|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||331.65 - 336.65|
|52 Week Range||241.10 - 351.30|
|PE Ratio (TTM)||119.03|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
MUMBAI/BENGALURU, Nov 17 (Reuters) - Moody's Investors Service upgraded India's sovereign credit rating for the first time in nearly 14 years on Friday, saying continued progress on economic and institutional reforms would boost the country's growth potential. The agency said it was lifting India's rating to Baa2 from Baa3 and changed its rating outlook to stable from positive as risks to India's credit profile were broadly balanced. The upgrade, Moody's first of India since January 2004, moves the rating to the second-lowest investment grade, one notch higher than Standard & Poor's and Fitch, which have kept India just above "junk" status for a decade and more.
State Bank of India (SBI) posted quarterly results that indicated the nation's lenders may see a slower build-up of bad loans, but questions remain on how quickly and smoothly they can get rid of $146 billion of such debt that has already piled up. SBI, the nation's top lender with a share of more than fifth of the banking assets, reported on Friday a lower-than-expected profit, but its bad loan additions during the three months to end-September slowed sharply and pushed the overall bad-loan ratio down. Newly appointed SBI Chairman Rajnish Kumar, who took over last month, said they used the cushion from the insurance stake sale to bolster provisions and improve the coverage ratio by 431 basis points in a quarter to 65.1 percent.
State Bank of India (SBI) will open more branches in Nepal and consider options to re-enter Vietnam under a three-year goal to grow its international operations to as much as 15 percent of total business, a senior executive said. India's top lender, with assets of more than $500 billion, was catapulted into the league of the top 50 global banks this year after it merged five subsidiary banks with itself. SBI, which is present in 35 countries but has more than half of its 206 offices in Asia, aims to increase the number of offices in neighbouring Nepal to 100 in the next one year from 88 currently to better tap a market it considers "under-penetrated" for banking, said Siddhartha Sengupta, a deputy managing director who leads the bank's international business.
India's cabinet approved a $32.43 billion plan on Tuesday to recapitalise its state banks over the next two years, in a bid by Prime Minister Narendra Modi to tackle a major drag on the economy that has frustrated his attempts to boost growth. Once the world's fastest-growing major economy, India has seen its growth rate plummet to the lowest in three years, far below levels needed to create enough jobs to absorb the million Indians joining the work force every month.
Prime Minister Narendra Modi’s government tapped Rajnish Kumar to helm State Bank of India, handing him the task of curtailing a surge in bad debts at the nation’s biggest lender.
Reliance Communications is reassessing debt repayment options after a deal to merge its wireless arm with smaller rival Aircel was scrapped, dealing a fresh blow to the embattled Indian telecoms company. Widely known as RCom and controlled by wealthy businessman Anil Ambani, the company is saddled with net debt of about $6.8 billion.
* RCom agrees with Aircel to drop merger * Cites regulatory delays and legal uncertainties for move * RCom had net debt of $6.8 bln at end of March * Bonds slip only marginally as subordination risk diminishes ...
India’s stocks benchmark rose as the country’s largest lender by assets, State Bank of India, advanced for a second day on optimism the bad-loan problem for state-run lenders has peaked.
Bloomberg Intelligence's Diksha Gera reports on the performance of the State Bank of India. She speaks on "Bloomberg Daybreak: Asia." (Source: Bloomberg)
State Bank of India Chair Arundhati Bhattacharya discusses the rise of bad loans in India. She speaks on "Bloomberg Daybreak: Asia." (Source: Bloomberg)
India's top lender State Bank of India said on Wednesday it is examining all currency notes at automated teller machines after media reports cited fake 2,000 rupee notes being dispensed by one of its ATMs ...
India's finance minister is likely to borrow more than originally planned when he presents the budget on Feb. 1, senior aides and officials said, despite counting on revenues from a national sales tax whose launch date is still unknown. Arun Jaitley is looking at how to fund giveaways to taxpayers and higher public investment to help nurse Asia's third-largest economy back to health after the government's shock decision in November to abolish high-value banknotes.
State Bank of India Chair Arundhati Bhattacharya discusses how India's cash ban has impacted the economy. She speaks with Bloomberg's Erik Schatzker at the World Economic Forum in Davos, Switzerland. (Source: ...
The cost of insuring the bonds of State Bank of India dropped to the lowest in almost six years as deposits at the country’s largest lender surged after Prime Minister Narendra Modi forced residents to ...
MUMBAI/NEW DELHI, Jan 12 (Reuters) - Bharti Airtel Ltd , India's top wireless carrier, on Thursday unveiled a so-called payments bank, committing an initial investment of 30 billion rupees ($441 million) to build a nationwide network. Airtel Payments Bank is the first among several such niche banks to start operations, after the central bank handed over new permits to bring financial services within the reach of millions who still lack access to formal banking. Several of Bharti's competitors have also received payments bank licenses, including Reliance Industries, which has entered the country's telecoms sector through unit Jio, as well as Vodafone Group Plc and Idea Cellular.