aniruddha_bahal

Witnessing a sharp value erosion in their scrips during the last quarter of the current fiscal, about 50 listed banks and non-banking financial corporations (NBFCs) of the country have lost nearly Rs 1.43 lakh crore in their market capitalisation in this period.

The estimated 14 per cent percentage loss in the market value of banking and non-banking financial companies (NBFCs) is much higher than the overall plunge of less than 8 per cent across the stock market between January and March 2013. While two days are still left in the current fiscal, the stock markets would now resume trading in the next financial year on April 1, as the next two days are trading holdings.

An analysis of stock movements of about 50 listed banks and NBFCs during the current quarter shows that their cumulative market cap has plunged by Rs 1,43,682 crore since January 1, 2013 to end the fiscal at Rs 10,44,400 crore.

 The biggest loser among these has been State Bank of India with a loss of over Rs 23,000 crore in the current quarter, followed by private lenders HDFC Bank and ICICI Bank with losses of over Rs 13,000 crore and Rs 12,000 crore, respectively.
March 30, 2013

Banks, NBFCs lose R1.43 lakh cr M-cap

Witnessing a sharp value erosion in their scrips during the last quarter of the current fiscal, about 50 listed banks and non-banking financial corporations (NBFCs) of […]
March 23, 2013

RBI probing charges of money laundering, ICICI, HDFC & Axis Bank under lens

MUMBAI: The Reserve Bank of India has begun a probe into allegations that staff at Axis Bank, HDFC Bank and ICICI Bank encourages customers to evade […]
March 23, 2013

Need for corrective action: Subba

BANGALORE: Reserve Bank governor D Subbarao on Friday said he couldn’t make a sweeping statement that there weren’t any illegal transactions happening in the banking system, but assured […]
March 22, 2013

‘No money laundering’: RBI gives clean chit to ICICI, Axis, HDFC

RBI on Thursday pooh-poohed money-laundering allegations against three private sector banks — ICICI Bank, HDFC Bank and Axis Bank — saying that a recent sting by Cobrapost involved no real violation of law. HT reports.