Some public sector banks are taking the details of COVID cases among employees to their grave, so to speak. The MD and CEO of a south-based public sector bank was recently tested COVID positive. The bank hurriedly made arrangements to treat the CEO at home to make sure the news is suppressed. Doctors from a well-known hospital in the state capital were requested to visit the CEO’s official residence regularly for treatment. The CEO was apparently infected from a general manager at a management meeting. The GM passed away a few days later. Another south-based PSB has over 500 COVID-19 positive cases. Bankers say most PSBs are insisting that their workers continue working from office to avoid business losses even if they exhibit symptoms of the virus, thereby increasing the chances of spreading the infection. … [Read more...] about MC Insider: String of exits at private lender, hurting Chinese ownership, deadly COVID secrets in banking and more
A) We are happy to see Indian retail investors participating in the market when it was at an attractive valuation. However, given the lack of research at retail investors' end, we will advise them to use a mutual fund route rather than investing directly in securities. Investing directly in securities needs a lot of in-depth research over the period. … [Read more...] about DAILY VOICE: Four reasons why IT stocks are hitting 52-week highs
“It was a good effort policy by RBI through an extension of moratorium is a short term measure and not really long term. Rate cuts and reverse repo rate cut are moves in the right direction but risk aversion by banks is still high,” Virendra Somwanshi, MD & CEO, Motilal Oswal Private Wealth Management told Moneycontrol. … [Read more...] about 5 reasons why market may not have liked RBI’s announcements: Experts
Financial services, infra and auto stocks have witnessed an addition in open interest with strong rollovers. Considering the factors like significant Open Interest (OI) addition in most sectors, FII segment turning positive and market rollovers, Nifty is expected to remain positive for the next month as these indicate bullish sentiment. … [Read more...] about Sustainable rally in banking looks tough, but revival can be expected in near term: Gaurav Garg
“Several companies are expected to take big hit earning following a lockdown in the last month thereby affecting their earnings. We believe in a very dynamic world with a lot of uncertainty in the next few months,” Rahul Sharma, Head of Research, Equity99 Advisors told Moneycontrol. … [Read more...] about These lucky 7 midcaps turned largecaps in the last one year; time to buy?