HDFC Bank Ltd., the country’s largest private-sector bank by assets, stayed at the top of the ranking with a market cap of 13.6 trillion rupees, up 2.6% from the previous quarter. Two other private-sector banks, The Federal Bank Ltd. and ICICI Bank Ltd., also logged an increase in market cap for the quarter, with Federal Bank gaining 1.7% to 490.7 billion rupees and ICICI Bank 0.9% to 9.05 trillion rupees.
Prices of cereals rose by 6.5% from a 6.88% increase in November, while those of pulses rose 3.83% compared to a 5.41% growth in the same period.
The Indian rupee logged its steepest single-day fall in nearly two years and ended the session 66 paise down at its historic low of 86.70 against the US dollar on Monday, weighed down by a stronger American currency and surging crude oil prices.
The bank has booked profits consistently for the last four Financial Years i.e., Rs.1,359 cr. 2020-21; Rs.2,439 cr. 2021-22; Rs.3,645 cr. 202223 and Rs.5,634 cr. 2023-24 and is likely to end up with Rs.7,000 cr. profit during the current Financial Year (2024-25). Gross NPA and Net NPA of IDBI have gone down historically low to 3.68% and 0.20% respectively and provision coverage ratio to 99.42%.
Among key categories, vegetable inflation dropped to 26.56% from 29.33%, pulses inflation moderated to 3.83% from 5.41%, and fuel and light inflation improved to -1.39% from -1.83%.
Stronger-than-expected US employment data released last Friday rattled global markets, diminishing hopes for an early rate cut by the Federal Reserve. With the US unemployment rate dipping to 4.1% in December and robust job growth, analysts now predict fewer rate cuts in 2025.
This iconic religious event sees elaborate security measures in place, with 40,000 police officers deployed and AI-powered surveillance cameras ensuring uninterrupted monitoring of the massive crowds.
The US dollar surged on expectations that the Federal Reserve will not cut rates by much this year, Reuters reported quoting traders.
The Finance Ministry is set to meet the chiefs of Public Sector Banks (PSBs) on Wednesday to review thier performance
The better-than-expected US payroll data affirmed the case for Federal Reserve officials to keep interest rates on hold for the foreseeable future, in the face of lingering inflation and political uncertainty. That gave the dollar a boost Friday, while pushing up US Treasury yields.