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State Bank of India launches new unit for AI and fintech project finance

State Bank of India is establishing a dedicated unit for AI and fintech project finance. This initiative aims to enhance the bank's capabilities in financing innovative technology-driven projects, positioning it at the forefront of the evolving financial landscape.

State Bank of India launches unit for AI and fintech project finance

State Bank of India is establishing a dedicated unit for AI and fintech project finance. This initiative aims to enhance the bank's capabilities in financing innovative technology-driven projects, positioning it at the forefront of the evolving financial landscape.

Jio Financial Services to acquire SBI stake in Jio Payments Bank

Jio Financial Services will acquire State Bank of India's stake in Jio Payments Bank for INR 104.54 crore. Currently, JFS holds 82.17% of the paid-up equity share capital of JPBL, which was established in 2016 as a partnership between Reliance Industries and SBI. As of November 11, 2024, JPBL's net worth is reported at INR 104.26 crore.

India emphasizes bilateral relations as key to global trade and investment growth

Bharat Electronics is set to announce its first interim dividend for FY25, while Finance Minister Nirmala Sitharaman emphasizes the need for India to enhance bilateral relations for trade and investment amid a shifting global landscape. She notes that multilateral institutions are losing effectiveness, making bilateral agreements increasingly vital for economic growth.

ubs maintains sell rating on state bank of india despite earnings beat

UBS has maintained a Sell rating on State Bank of India shares, setting a price target of INR 760, despite a third-quarter profit after tax of Rs 168.9 billion that exceeded expectations. Concerns include declining net interest margins and rising credit costs, alongside a lower core pre-provision operating profit compared to large private banks.Goldman Sachs also holds a Sell rating but has raised its price target to INR 780, citing potential challenges in loan growth and an anticipated increase in credit costs, particularly in the MSME and agriculture sectors. The bank's valuations have been re-rated, focusing on the narrowing spread between return on equity and cost of equity.

ubs maintains sell rating on state bank of india despite profit beat

UBS analyst Vishal Goyal has reiterated a sell rating on State Bank of India shares, setting a target price of INR 760, despite the bank's third-quarter net profit of INR 168.9 billion exceeding expectations. Concerns remain over declining net interest income, rising deposit costs, and a projected slowdown in return on assets due to increasing credit costs. Goldman Sachs also maintains a sell recommendation, raising its price target to INR 780, citing challenges in loan growth and potential credit cost increases from rising defaults in key sectors.

sensex faces historical declines during kumbh mela festivals over two decades

The Sensex has consistently posted negative returns during the Kumbh Mela festivals over the past two decades, with an average loss of 3.42%. Historical data shows that the highest decline occurred between July and September 2015, when it fell by 8.29%. This trend may be influenced by cultural shifts and investor behavior during the pilgrimage period.

Top Firms Gain Rs 2 Lakh Crore as TCS and HDFC Bank Lead

The combined market valuation of six of the top-10 most-valued firms increased by Rs 2,03,116.81 crore last week, driven by gains from Tata Consultancy Services (TCS) and HDFC Bank. The BSE benchmark rose by 1,906.33 points, or 2.38%, while the NSE Nifty climbed 546.7 points, or 2.26%. TCS's market valuation surged by Rs 62,574.82 crore, reaching Rs 16,08,782.61 crore.

SBI and Tata Mutual Funds Acquire Stake in Ratnamani Metals and Tubes

On December 4, approximately 9.75 lakh shares were traded through block deals, with SBI MF and Tata MF acquiring stakes in Ratnamani Metals and Tubes. Additionally, Saltoro Alpha LP purchased 1.72 lakh shares (0.33% stake) of Marathon Nextgen Realty Ltd at Rs 591.5 per share, with Copthall Mauritius Investment Limited as the seller.

NSE adds 45 new stocks to futures and options trading segment

The National Stock Exchange (NSE) has expanded its futures and options (F&O) segment by adding 45 new stocks, effective November 29, 2024, increasing the total to 223. This inclusion, following SEBI’s revised criteria, aims to enhance liquidity and market participation, featuring notable stocks like LIC, Jio Financial Services, and Zomato. Analysts anticipate that this move will boost trading volumes and improve price discovery for these stocks.
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