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On January 4, 2025, stock market updates reveal a paradox where a struggling economy contrasts with one of Europe's top-performing stock exchanges. Experts recommend six stocks under ₹100 to buy on January 6, including Yes Bank and IDFC First Bank. Additionally, Coforge is poised for significant passive fund inflows due to its anticipated inclusion in the MSCI Standard Index.
India's GDP growth slowed to 5.4% in Q2, the lowest in seven quarters, driven by a significant decline in mining and subdued manufacturing. Economists urge the government to increase infrastructure and revenue spending to stimulate demand and reverse this trend, as capital expenditure fell notably in the first half of the fiscal year.
Maharashtra is set to experience fiscal challenges in FY 2025 due to commitments made by the BJP-led Mahayuti alliance following their recent electoral victory. The alliance plans to increase monthly financial assistance to women from Rs 1,500 to Rs 2,100, which could add an estimated Rs 5,600 crore to state expenses by March 2025, potentially pushing the fiscal deficit beyond the 2.6% GSDP target.
Zomato will replace JSW Steel in the Sensex index starting December 23, as announced by BSE. Additionally, several changes will occur in other indices, with companies like Ashok Leyland and IDFC First Bank being dropped from BSE 100, while Jio Financial Services and others will be added. In the BSE SENSEX 50, HDFC Life, BPCL, and LTI Mindtree will be replaced by Zomato, Jio Financial, and HAL.
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.
Nilesh Shah, Managing Director of Kotak Mahindra Asset Management, stated that foreign investors exiting the Indian markets will need to pay double to re-enter. Speaking at the CNBC-TV18 Global Leadership Summit, he emphasized that while corrections present buying opportunities, those with a one-year investment horizon should avoid equities due to potential risks.
V. Vaidyanathan, MD & CEO of IDFC First Bank, expressed optimism about corporate loans, citing a five-year record of no delinquencies. He emphasized the bank's commitment to supporting non-banking financial institutions facing RBI regulatory actions, confident they will recover once restrictions are lifted. The bank's corporate loan book grew 20.7% year-on-year, reaching Rs 63,321 crore as of September 30.
V. Vaidyanathan, MD & CEO of IDFC First Bank, expressed optimism for a recovery in profits by the third quarter, despite a challenging second quarter. The bank has extended loan repayment terms for microfinance institutions to 90 days to support their customers, and has collected Rs 600 crore of its Rs 1,100 crore exposure in the infrastructure sector, with further collections expected through government procedures. The bank will continue to transparently disclose its special mention accounts in investor presentations.
IDFC First Bank's shares plummeted over 9% following a reported 73% drop in Q2 net profit, which fell to Rs 200.7 crore from Rs 751 crore a year earlier. Despite this decline, the bank's Net Interest Income (NII) rose 21% to Rs 4,788 crore. Motilal Oswal maintained a 'neutral' rating with a price target of Rs 73 per share.
Indian markets continued their decline for the fifth consecutive session on October 25, with the Nifty dropping to 24,180.80, down 0.90%, and the Sensex falling 662.87 points to 79,402.29. All sectors, except FMCG, faced losses, with notable declines in auto, capital goods, and metal. For the week, both BSE Sensex and Nifty50 recorded losses exceeding 2%.
IDFC First Bank Limited
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
european stock market shines despite economic challenges and investment opportunities emerge
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IDFC First Bank Limited
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02:07 04.01.2025
India's GDP growth slows to 5.4 percent amid calls for increased spending
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15:55 29.11.2024
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13:39 22.11.2024
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06:12 21.11.2024
Nilesh Shah warns foreign investors of higher costs to re-enter Indian markets
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10:38 14.11.2024
IDFC First Bank supports NBFCs amid regulatory challenges and maintains loan growth
07:08 28.10.2024
IDFC First Bank CEO optimistic about recovery in profits by next quarter
06:01 28.10.2024
IDFC First Bank shares plunge 9 percent after profit falls 73 percent
04:46 28.10.2024
Indian markets decline for fifth session as selling pressure persists
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03:07 28.10.2024
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