Late on Friday, Moody's downgraded First Republic Bank's debt ratings to reflect its "significant challenges".

The beleaguered lender was in talks to raise money from other banks or private equity firms by selling new shares, the New York Times reported on Friday afternoon, citing three people with knowledge of the process. The bank could also negotiate to be sold, the report said. First Republic declined to comment.

The proposal to restrict Berkshire's speech came from the American Conservative Values ETF, which said Berkshire and its dozens of operating units should "avoid supporting or taking a public position" on controversial social and political issues unless their businesses required it.

Moody's said it believes the bank's high cost of borrowings, along with the "high proportion of fixed rate assets at the bank, is likely to have a large negative impact on First Republic's core profitability in coming quarters."

On Friday, the bank's parent, SVB Financial Group, said it had filed for reorganization under Chapter 11 bankruptcy protection.

SVB Financial Group announced it would seek Chapter 11 bankruptcy protection, the latest development in an ongoing drama that began last week with the collapse of Silicon Valley Bank and Signature Bank, which sparked fears of contagion throughout the global banking system.

Credit Suisse shares jumped 9% in after-market trading following the FT report. Credit Suisse and UBS declined to comment on the report. Credit Suisse, a 167-year-old bank, is the biggest name ensnared by market turmoil unleashed by the collapse of U.S. lenders Silicon Valley Bank and Signature Bank over the past week, forcing it to tap $54 billion in central bank funding.

Rajesh Gopinathan, the outgoing CEO of TCS, said he would “continue to have a great relationship” with Tata Sons Chairman N Chandrasekaran, irrespective of whether “I am with the group or outside of it”, in an emphatic dismissal of all speculation surrounding his unexpected resignation on Thursday.

Rajesh Gopinathan’s resignation came as a surprise, given that he was just over a year into his second five-year term as MD and CEO.

HCL Tech led the Sensex gainers' chart, spurting 3.58%, followed by UltraTech Cement, Nestle India, Tata Steel, Kotak Bank, ICICI Bank, Bharti Airtel and HDFC twins.

Earlier this month, the regulator in two separate orders barred 55 entities including actor Arshad Warsi and his wife Maria Goretti from the securities market for alleged price manipulation and offloading of shares by certain entities of Sadhna Broadcast and Sharpline Broadcast.

Kotak Mahindra Bank was the biggest beneficiary of the index rebalancing with an inflow of $77 million, followed by APL Apollo Tubes and Supreme Industries with $53.50 million and $47.70 million inflows, respectively. Shares of Kotak Bank gained 1.63% to close at Rs 1,691.20, while Supreme Industries rose 2.57% to Rs 2,571.35 on Friday.

More than $500 billion in market value has been added to the four biggest US tech companies this week. Microsoft advanced 12% and is flirting with its best week in nearly eight years, while Alphabet is headed for its best weekly gain since 2021. Amazon.com, meanwhile, has jumped about 9% and Apple is up almost 5%.

​​But, they expect the change to weigh on the stock in the near term. The TCS stock closed at `3,175 on Friday. The Nifty gained 0.7% to close at 17,100. ET looks at what top brokerages are saying about the change of guard at India’s second-most valuable listed company.

RBI's supervisory system has been overhauled in recent years through a unified and harmonised approach for commercial banks, non-banking finance companies, and urban cooperative banks. "The focus is now more on identifying the root cause of vulnerabilities, rather than dealing with the symptoms alone," Das said.

Ray Wang, founder of IT research firm Constellation Research, said Krithivasan has had “a lot of success with large deals, productisation and delighting customers”.

The CEO designate, K Krithivasan will have to navigate macroeconomic challenges and demonstrate significant value addition at a time when digital and offshoring models introduced by his predecessors have reached maturity and customers are questioning their tech spends

All month, the nation's banking giants have been raking in deposits from nervous customers at smaller firms and now those behemoths would be taking some of their own money and handing it to a San Francisco bank in distress, trying to stanch a widening crisis.

The San Francisco-based company will still need to move quickly to find a way to remain independent, or strike a deal for a takeover. The deal with the 11 lenders including Bank of America, JPMorgan Chase. Citigroup and Wells Fargo includes deposits with an initial term of 120 days.

At 11:49 am ET, the Dow Jones Industrial Average was down 1.42%, the S&P 500 slipped 1.31%. On a positive note, shares of FedEx Corp rose 7.7% after the delivery giant raised its full-year profit forecast.

According to the shareholding pattern as of December quarter, Equitas Small Finance Bank is completely owned by public shareholders. Mutual funds own about 38.11% stake in the company, while foreign investors have 18.66%. Ace investor Ashish Dhawan holds 3.64% in the company.

Meanwhile, shares of seven Adani Group companies out of the ten listed entities settled higher on Friday, with Adani Enterprises jumping 2 per cent amid a positive momentum in equity markets.

Delhivery is among the largest logistics players in India with full-stack solutions across the value chain. It is fully owned by public shareholders, wherein top mutual funds own 11.12% and the stake held under foreign direct investment is about 59.93%.

In an interview with PTI on Thursday, Ramdev assured his investors and public shareholders that there would be no impact on Patanjali Foods operation and financial performance and its growth trajectory will remain intact.

On Friday, Sensex climbed by around 355 points, reaching 57,989, while 7 stocks from the BSE smallcap index hit new 52-week highs. The 52-week high is an essential technical indicator for traders and investors, representing the highest price at which a stock has been traded over the last year. It serves as a critical factor in analyzing a stock's present worth and forecasting its future price trends.

"The security holder(s) whose folio(s) have been frozen shall be eligible for any payment, including dividend, interest or redemption payment in respect of such frozen folios, only through electronic mode with effect from April 1, 2024. An intimation shall be sent by the listed company to the security holder that such payment is due and shall be made electronically only upon complying with the requirements," Sebi said.

The S&P 500 was 1.1% lower in morning trading. The Dow Jones Industrial Average was down 429 points, or 1.3%, at 31,817, as of 10:35 a.m. Eastern time, while the Nasdaq composite was 0.8% lower.

The borrowings speak to the "funding and liquidity strains on banks, driven by weakening depositor confidence," Moody's said. The ratings agency had downgraded its outlook on the U.S. banking system to negative earlier this week.

Euro zone banks are still sitting on some 4 trillion euros ($4.25 trillion) worth of excess liquidity, which they are even keen to hand back to the ECB now that borrowing from it has become more expensive, central bank data showed.

Credit Suisse's chief executive said on Friday the bank was working hard to stem customers outflows, although this could take time. Credit Suisse shares resumed their decline.

Most of the 11 major S&P 500 sectors were lower. The KBW regional banking index and the S&P 500 banks index fell over 2% each.

The National Company Law Tribunal (NCLT) on Friday gave its approval to the HDFC-HDFC Bank merger. Termed as the biggest transaction in India's corporate history, HDFC Bank on April 4 agreed to take over the biggest domestic mortgage lender in a deal valued at about USD 40 billion, creating a financial services titan.

The turmoil has highlighted the criticality of banking sector regulations, Das said, adding the RBI's off-site supervision of Indian banks has become more frequent and stringent over the past few years.

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the Nasdaq Composite dropped 20.93 points, or 0.18%, to 11,696.35 at the start

The video series featuring influencer Shraddha started with a short take on how taking advice from random people can hurt investors

The plan to seek bankruptcy protection comes after the tech lender said on March 13 it was planning to explore strategic alternatives for its businesses, including the holding company, SVB Capital and SVB Securities.

Rising interest rates put pressure on equity markets throughout 2023 as foreign investors have been on a selling spree since the start of the year

Credit Suisse, a 167-year-old name in the banking sector, is dealing with a significant financial crisis. But how did the second-largest global investment bank end up in this mess? In this video, Neha Vashishth from ET Markets takes a deep dive to explain what this crisis is all about and how it may impact India.

Option data suggests a broader trading range between 16,600 and 17,500 zones. Chart readers said the formation of two back-to-back Doji patterns in the last two sessions indicate that the market is in the process of a near-term bottom formation.

Credit Suisse fell by as much as 10% following two days of sharp swings, which saw its shares jump 20% on Thursday after a 24% drop on Wednesday when its largest investor said it would not be able to increase its stake. Volatility remained high.

"The company has not entered into any definitive agreement or binding commitment on this matter," Tata Consumer, which sells the popular Tata Salt and Himalayan-branded mineral water, said in a stock exchange filing after market closed.

Closing Bell: Sensex rises for 2nd straight day, ends 355 pts higher; Nifty at 17,100; RInfra rallies 6%, HCL Tech 4%

D-Street investors get richer by Rs 1.53 lakh crore as market capitalisation of all listed cos on BSE surges to Rs 257.58 lakh crore

The markets are likely to remain volatile in the coming months as they will assess the US Federal Reserve and the Reserve Bank of India's (RBI) actions and try to forecast the future policy path, Alekh Yadav, Head of Investment Products at Sanctum Wealth said.

Goldman Sachs expects the European Central Bank to deliver a smaller quarter-point hike in May as it grapples with stress in the banking sector and high core inflation. The ECB's decision to press ahead with a 50 bps hike has caused Goldman Sachs to revise its terminal rate forecast downward to 3.5%. Meanwhile, J.P.Morgan, Deutsche Bank and Swedish Bank SEB expect the ECB to deliver a 50 bps hike in May but warned of downside risks to their forecasts given current

As per current regulations, "a director who either himself, through his relative or any corporate body, directly or indirectly, holds more than 10% of the outstanding equity shares of the company" is not eligible to receive stock options.

The buyback offer size represents 24.76% and 24.69% of the aggregate of the company’s fully paid-up equity capital and free reserves as per the latest audited financial statements of the company for the year ended March 2022, which is not exceeding 25% of the aggregate of the total paid-up capital and free reserves of the company.

The company had earlier said it is planning to get in touch with the mines ministry to resolve the differences. Valuation of the assets is among several concerns flagged by the government.

The Japanese stock market ended higher on Friday, with banking and electronics stocks leading the way. The Nikkei index ended the day 1.2% higher at 27,333.79, while the broader Topix ended up 1.15% at 1,959.42. The Nikkei ended the week lower, amid a brewing banking crisis that sent bond yields plunging, while market participants sharply lowered expectations of future interest rate hikes in Western economies.