Even as it has decided to sell off the retail accounts and credit cards business, the bank has indicated that there won’t be any layoffs or closure of offices in India.
Traders should shift focus to stock-specific opportunities as directional trade on the index will emerge only on a close above 14,900, Mazhar Mohammad of Chartviewindia has said.
The index has to cross and hold above 14,750 to witness an up move towards 14,900 and 15,000, while on the downside, support exists at 14,600 and 14,500 levels, say experts.
The bullion metal has been stuck in a narrow range in the last few sessions amid a lack of direction. It declined by Rs 282, or 0.63 percent during the week in the domestic market.
Now the government has shortlisted four mid-sized state-run banks for privatisation. Earlier, the government was considering only two public sector banks but now it plans to privatise four banks.
The economic offences wing (EOW) of the Mumbai Police on Tuesday arrested Cox and Kings (CNK) promoter Ajay Ajit Peter Kerkar and two other senior executives of the firm, in connection with ₹1,030 crore Axis Bank loan fraud case.
Choksi, along with his nephew Nirav Modi, is accused of allegedly perpetrating a Rs 13,500-crore fraud through Letters of Understanding (LoUs) of Punjab National Bank.
Since past few years, the central government is leaving no stone unturned to extradite all those businessmen, who fled the country, soon after charges of financial irregularities and fraud were registered against them by probe agencies.
Indian shares closed at a record high on Tuesday, boosted by gains in mortgage lender HDFC and hopes that the country’s emergency approvals of coronavirus vaccines would lead to a quick economic recovery.
Fines of RS 25 crore and RS 15 crore have been imposed on Reliance Industries Ltd (RIL) and Mukesh Ambani, respectively.
India’s financial sector should brace for challenging times ahead with an increased risk of deterioration in asset quality and lower demand for loans, the Reserve Bank of India (RBI) said in a report on Tuesday.
Indian shares closed at record highs on Monday, driven by gains in private-sector lenders, as global sentiment improved after U.S. President Donald Trump approved a pandemic relief package.
BMW Group India today announced the launch of the BMW Facility NEXT in Thiruvananthapuram. EVM Autokraft now represents BMW and BMW Motorrad in the largest sales and service facility in Thiruvananthapuram. Based on the latest BMW Facility NEXT framework, the new facility showcases the exclusive range of both BMW cars and BMW Motorrad motorcycles.
Oil dropped towards $50 a barrel on Tuesday, adding to losses from the previous session, as a new coronavirus strain in the United Kingdom revived concerns over demand recovery.