Mumbai: State Bank of India shares fell 2.2% on Monday, underperforming a largely flat market, even after the country’s largest lender’s June-quarter earnings came in above analyst expectations.
The stock closed at ₹1,072 even as most brokerages retained their positive stance on the lender following the results. Several firms, including Citi, HSBC, CLSA and JP Morgan, raised their target prices, while maintaining bullish recommendations.
Agencies
consensus price implies 17% upside, but stock falls
The consensus 12-month target price stands at ₹1,255.14, implying an upside of about 17.1% from Monday’s closing price of ₹1,072.
Mumbai: Money managers have slashed cash holdings in equity mutual fund portfolios to the lowest in five years, using recent declines in large private bank and IT stocks as an opportunity to put the money to work. Cash holdings as a percentage of total equity assets under management (AUM) fell to ₹1.33 lakh crore, or…
Switching jobs may no longer require one of the most time-consuming Employees’ Provident Fund (EPF) formalities. The (EPFO) has announced that provident fund balances linked to an Aadhaar-seeded Universal Account Number (UAN) will now move automatically when an employee joins a new organisation, eliminating the need to submit a separate transfer request. The change follows…
Introduction: In this article, I’ll delve into the intricacies of Flexi Loans, shedding light on how they operate and the advantages they offer to borrowers. Flexi Loans, often provided by financial institutions, are a dynamic borrowing option that allows individuals to manage their finances with unprecedented flexibility. Unlike traditional loans, which come with fixed…
Dhoot Transmission Ltd has raised Rs 918.27 crore from 72 anchor investors ahead of its Rs 3,067 crore initial public offering, allotting 1,05,42,657 equity shares at the upper price band of Rs 871 apiece. The shares have a face value of Rs 2 each, including a share premium of Rs 869 per equity share. Domestic…
Gold and silver prices: The price of the yellow metal in India’s retail market declined on Friday, 24 July, amid continued uncertainty and tensions between the United States and Iran. The recent attacks on tankers in the Red Sea have once again raised the possibility of persistent inflation in the foreseeable future due to elevated…
Shares of state-owned Cochin Shipyard declined 2% to their day’s high of Rs 1,418 on the BSE on Wednesday as the Centre’s Offer for Sale (OFS) opens for retail investors, following strong demand in the non-retail portion on Tuesday. The government is looking to divest up to a 5.04% stake in the state-run shipbuilder through…
Agencies
