New Delhi: Indian equity benchmarks fell sharply on Thursday due to a fall in global markets. Shares fell to their lowest level in more than 14 months, short-term US yields hit a 23-month high and the dollar strengthened after the Federal Reserve chairman signaled plans to gradually tighten policy . At the same time, investors became safe on rising concerns over political tensions between Russia and Ukraine. Major financial stocks saw overall buying with stocks like Axis Bank and SBI. These stocks can remain in trend on Friday.
Centrum CapitalThe Finance Ministry issued a notification on January 25, 2022 that it has approved the scheme of amalgamation of Punjab and Maharashtra Co-operative Bank Limited (PMC Bank) with Unity Small Finance Bank Limited (Unity Bank). By doing so, the ministry has saved PMC Bank from getting liquidated and has brought relief to all stakeholders. About 110 branches of PMC Bank and over 1,100 employees will work as Unity Bank, providing uninterrupted service to the customers as well as providing security and stability in their employment. In line with the scheme of amalgamation, Unity Bank will pay the full amount of the principal amount due to all the depositors. 96% of the depositors having deposits up to Rs.5 lakh will be paid in advance (subject to meeting the requirements as per DICGC rules). These depositors can choose to withdraw or retain this amount from Unity Bank; Or make an additional deposit and avail attractive interest rates of up to 7% on savings accounts.
Bharti Airtel India’s leading communication solutions provider, Bharti Airtel (Airtel) today said that its subsidiary Airtel Africa has been made part of the popular FTSE 100 Index with effect from Monday, January 31, 2022. The company had a market capitalization of over US$7.5 billion (as of closing price on 26.01.2022) and an enterprise value of US$10.7 billion.
Today’s High Stocks – On the Nifty 50 index, the stocks of Axis Bank, State Bank of India, Cipla, Maruti and Kotak Bank rose over 2% in today’s trading session. Hindustan Oil Exploration Company, Gujarat Ambuja Exports, La Opala RG, Gujarat Mineral Development Corporation, Triveni Engineering and Industries rose over 9% on the BSE Sensex index.
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