data-type="tilCustomLink" target="_blank">tourism, hotels, and restaurants</a>, which are part of the medium-to-high-risk segments in the post-COVID world. The sell-off in banking stocks escalated on Friday (May 22) despite <a href="https://www.businessinsider.in/personal-finance/news/interest-payments-on-home-loans-car-loans-and-others-extended-by-another-three-months-by-rbi/articleshow/75884387.cms" data-type="tilCustomLink" target="_blank">the fifth cut in benchmark interest rates</a> in a year by the Reserve Bank of India. The <keyword id="43352" type="PERSON" weightage="20" keywordseo="Repo-rate">repo rate</keyword>, the interest that the central bank charges for lending money to banks, is now at 4%, the lowest since 2000. <div type="image" title="interest rates" msid="75884429" hostid="261" caption="&amp;lt;p&amp;gt;The benchmark interest rates in India have never been as low as 4% since the turn of the century.&amp;lt;/p&amp;gt;"></div> Not just that, the government also announced <a href="https://www.businessinsider.in/finance/news/india-puts-a-pause-on-new-bankruptcy-cases-for-a-year-and-other-changes-that-will-cap-the-rise-in-bad-loans/articleshow/75785508.cms" data-type="tilCustomLink" target="_blank">a pause on classifying loan defaults as bad loans</a>, and initiating new insolvency cases, for the next one year due to the debilitating impact of COVID-19 pandemic on the economy. However, none of these measures were good enough for the markets. <div type="Article" hostid="261" msid="75883216" title="DMart's quarterly sales may fall 25% but the shares are already up 35% ⁠— the retailer is now bigger than Maruti, Nestle and HCL Tech" mstype="2" mssubtype="0"></div> These are the top losers on the Bank Nifty this week: <table style="width: 188pt;"> </colgroup> <tbody><tr> <td class="xl63" style="height:15.0pt;width:95pt">Stock </td> <td class="xl63" style="border-left-width: initial; border-left-style: none; width: 93pt;">This week</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">IndusInd Bank</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-19.19%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Federal Bank</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-14.63%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Axis Bank</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-13.28%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">RBL Bank</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-11.29%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Bank of Baroda</td><td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-9.98%</td></tr></tbody></table> The stocks look cheap as the Bank Nifty has already lost over 46% this year so far, but as ICICI Securities put it in a report dated May 13, "valuations are tempting but the risks outweigh rewards." Indian banks had barely cleaned up the massive pile of unpaid loans from the country’s corporates. The total non-performing assets (NPA) in India was estimated at over ₹9 lakh crore at the end of September 2019. The coronavirus pandemic is spiralling into an economic crisis that may bring a fresh wave of defauts ⁠— this time from the small borrowers. Fitch estimates that <a href="https://www.indiainfoline.com/article/news-top-story/banking-sector-beginning-new-npa-cycle-in-aftermath-of-covid-19-ind-ra-120052200246_1.html" data-type="tilCustomLink" target="_blank">a total of ₹5.5 trillion, about 5.7% of India's total outstanding loans,</a> may witness defaults due to the economic stress dealt by the COVID-19 pandemic. The report also added that every government-owned bank in India will need an additional capital of ₹30,000 crore to ₹55,000 crore. In an exclusive chat with <a href="https://twitter.com/BiIndia/status/1248562052337033216">Business Insider on April 10</a>, Vijay Shekhar Sharma, the billionaire founder of Alibaba-backed Paytm, said this will be the ‘biggest nightmare’ for India in 2020. With the <keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword> extending the <keyword id="117489" type="PERSON" weightage="20" keywordseo="moratorium">moratorium</keyword> on loan repayments till August 31, it is likely that more borrowers may take the option. <div type="image" title="moratorium" msid="75885416" hostid="261" caption="&amp;lt;p&amp;gt;If more borrowers opt to defer loan repayments, it will hurt banks&amp;#39; earnings in the short term. They may earn interest on the prolonging of the loan tenure.&amp;lt;/p&amp;gt;"></div> Moreover, the chiefs of major lenders like Axis Bank and <a href="https://www.businessinsider.in/business/news/kotak-mahindra-bank-q4-profit-down-4-pc-to-rs-1952-cr/articleshow/75712873.cms" data-type="tilCustomLink" target="_blank">Kotak Mahindra Bank</a> have already said that they will be more cautious while making loans hereon, and that will have an impact on future earnings of the banks too. Even the corporate lobby says that the interest rate cuts are good, but not good enough. "...a new phenomenon is visible," ASSOCHAM Secretary General Mr Deepak Sood said. "Along with the risk aversion by the banks to lend, even the borrowers are apprehensive about increasing debts on their balance sheets in the face of a grave economic situation... Under such circumstances, restructuring of debts on a wider scale and a willingness to share the grave consequences of the global pandemic are essential." All in all, the business environment for banks seems to fraught with risks and investors don't have the appetite for it. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/interest-payments-on-home-loans-car-loans-and-others-extended-by-another-three-months-by-rbi/articleshow/75884387.cms?upache=2">No EMI payments for six months as RBI extends moratorium on loans repayments till August 31</a> <a href="https://www.businessinsider.in/finance/news/yes-bank-share-price-net-loss-and-drop-in-deposits-post-q4-earnings/articleshow/75590798.cms" data-type="tilCustomLink" target="_blank">Yes Bank fears more deposits may disappear when COVID-19 moratorium ends and people start repaying loans</a> <a href="https://www.businessinsider.in/business/corporates/news/axis-bank-q4-earnings-show-bad-loans-ease-but-ceo-amitabh-chaudhry-maintains-caution/articleshow/75429938.cms" data-type="tilCustomLink" target="_blank">Axis Bank CEO says lending will be 'cautious' despite easing stress from bad loans in the latest fourth quarter</a>

You Searched For "IndusInd Bank share price" and got 10 results

IndusInd Bank shares skyrocket by 10% as its customers choose not to defer paying off loans

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Nifty 50 goes below 17,000-mark on rising Omicron cases, fear of lockdown

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IndusInd Bank surges over 4% after RBI committee proposes to increase the cap on promoter stake in private sector banks

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Top stocks to watch — Future Retail, RIL, IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, Tata Motors, Tech Mahindra, Yes Bank and others

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India's banking stocks are down 7% this week despite a rate cut by RBI and a pause on new bad loans and bankruptcies

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