ICICI Bank will raise Rs 15K cr.
ICICI Bank will raise Rs 15K cr. By selling shares. This can increase the bank's main share capital by 2 per cent. ICICI Bank is a private bank. It is one of the largest banks in the country.
Many big banks have announced to raise capital. These include HDFC Bank and Axis Bank. Kotak Mahindra Bank has raised capital. ICICI Bank has informed the stock exchanges about the plan to raise capital.
The first reason for this is that they are afraid of increasing bad loans. Second, they will have to do more provisioning when the moratorium period ends in August. Moratorium can affect the repayment of loan. Rating agency Crisil has said that by the end of this financial year, the bad loans of banks can reach 11.5 per cent of their total loans. At the end of the last financial year, gross bad loans were less than 9 percent.
The stock market returned, the Sensex gained 409 points
The domestic stock markets closed sharply. The next day of Wednesday's fall, the bulls increased their hold on the market. There was good buying in metal, financial and banking stocks. The process of results for the quarter will start from today. TCS results will come this evening
On Thursday, only the Nifty FMCG index closed in the red mark. The metal index gained two per cent, while the financial services index strengthened by one and a half per cent. Private bank and government bank index also showed an increase of one to one and a quarter to one percent.
Only three stocks saw weakness on the metal index. Shares of Indian Bank fell by one-fifth percent on the Government Bank Index. There was a spurt in all the stocks on the private bank index. Shriram Transport Finance shares fell the most on the Finance Services Index.
Shares of 41 companies achieved their 52-week high during Thursday's trading session. In contrast, shares of just three companies - BC Power, Mittal Lifestyle and Omaxe - slipped to a 52-week low.
Many big banks have announced to raise capital. These include HDFC Bank and Axis Bank. Kotak Mahindra Bank has raised capital. ICICI Bank has informed the stock exchanges about the plan to raise capital.
The first reason for this is that they are afraid of increasing bad loans. Second, they will have to do more provisioning when the moratorium period ends in August. Moratorium can affect the repayment of loan. Rating agency Crisil has said that by the end of this financial year, the bad loans of banks can reach 11.5 per cent of their total loans. At the end of the last financial year, gross bad loans were less than 9 percent.
The stock market returned, the Sensex gained 409 points
The domestic stock markets closed sharply. The next day of Wednesday's fall, the bulls increased their hold on the market. There was good buying in metal, financial and banking stocks. The process of results for the quarter will start from today. TCS results will come this evening
The BSE Sensex closed at 36,738, up 409 points or 1.12 per cent. At the same time, the Nifty 50 index ended the business at 10,813, registering a jump of 108 points or 1.01 percent. The BSE Midcap index and the Smallcap index also closed in the green mark.
On Thursday, only the Nifty FMCG index closed in the red mark. The metal index gained two per cent, while the financial services index strengthened by one and a half per cent. Private bank and government bank index also showed an increase of one to one and a quarter to one percent.
Only three stocks saw weakness on the metal index. Shares of Indian Bank fell by one-fifth percent on the Government Bank Index. There was a spurt in all the stocks on the private bank index. Shriram Transport Finance shares fell the most on the Finance Services Index.
Shares of 41 companies achieved their 52-week high during Thursday's trading session. In contrast, shares of just three companies - BC Power, Mittal Lifestyle and Omaxe - slipped to a 52-week low.
