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RBI approves Dipak Gupta’s appointment as interim chief of Kotak Mahindra Bank

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The Reserve Bank of India has approved the appointment of Dipak Gupta as Interim Managing Director and CEO of Kotak Mahindra Bank for a two-month term. Gupta oversees many of the bank’s responsibilities as head of IT, cybersecurity, customer experience and business intelligence, and previously served as co-managing director. Gupta’s involvement with Kotak dates back …

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August inflows: India defies market volatility with strong foreign investment

Market Update

India attracted the highest level of foreign investment in August compared to developed and emerging markets, even after major stock indexes fell eight times in the past 14 trading sessions. Foreign investors have poured 1.11 billion USD into domestic securities since August, while withdrawing investment money from other markets. Taiwan recorded the highest capital outflow …

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Motilal Oswal raises Nifty50 EPS outlook by 2.5% on robust corporate earnings

Market Update, Stock Market

Motilal Oswal increased its FY24 earnings forecast for Nifty 50 shares by 2.5% to Rs 988 on the basis of strong business results that look strong enough to support India’s growing economic outlook. . Smart companies reported 32% growth in profits in the June quarter. The earnings distribution was particularly positive, with 62% of total …

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SoftBank offloads another 2% stake in Paytm for $250-300 million

Leave a Comment / Market Update, Stock Market

SoftBank has sold another 2 percent stake in Paytm`s parent One97 Communications Ltd, its biggest listed investment in India, over the past month via open market operations, generating about $300 million, in another instance of the Japanese investor monetising its bets in the country, its third-largest investment destination amid a funding drought. SoftBank has been …

SoftBank offloads another 2% stake in Paytm for $250-300 million Read More »

DMart shares open 1% lower after margins fall in Q1

Leave a Comment / Market Update, Stock Market

Avenue Supermart shares fell 1% in early trading on July 17 after the company reported a 140-basis-point decline in its EBITDA margin for the June quarter. The EBITDA margin for the April-June quarter was 8.9%, down 140 basis points from a year ago, the company said. Neville Noronha, Chief Executive Officer and Managing Director of …

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Brokerages maintain buy rating on Federal Bank post June quarter earnings

Leave a Comment / Market Update, Stock Market

Many brokerages maintained their stock ratings and price targets after June’s quarterly results. Federal Bank Limited shares were flat on July 14 after the company announced weak June 2023 quarterly results, with many brokerages maintaining their stock ratings and price targets. On the BSE, the shares were trading at 127 rupees, up 0.04% from the …

Brokerages maintain buy rating on Federal Bank post June quarter earnings Read More »

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