Piyush Parwal

1) SBI Cards reported impressive Q1 results despite a lockdown period. Company reported Q1 Net revenue for the first quarter of Rs1137cr (up 52% YoY), Net profit Rs393cr (up 14% YoY), SBI Card approved Rising Rs1500cr via NCD over a year, SBI Card Moratorium accounts 1.5lakh in June vs 12.5 lakh in May, GNPA 1.35% vs 2.68% (YoY), operating profit Rs528cr (down 1% YoY) and provision coverage 68% vs 72% (YoY). 2) India is looking to privatise more than half of its state-owned banks to reduce the number of government-owned lenders to just five as part of an overhaul of the banking industry. The first part of the plan would be to sell majority stakes in Bank of India, Central Bank of India, Indian Overseas Bank, UCO Bank, Bank of Maharashtra and Punjab & Sind Bank, leading to an effective privatisation of these state-owned lenders, a government official said. #MOMarketUpdates #Governmentbank #SBIcards #BankofIndia #Privatisation

Three major private banks -Axis, ICICI and HDFC Bank, witnessed smart rally today on the possibility of a fundraising plan for adequate liquidity in the system.The three private banking giants hold a market share of over 80% in the private banking space. A snapshot of their returns in the last 5 years. #MOMarketUpdates #privatebank #hdfcbank #icicibank #axisbank #stockmarket #stocknews #marketnews #marketupdates #bankstocks #NSE #sharemarket

- 5 Financial Hurdles of Youngsters and Ways to Overcome Them. Click on the bio link to read more. ...

Glenmark Pharmaceuticals shares surged 27% in today’s trade. The company has launched antiviral drug Favipiravir, under the brand name FabiFlu, for the treatment of patients with mild to moderate Covid-19 infection at a price of about Rs 103 per tablet....

Investing gives you the best return in the long run. No opportunity is missed as long as you stay invested in quality stocks. Reliance Industries becomes the first listed company to cross 11 lakh crore in market capitalisation. The stock prices have doubled from March 23rd as the company becomes a net debt-free.

These eight things are important to read in quarterly results which can help you to select the right stock to invest. Click on the bio link to read the article. ...

HDFC is looking to collect around Rs 12,000 crore. The QIP component is to be around Rs 7,000 crore and the convertible component around Rs 5,000 crore. This exercise will help to strengthen its balance sheet and boost capital. .......

Industrial metals climbed after the Federal Reserve’s plan to purchase corporate bonds boosted investor sentiment and as the Trump administration prepares a nearly $1trillion infrastructure proposal to spur growth. ........

A snapshot of major events of market in this week....