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Australian fintech firm Findi has acquired Bankit Services for AU$30 million, enhancing its merchant network to over 180,000 across 12,000 pin codes in India. This strategic move aims to improve financial inclusion by transforming merchants into local financial hubs, addressing gaps in service usage, particularly in underserved areas. The acquisition reflects a broader trend of consolidation in India's competitive fintech landscape, where scale is becoming essential for survival.
UBS has upgraded Bank of Baroda from Neutral to Buy, raising its price target to Rs 290, citing improving loan growth, stable margins, and attractive valuation. The bank is expected to achieve around 12% loan growth driven by retail and MSME segments, with modest net interest margin pressure. Despite past underperformance, UBS sees potential for a turnaround, indicating a favorable risk-reward scenario.
UBS has upgraded its ratings for State Bank of India (SBI) and Bank of Baroda (BoB), citing improved growth outlook due to anticipated monetary policy easing by the Reserve Bank of India. BoB is favored for its attractive valuations, while SBI's upgrade to 'Neutral' reflects balanced risk-reward dynamics, with a raised price target of ₹840. BoB's stock is upgraded to 'Buy' with a target of ₹290, supported by healthy loan growth and stable asset quality.
UBS has upgraded State Bank of India (SBI) to ‘Neutral’ from ‘Sell’ and Bank of Baroda (BoB) to ‘Buy’ from ‘Neutral’, citing improved liquidity and attractive valuations. SBI's liquidity has surged to a surplus of Rs 8 lakh crore, while BoB is expected to benefit from a healthier loan mix despite past challenges. The revised price targets are Rs 840 for SBI and Rs 290 for BoB.
UBS has upgraded Bank of Baroda's stock rating from Neutral to Buy, raising the target price to INR290 from INR270, citing improved loan growth prospects and stable asset quality. The bank's conservative lending practices and favorable regulatory changes are expected to enhance liquidity and consumption, supporting a projected loan growth of 12% from 2025 to 2027. Despite a 16% decline in stock price over the past year, the current valuation is seen as undervalued, presenting a favorable investment opportunity.
India's stock market faced a significant downturn, with the Sensex plummeting over 1,200 points and the Nifty dropping 1.4%, following the confirmation of two Human Metapneumovirus (HMPV) cases in Karnataka. The sell-off affected various sectors, including PSU banks and real estate, as investors reacted to the ongoing virus outbreak in China. Despite government reassurances about monitoring the situation, fears of further impacts on the economy led to increased volatility, with the India VIX rising by 13%.
Nifty PSU Bank index surged 7% over two days, driven by strong performances from SBI, Central Bank, PNB, and Bank of Baroda, following the BJP-led Mahayuti alliance's victory in Maharashtra elections. This rally occurred amid a positive market sentiment, with benchmark indices Sensex and Nifty also gaining up to 5%.
Gautam Adani faces US bribery charges linked to a $250 million scheme, causing significant declines in Adani Group stocks, which fell up to 25% on November 21. The group's market capitalization dropped by Rs 2.2 lakh crore, impacting related companies and major lenders like SBI and PNB, whose stocks fell by up to 7%.
Adani Group stocks plummeted following Gautam Adani's indictment in New York for alleged bribery and fraud, leading to a significant sell-off in public sector lenders like SBI, BoB, and PNB. Analysts view this as a temporary reaction, suggesting it presents a buying opportunity due to the banks' strong fundamentals and improved asset quality. They anticipate recovery as the Adani Group provides further clarity on the situation.
Bank stocks experienced a sharp decline on November 21, driven by a broad market sell-off and bribery allegations against Gautam Adani and his executives. Most banking stocks fell, with major public sector banks like State Bank of India and Bank of Baroda losing 4-8%, while private sector banks showed relatively better performance.Following the Hindenburg report in January 2023, several banks disclosed their exposure to the Adani Group, with Life Insurance Corporation reporting Rs 35,920 crore and State Bank of India revealing approximately Rs 27,000 crore in total exposure.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Australian fintech firm expands in India with 19 million dollar Bankit acquisition
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09:25 14.04.2025
ubs upgrades bank of baroda citing loan growth and stable margins
12:19 04.04.2025
ubs upgrades state bank of india and bank of baroda stocks
07:39 04.04.2025
ubs upgrades state bank of india and bank of baroda ratings
07:39 04.04.2025
ubs upgrades bank of baroda to buy raises target to inr290
17:30 03.04.2025
stock market plummets amid concerns over human metapneumovirus outbreak in india
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Nifty PSU Bank index surges 7 percent amid positive market sentiment
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09:46 25.11.2024
adani group faces market turmoil after us bribery charges
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10:27 21.11.2024
psu bank stocks decline amid adani group's legal challenges analysts see buying opportunity
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09:19 21.11.2024
bank stocks plunge amid adani bribery allegations and market sell-off
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06:12 21.11.2024
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