Feed aggregator

PSU banks sink up to 40% in 2025. Can SBI’s leadership, policy tailwinds drive a comeback?

Business News - May 5, 2025 - 12:08pm
Stocks of public sector banks have had a lackluster run on Dalal Street in 2025 so far, significantly underperforming not just private banks but also the broader Nifty, with some falling by up to 40%. With the tailwinds of lower interest rates, the RBI’s accommodative stance, and decent earnings, can PSU banks engineer a comeback? Here’s what experts say.The average year-to-date (YTD) return of PSU banks stands at -9%, compared to 8% for Nifty Bank and 2.5% for the Nifty during the same period.The biggest loser in the pack has been Punjab & Sind Bank (PSB), which has fallen 40%, followed by Central Bank of India and UCO Bank, which have declined by 32% and 28%, respectively. Next in line are Indian Overseas Bank and Bank of Maharashtra (BoM), whose share prices have eroded by 27% and 4%.Apart from SBI, Indian Bank, Bank of India (BoI), Bank of Baroda (BoB), and Union Bank have delivered positive returns of up to 12%.For the sector to fire, India’s largest lender the State Bank of India (SBI) must take the lead. SBI shares have managed to give sub 1% returns on the year-to-date basis. On Saturday, the state-lender announced a lower than estimated fall in its Q4FY25 net profit though its net interest income (NII) stood broadly in line with Street’s estimates.SBI stock enjoys the highest weight (32%) in the Nifty PSU Bank index followed by BoB (16.85%) and PNB (12.58%). Its movement impacts the overall index performance. Six other PSU banks have declared their earnings while five are yet to announce their results. In terms of YoY Q4 profit growth, PSB tops the chart with 125% surge and a stellar 63% jump in its NII. Indian Bank, IOB, Central Bank and UCO also reported a double-digit PAT growth between 32% and 23%. Meanwhile, NII for IOB, UCO and Bank of Maharashtra remained in double-digits. For Indian Bank it was a 6% uptick and a 4% decline for Central Bank. <iframe title="PSU Banks: Q4 earnings and returns snapshot" aria-label="Table" id="datawrapper-chart-Tz2Uf" src="https://et-infographics.indiatimes.com/graphs/Tz2Uf/1/" scrolling="no" frameborder="0" style="width: 0; min-width: 100% !important; border: none;" height="401" data-external="1"></iframe><script type="text/javascript">!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}))}();</script>Punjab National Bank (PNB), Bank of Baroda (BoB), Union Bank, BoI and Canara Bank are yet to announce their January-December quarter earnings. The lenders have witnessed pressure on their net interest margins (NIMs) with cost of funds rising for the financial year and the rate cuts have had a bearing on the margins.“The stocks are coming out of a long consolidation phase following the Lok Sabha elections. By and large PSU banks have given a good set of numbers and the long term prospects remain bright with NIMs likely to go up. The worst is behind them and they are currently fairly valued and one can add them with a medium to long term view,” Kranthi Bathini, Director-Equity Strategy at WealthMills Securities said.At the index level, the Nifty PSU Bank has appreciated by nearly 5% in the past one month, exhibiting a return of investors' appetite. Individually stocks have risen by 11% with no loser in this period. Bank of Maharashtra, Indian Bank and Canara Bank are top gainers with 7% or higher returns. SBI, Canara Bank, PNB and BoB among large banks are his top picks. Among smaller banks, Bathini prefers Bank of Maharashtra. Notwithstanding the repo rate cut leading the near term pressure on NIMs, the credit growth for the overall banking sector is expected to improve six months down the line because of rate cuts, Sandip Sabharwal said. CA Rudramurthy BV has advised investors to be “very stock specific” when it comes to PSU banks, calling SBI and BoB as top picks.Following SBI’s earnings, brokerages like Motilal Oswal, Yes Securities, Nuvama have come out with their recommendations, maintaining a ‘Buy’ rating on the stock. The targets are Rs 915, Rs 1028 and Rs 950, reflecting a 28% upside. Also Read: SBI shares drop 2% after Q4 profit falls 10% YoY. What should investors do?PSU Banks on chartsThe Nifty PSU Bank index has confirmed a valid inverted head-and-shoulders breakout near the 6,500 level and post the breakout, it rallied, retraced and held firm at the neckline which is a strong sign of support, Axis Securities said in a note.The weekly chart hints at a bullish flag breakout in the making which means that as long as the critical support of at 5,900 (April 7 low) holds, there’s potential for a move toward 7,500 which is a 12% upside from the last close, this brokerage said, adding that a decisive break above 6,840 will be key for the bulls to stay in charge. 120890969(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Categories: Business News

Khelo India Youth Games: मैथिली की तान, पंकज त्रिपाठी का बखान; उद्घाटन समारोह में खिली समृद्ध बिहार की मुस्कान

Dainik Jagran - May 5, 2025 - 11:50am

जागरण संवाददाता, पटना। भव्य, दिव्य और अद्वितीय। पाटलिपुत्र खेल परिसर में खेलो इंडिया यूथ गेम्स 2025 का उद्घाटन समारोह कुछ ऐसा ही था। सतरंगी रोशनी, आतिशबाजी और तालियों की गड़गड़ाहट के बीच इस खेल महाकुंभ की शुरुआत हुई। मंद-मंद चलती हवाओं ने भी बिहार की इस पावन भूमि पर आयोजित बड़े आयोजन का स्वागत किया।

इस दौरान बिहार की समृद्ध विरासत मंच पर साकार होती रही। वर्तमान का विकास भी दिखा। मैथिली ठाकुर की मीठी तान छिड़ी तो पंकज त्रिपाठी की बुलंद आवाज भी गूंजी। हजारों युवाओं, खिलाड़ियों व दर्शकों से खचाखच भरे मैदान में गीत-संगीत और नृत्य का अभूतपूर्व संगम बना। इस दौरान लोगों ने भी कहा, ऐसा आयोजन पहली बार देखा।

पाटलिपुत्र खेल परिसर में खेलो इंडिया यूथ गेम्स के भव्य रंगारंग कार्यक्रम में अभिनेता मैथिली ठाकुर। जागरण

मशाल के साथ सांस्कृतिक कार्यक्रम की शुरुआत

सांस्कृतिक कार्यक्रम की शुरुआत रथ पर सवार निशि कुमारी, माही श्वेता राज एवं आकाश कुमार ने मशाल लेकर की। इसके बाद मशाल प्रज्ज्वलन मुख्यमंत्री नीतीश कुमार ने किया। इसके बाद लाइटिंग और आतिशबाजी ने सबका मन मोह लिया। बिहार की नारी शक्ति स्वरूपा मां गंगा, जानकी, मंगला गौड़ी एवं मां मुंडेश्वरी की आराधना के लिए मंच पर बिहार की बेटी मैथिली ठाकुर पहुंचीं।

इन कलाकारों ने दी प्रस्तुति

उनके साथ देश के ख्याति प्राप्त कलाकार तौफिक कुरैशी, विक्रम घोष, प्रवीण गोखंडी, राजेश वैद्य ने तबला, सितार, बांसुरी आदि के साथ प्रस्तुति दी। मैथिली ने मां मुंडेश्वरी की आराधना में, नमामि माता मुंडेश्वरी, नमामि रक्षमाम, त्राहिमाम की प्रस्तुति देकर माहौल को झंकृत कर दिया।

कार्यक्रम में एआर रहमान कॉलेज के छात्रों के अलावा छह सौ स्कूली बच्चों ने सांस्कृतिक कार्यक्रम में सहभागिता की। कुल 16 सौ कलाकारों ने बार एक्ट, स्पोर्ट्स एक्ट और योजना एक्ट पर प्रस्तुति दी। अब मंच पर थे बिहार के बेटे व प्रसिद्ध अभिनेता पंकज त्रिपाठी।

पंकज त्रिपाठी ने किया बिहार की गाथा का बखान

पारंपरिक धोती कुर्ता पहने पंकज त्रिपाठी ने अपने दमदार आवाज में बिहार की गाथा का बखान शुरू किया। उन्होंने बुद्ध और महावीर से लेकर मगध और मिथिला तक की यात्रा कराई। स्वतंत्रता संग्राम से लेकर दिनकर, जेपी, राजेंद्र प्रसाद और बिस्मिल्ला खां तक की याद दिलाई।

पाटलिपुत्र खेल परिसर में खेलो इंडिया यूथ गेम्स के भव्य रंगारंग कार्यक्रम में अभिनेता पंकज त्रिपाठी। जागरण

झिझिया से लेकर सामा चकेबा और आस्था के महापर्व छठ का दर्शन भी करवाया। शारदा सिन्हा को भी याद किया। पंकज त्रिपाठी ने सुनाया-बिहार में इतिहास लिखा नहीं बल्कि रचा जाता है। यह स्वतंत्रता संग्राम में आजादी का सेनापति बन गया। कलिंग युद्ध के बाद सम्राट अशोक के हृदय में करुणा का संचार हुआ तो उनके अंदर धर्मवीर ने जन्म लिया।

इसी धरती पर बुद्ध को ज्ञान की प्राप्ति हुई तो महावीर ने अहिंसा का संदेश दिया। मां जानकी की इस भूमि पर चाणक्य, आर्यभट्ट, भारती, वात्सायन, गुरु गोविंद सिंह और शारदा सिन्हा जैसी विभूतियों ने जन्म लिया।

वर्तमान में बिहार बेमिसाल बन गया है। पंकज त्रिपाठी के बखान के बीच कलाकारों ने कलिंग युद्ध और सम्राट अशोक का हृदय परिवर्तन वाला दृश्य जीवंत किया। इसके बाद बुद्धं शरणम गच्छामी का संदेश लेकर बौद्ध भिक्षु मंच पर पहुंचे।

झिझिया और सामा चकेबा ने माहौल में घोली उमंग

पंकज त्रिपाठी के बिहार गाथा बखान के दौरान झिझिया, झूमर, सामा चकेबा और छठ महापर्व का दृश्य मंच पर दिखा। इस दौरान कौन भैया जाएत..., धनमा फुलेला वसंत में बउराएल हमरा जियरवा, उड़ि-उड़ि जाए अंचरवा जैसे गीत गूंजते रहे।

सामा चकेबा की प्रस्तुति के दौरान शारदा सिन्हा के गीत सामा खेले चलली की आवाज आई तो तालियां गूंज उठी। माहौल में श्रद्धा का संचार तब हुआ जब मंच पर छठ की संगीतमय प्रस्तुति शुरू हुई। केलवा के पात पर उगेलन सुरुज देव.. गीत के साथ दी गई प्रस्तुति ने महापर्व के प्रति मन में भक्ति की सरिता प्रवाहित कर दी। 

ये भी पढ़ें

Khelo India Youth Games: बेगूसराय में फुटबॉल मुकाबलों की धमाकेदार शुरुआत, महिला वर्ग में हारी बिहार की टीम

पीएम मोदी ने की 'बिहार के बेटे' वैभव सूर्यवंशी की तारीफ, युवा बल्लेबाज के लिए कही यह बड़ी बात

Categories: Bihar News

Ather Energy IPO sees muted grey market buzz ahead of its listing

Business News - May 5, 2025 - 11:36am
Ather Energy will debut on Indian stock exchanges on Tuesday, May 6, with a soft grey market premium hinting at a subdued start for the electric two-wheeler maker’s shares. As of Monday, May 5, the grey market premium stood at Rs 7, implying a marginal 2.18% upside over the IPO’s upper price band of Rs 321. Allotments were finalised on Friday, with shares credited to investor accounts and refunds issued on Monday.The Rs 2,626 crore IPO, which was open from April 28 to April 30, drew a relatively subdued response across categories. Retail investors subscribed 1.78 times their allocated portion, followed by qualified institutional buyers at 1.70 times. Non-institutional investors lagged at 66% subscription, while the employee quota saw robust demand at 5.43 times.The company allocated at least 75% of the offering to QIBs, up to 15% for NIIs, and no more than 10% for retail. A block of 100,000 shares was reserved for employees at a Rs 30 discount per share. The IPO was priced between Rs 304 and Rs 321 per share, with a face value of Re 1.Grey market premium fadesOnce seen trading at a premium of Rs 17, Ather Energy’s unlisted shares have steadily lost steam in the grey market. The GMP fell to Rs 3 last Monday and touched Rs 1 by Tuesday before inching up to Rs 7 on Monday, according to data from investorgain.com. On the final day of bidding last week, the premium was just Rs 1—offering little cushion for listing-day gains.Use of proceedsAther intends to use Rs 927.2 crore from the IPO proceeds to set up a new manufacturing plant in Maharashtra. Additionally, Rs 750 crore is earmarked for R&D, Rs 300 crore for marketing, and Rs 40 crore for debt repayment, spread over FY26 to FY28.The offering included a fresh issue and an offer-for-sale of 1.1 crore shares by promoters and early backers such as National Investment and Infrastructure Fund II, Internet Fund III Pte. Ltd., and IIT Madras-linked entities. Founders Tarun Sanjay Mehta and Swapnil Babanlal Jain also offloaded shares.Analyst views mixedAnalysts expressed differing views on valuation. Geojit Investments cited a steep EV/Sales ratio of 7.1x (FY24) and recommended subscribing only for high-risk, long-term investors. Arihant Capital, valuing the issue at 8x based on 9MFY25 sales, issued a 'Subscribe for listing gain' call.Known for its premium electric two-wheelers and in-house R&D, Ather recently launched its family scooter model, the Ather Rizta. Early institutional backer IIT Madras, which holds 15.58 lakh shares, is expected to net around Rs 50 crore from the IPO.Also read | Oyo shelves IPO attempt for third time over SoftBank concerns: Report(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Categories: Business News

Global economy is feeling drag from Trump

Business News - May 5, 2025 - 11:34am
U.S. President Donald Trump's tariffs are increasingly clogging up the wheels of a world economy which for decades were greased by predictable and relatively free trade. Big-name multinationals right down to niche e-commerce players last week cut sales targets, warned of job cuts and reviewed their business plans, while major economies revised down growth prospects amid bleak data read-outs. While financial markets are betting the U.S. and China will pull back from an all-out trade war and that Trump will cut deals to avert higher tariffs on others, the sheer uncertainty of where this ends has become a major drag factor in itself. "U.S. tariff policy is a serious negative shock for the world in the near term," said Isabelle Mateos y Lago, group chief economist at French bank BNP Paribas. "The US tariffs end-game may be further away and at a higher level than previously thought," she said of blanket US tariffs currently set at a baseline of 10% alongside higher, sector-specific charges on products such as steel, aluminium and autos. Beijing said on Friday it was evaluating an offer from Washington to hold talks over 145% U.S. tariffs, to which it has responded with 125% levies. Trump's administration has also suggested it is close to deals with countries including India, South Korea and Japan to avert more tariffs in weeks to come. In the meantime companies such as Swedish appliances maker Electrolux slashed its outlook while Volvo Cars , computer gadget maker Logitech and drinks giant Diageo abandoned their targets on the uncertainty. Last week's removal of the "de minimis" duty-free treatment of e-commerce packages worth less than $800 for products from China is a hammer-blow for many smaller players. "We're going from zero to 145%, which is really untenable for companies and untenable for customers," said Cindy Allen, CEO of Trade Force Multiplier, a global trade consultancy. "I've seen a lot of small to medium-sized businesses just choose to exit the market altogether." SILVER LININGThe tariff outlook prompted the Bank of Japan to cut its growth forecasts last week, while trade tensions were cited by forecasters in growth outlook downgrades for the Netherlands and the Middle East and North Africa (MENA) region. While the official measures of activity in top economies are still catching up with the downbeat mood, it is surfacing in the closely-watched surveys of purchasing managers at factories around the world. China's factory activity contracted at the fastest pace in 16 months in April, one such survey showed last week, while a similar UK readout showed British factory exports last month shrinking at their sharpest pace in almost five years. Economists were quick to caution that a stronger-looking read-out from export-focused Germany might largely be due to factories front-loading business to get it out of the door before the tariffs took effect. "(This) means that there might be a backlash in the coming months," warned Cyrus de la Rubia, chief economist at Hamburg Commercial Bank AG. However, while front-loading may also have helped India to a 10-month high in manufacturing growth in April, analysts noted the country - which faces lower tariffs than China and towards which Apple has shifted some output - could end up a genuine winner. "India is well positioned to be an alternative to China as a supplier of goods to the US in the immediate term," emerging markets economist Shilan Shah at Capital Economics said, predicting punitive tariffs on China were "here to stay". For now, most economists are calling the Trump tariff gambit a "demand shock" to the world economy which, by making imports more expensive for American businesses and consumers, will sap activity elsewhere. The silver lining could be that this reduces inflationary pressures and so will give central banks elsewhere greater scope to boost the economy with interest rate cuts - something the Bank of England is seen taking advantage of this week. But what is yet to play out is whether Trump's bid to re-balance the trading system in America's favour finally prompts others to revamp their own economies: for example if China moves to raise stimulus for its domestic economy, or euro zone countries remove the barriers that still hold back their single market.
Categories: Business News

Pages

Subscribe to Bihar Chamber of Commerce & Industries aggregator

  Udhyog Mitra, Bihar   Trade Mark Registration   Bihar : Facts & Views   Trade Fair  


  Invest Bihar