Reserve Bank of India has extended Prashant Kumar's tenure as Yes Bank CEO. He will continue until a successor is found. The extension is effective from October 6, 2025. Kumar's leadership began in March 2020. During his term, Yes Bank's deposits and retail advances grew significantly. The bank also improved its asset quality under his guidance.
Escalating Israel-Iran tensions sent Indian markets reeling, with the Sensex and Nifty 50 plummeting. Bucking the trend, shipping stocks soared on rising crude prices and container rate expectations. Jubilant Ingrevia rallied after a significant block deal, while defense stocks gained amid conflict concerns. Realty shares and Jubilant Foodworks also saw increases due to sector activity and stake offloading, respectively.
Vikas Khemani from Carnelian Asset Management suggests a portfolio focused on India's long-term potential. Banking, financial services, and manufacturing are key sectors. Consumption, both discretionary and non-discretionary, offers opportunities. Crude price fluctuations can create buying chances in related sectors. Auto ancillary companies with diversified exposure are attractive. Individual company analysis is crucial for informed investment decisions.
Indian shipping stocks, including GE Shipping and SCI, surged following escalating tensions between Israel and Iran. The geopolitical unrest drove crude oil prices higher and fueled speculation about rising container shipping rates.
Bajaj Finance shares will trade ex-split from June 16, 2025, with June 13 being the last day to buy shares for eligibility. The company announced a 1:2 stock split and a 4:1 bonus issue. While the number of shares increases, the overall investment value remains the same, with the share price adjusting accordingly.
Share prices of Indian aviation companies plummeted following a tragic Air India crash and a surge in global crude oil prices. The Air India Dreamliner crashed shortly after takeoff, killing all 241 onboard, triggering caution among investors. Simultaneously, escalating Middle East tensions, highlighted by Israeli strikes on Iran, caused oil prices to soar, further pressuring airline profitability due to increased fuel costs.
Oswal Pumps IPO: As of 10:24 AM, Oswal Pumps' IPO had received bids for 9,14,976 shares against the 1,62,12,980 shares on offer. The highest demand so far has come from non-institutional investors (NIIs), who subscribed to 9% of their allotted portion. Retail investors subscribed 7%, while qualified institutional buyers (QIBs) had not yet placed any bids.
Fidelity has increased Lenskart's valuation to $6.1 billion, a 21% rise from its previous $5 billion valuation. The omnichannel eyewear retailer is preparing for a potential $1 billion IPO at a $10 billion valuation. Lenskart's FY24 net loss decreased significantly, while operating revenue and EBITDA saw substantial growth, highlighting its strong financial performance.
