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Analyst Tracker: Kotak Mahindra Bank stock gets most brokerage rating upgrades in May

Kotak Bank s cheap valuations and a fall in gross NPAs have prompted brokerages to upgrade their ratings on the stock. Although RBI restrictions could affect the growth, the stock price correction has factored in the impact, say analysts. ....

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Banks shine brightest in otherwise pale FY23 for India Inc

The banking sector emerged as an outlier when the rest of India Inc witnessed a slowdown in earnings in FY23.

The combined net profit of listed public and private sector banks was up 39.4 per cent year-on-year (YoY) last financial year and their share in India s gross value added (GVA) or gross domestic product (GDP) at factor cost rose to a record high of nearly 1 per cent up, from 0.8 per cent a year ago.

Listed banks combined net profit grew to Rs 2.36 trillion in FY23, from Rs 1.69 trillion a year ago. In comparison, India GVA at current prices was up 15.2 per cent YoY at Rs 247 trillion in FY23; it was around Rs 214 trillion a year ago. ....

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Banks shine brightest in otherwise pale FY23 for India Inc

Banks shine brightest in otherwise pale FY23 for India Inc
thenorthlines.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenorthlines.com Daily Mail and Mail on Sunday newspapers.

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Adapting to Change- Business News


Adapting to Change
Rapid digitisation and scaling up of non-banking businesses, from cards to insurance and MFs to YONO, have helped SBI transform itself
Dinesh Kumar Khara, Chairman, State Bank of India
A week ago, Dinesh Kumar Khara, 59, the new Chairman of India s largest bank, State Bank of India (SBI), had said the elephant is ready to dance . Khara s optimism shows up in the bank s stock market performance where its share price doubled since he took charge in October 2020.
The reasons are a greater control over asset quality deterioration, robust base of low-cost deposits, retail banking acceleration in mortgages and institutional set-up for housing loans gone bad and financing long-term infrastructure projects. Also, the bank s subsidiaries are already firing on all cylinders. Be it SBI Cards or SBI Life, the higher market valuations indicate the future scaling-up of these businesses. ....

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