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In all likelihood, the month of May too would show a similar drop in retail loans. (Photo: iStock) (Photo: iStock)
In all likelihood, the month of May too would show a similar drop in retail loans. (Photo: iStock) (Photo: iStock)

Covid-19 ends retail loan boom for India’s banks

  • Banks will face their toughest year in terms of loan growth as retail loans go for a toss
  • A swift increase in retail loan growth would be hard to come by, at least in FY21

Gold rate today: Prices on MCX hovered around  ₹47,000 per 10 gram
Photo: Ramesh Pathania/Mint
Photo: Ramesh Pathania/Mint
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Market LIVE: Sensex up 800 points, Nifty tops 9,800; Banks, Metal stocks rally

  • Indian stocks saw a firm opening on Monday as the government unveiled 'Unlock 1.0' phase with a focus to revive the economy
  • HDFC Bank, surging 4-5% were top gainers on the 30-share barometer while Sun Pharma was the only laggard

Photo: Aniruddha Chowdhury/Mint
Photo: Reuters
As trading terminals have moved from dealing rooms to homes, brokers are completing transactions from their homes for the first time in over a century.
Growth in gross domestic product (GDP) in the March quarter, which saw just one week of lockdown, has plummeted to its lowest in 11 years
Growth in gross domestic product (GDP) in the March quarter, which saw just one week of lockdown, has plummeted to its lowest in 11 years

GDP data indicates India came wounded to coronavirus battle

  • The economy needs direct fiscal stimulus rather than a roundabout way to giving relief as seen so far
  • The full effect of the nationwide lockdown will manifest in the first quarter of FY21

In dollar terms, India's benchmark index Sensex was one of the weakest among emerging markets in May
Total FII outflow from Indian markets so far in 2020 is estimated at $19 billion, highest in many years.
Gold rates on MCX rose 0.27% to  ₹46,530 per 10 gram (AFP)
The Bombay Stock Exchange (BSE) building is seen in Mumbai. (REUTERS)
Photo: Aniruddha Chowdhury/Mint
The special platform, a first, gave shareholders a chance to freely trade their RE on a stock exchange (Photo: Reuters)
The special platform, a first, gave shareholders a chance to freely trade their RE on a stock exchange (Photo: Reuters)

RIL rights entitlement  ends 46.7% up in seven sessions

  • RIL RE ended trading at 221.75 on BSE on Friday, down 2.29% from its earlier close
  • This was the first time that shareholders could freely trade their rights entitlement on a stock exchange platform, since Sebi allowed the same earlier this year

At Friday’s closing price of  ₹36.40, the delisting proposal would amount to about  ₹3513 crore. (Bloomberg )
At Friday’s closing price of 36.40, the delisting proposal would amount to about 3513 crore. (Bloomberg )

After Vedanta, Adani Power to now consider delisting

  • The power generation firm’s board is set to meet on 3 June to consider the delisting proposal
  • Adani Power’s share price has halved from a high of 73.75 to the current level of 36.40

Shares of SUN Pharmaceutical Industries were up +3.53% at closing today on BSE, outperforming the broader Mumbai market
The rupee today settled at 75.62 to the US dollar
Excluding the benefit of acquisitions, company's revenue grew 27%, which is up 2% sequentially
Sensex fell over 500 points today (Reuters)
TVS Motor sold 32.63 lakh units in fiscal 2019-20, down from 39.14 lakh units in 2018-19. (Photo: Bloomberg)
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