PNB Housing Finance has received Sebi's go ahead to raise up to Rs 2,500 crore through a rights issue of shares. The housing finance firm plans to utilise the net proceeds from the issue towards augmenting its capital base. After the rights issue, PNB Housing's shareholding would come down from the current level of 32.53 per cent to below 30 per cent but it would be higher than 26 per cent so that the bank retains promoter status.

PNC Financial Services Group Inc, Apollo Management and Morgan Stanley are also in talks with the defunct lender, Axios reported, adding Apollo was interested in financing a deal or acquiring some of the business.

The startup-focused bank, SVB, became the largest bank to fail since the 2008 financial crisis last week, sending shockwaves across global markets. U.S. regulators stepped in over the weekend to guarantee the deposits of SVB, but this did little to reassure investors that there will be no more fallout. In the money markets, a closely watched indicator of credit risk in the U.S. banking system edged up on Monday, as did other indicators of credit risk in the euro zone

SVB Capital and SVB Securities are separate divisions of SVB Financial and not part of Silicon Valley Bank, which is undergoing resolution under the jurisdiction of the Federal Deposit Insurance Corporation ("FDIC") and the U.S. Federal Reserve.

Much will depend on what U.S. consumer price figures reveal on Tuesday, with an obvious risk that a high reading will pile pressure on the Fed to hike aggressively even with the financial system under strain.

CreditAccess had 1,727 branches across 14 states and one Union Territory at the end of December.Its gross loan portfolio rose by 7.5% sequentially to Rs 17,786 crore in Q3

Vinod Nair, Head of Research at Geojit Financial Services, said: bloodbath was seen in the global market as the fallout of Silicon Valley Bank was followed by turmoil at Signature Bank, keeping investors worried about the strength of the US banking system.

The company has paid out a dividend of Rs 6 per share in the last 12 months, which results in a dividend yield of Rs 5.4% if we consider the current share price levels. Adjusting for the bonus and splits, the dividend yield is 3.6%.

Nifty is now trading below all its important averages, and the slope of the average has tilted lower. Prices on the daily chart are trading within the falling channel pattern and have to find the overhead resistance near the upper band of the pattern, chart readers said.

In the two months of the volatile phase with a bearish bias, market breadth has been the biggest casualty. Even in such times during this period, some stocks have seen an improvement in their analyst scores. The selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.

Closing Bell: Sensex extends losses to 3rd straight session, plunges 897 pts; Nifty drops below 17,200; Tata Motors falls 3%, M&M 2%

The top multi-cap, smallcap, midcap, and thematic funds of Saurabh Mukherjea’s Marcellus Investments gave negative returns of up to 4.6% in February, data collated by PMSBazaar showed.

Indian regulators too were on the edge when similar incidents raised concerns over the health of the financial systems. Below is a brief history on banks that failed

“During the past decade, the top 4 players (Asian, Berger, Kansai, and Akzo) have grown at the cost of unorganized players, with a revenue CAGR of approximately 11% (compared to the industry's 9% CAGR)”

“When liquidity is in abundance, one can afford to risk an assets-liability mismatch and invest in higher yielding long-dated assets. However, when the liquidity dries out the same long-dated assets, whether credit book or treasury bonds, start hurting.”

The Indian stock market has crashed after the failure of Silicon Valley Bank and Signature Bank in the US. This has caused global equity markets to fall, and has caused fears of contagion in the Indian banking system.

For Solanki, the digital theme could stand out for investors over a long period as the government has significant emphasis on 'Digital India' story. He said some of the popular funds in this space are Tata India Digital Fund and ICICI Prudential Nifty IT Index Fund.

Fear gauge index India VIX jumped 15% as all sectoral indices were trading in the red today.

The rally also came as investors cheered more evidence of China's recovery, and after Beijing surprised by keeping the head of the central bank and finance minister in their posts at the annual session of parliament on Sunday

The group's presence in India is reportedly erstwhile. Stating that the group had an NBFC subsidiary in India known as SVB India Finance, Jefferies clarifies that it which was sold to Temasek and United Overseas Bank (SG) in 2015.

Fear gauge index India VIX jumped 15% as all sectoral indices were trading in the red today.

According to the media reports, American private equity firm Blackstone was looking to sell its complete stake in the company through a block deal on Monday

Stating that an underrated skill set for running a business is being pessimistic, he said one should consider everything a risk and do everything they can to mitigate it. "Every business will be exposed to a black swan event at some point; the idea is to survive those," Kamath said

U.S. interest rate futures surged and a hard-running rally in short-term bonds extended, putting two-year Treasuries on course for their best three-day gain since Black Monday in 1987.Bank stress and the resultant shakeout of loan books mean higher borrowing costs, said Akira Takei, fixed income portfolio manager at Asset Management One in Tokyo, with the resulting pressure in the real economy making further hikes difficult

"This acquisition makes excellent strategic sense for our business in the UK," HSBC CEO Noel Quinn said in a statement.

Global brokerage Macquarie also echoed the view saying that amid all the gloom and doom in global banks, Indian lenders are distinguished with hardly any exposure directly or indirectly to SVB.

In the two months of the volatile phase with a bearish bias, market breadth has been the biggest casualty. Even in such times during this period, some stocks have seen an improvement in their analyst scores. The selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.

The Indian sugar sector has gone through a transformation. From being just a provider of an essential commodity, to being the largest provider of ethanol. Some companies have shifted their focus and have gone through restructuring to focus on ethanol only. As the underlying macro changes sugar companies are making a comeback on the analyst list.

"This acquisition makes excellent strategic sense for our business in the UK," HSBC CEO Noel Quinn said in a statement.

Global brokerage Macquarie also echoed the view saying that amid all the gloom and doom in global banks, Indian lenders are distinguished with hardly any exposure directly or indirectly to SVB.

He said that his feeling was that while the Fed will be showing the stick by raising interest rates and tightening liquidity, hoping that this will curb the demand, it will continue to provide liquidity, hoping that SVB kind of accidents does not occur.

The brokerage firm Kotak Institutional Equities on the tenure of Kathpalia said, "the RBI has given shorter-than-requested tenors to other banks in the past, and we have not been able to identify any specific reasons to explain this decision from the regulator. A tenor lower than requested is always a point of debate with investors, and it would continue to be so with IIB in the next two years as well."

The bank had $209 billion in assets and about $175.4 billion in deposits as of December 2022. The main office and all branches of it will reopen on March 13, and all insured depositors will have full access to their insured deposits no later than Monday morning, according to a statement from the FDIC.

The stock faced stiff resistance twice above Rs 900 levels in the past 2 weeks which suggests that there is strong selling pressure around these levels. Hence, any bounce back towards Rs 900 can be used as a selling opportunity, suggest experts.

So far in 2023, Nifty has fallen over 4% amid weak global cues. Also, the collapse of Silicon Valley Bank put a slight negative sentiment on the markets. However, a host of analysts shared their tech views on particular stocks for the near term. These stocks belong to various sectors such as energy, household appliances and consumer durables. Here is a list of 6 tech picks from various analysts:

Joshi joined Infosys in 2000 and has since worked in different capacities for the firm. In his previous role, he was responsible for leading the financial services business in Europe. In 2007, he was appointed as CEO of Infosys Mexico and was instrumental in setting up the first subsidiary in Latin America.

Despite the sharp correction that stocks have seen recently, most of them are trading way above industry average price-to-earnings multiples. Given the risks to earnings growth, stocks are likely to remain out of favour, feel analysts.

The price of this company has tested the bottom range of Rs 186-Rs 180 on several occasions in the recent past. After forming a double bottom at Rs 180, the prices had formed a higher low and have now given a multi-month trendline breakout. The breakout in price is accompanied by a rise in volume, which increases the reliability of the breakout.

Yes Bank's fall was despite the overall markets doing well around this time. Frontline index Nifty50 was trading at 17,498.40, up by Rs 85.50 or 0.49% from the Friday closing. Meanwhile, the 30-stock S&P BSE Sensex was trading 366.49 points or 0.62% up at 59,501.62.

Citi maintained a Neutral rating on Tech Mahindra with a target price of Rs 1,120. The brokerage firm said that it expects a favourable stock price reaction with the appointment of Mohit Joshi.

Godfrey Phillips shares have outperformed the bench marks on a consistent basis. According to data sourced from StockEdge, the returns given by this counter over the last 2, 5 and 10 years are 112%, 138% and 220% respectively with an exception of the last three months where they have been nearly negative 2%.

Adani stocks have been on a winning spree since last week as positive headlines dominated conversations around the Ahmedabad-based airport-to-apples conglomerate which has been under tremendous scrutiny since the release of a scathing report by Hindenburg Research.

Silicon Valley Bank shut down by California regulator; appoints FDIC as a receiver. Fed to review discount rates to be charged! ET NOW's Managing Editor nikunj Dalmia decodes the India impact.

From the Sensex pack, Tech Mahindra was the top gainer, rising nearly 9%. HCL Tech, TCS, Tata Steel, Wipro, ICICI Bank and Reliance also opened higher. On the other hand, IndusInd Bank, Titan, Nestle and NTPC opened lower.

Despite the sharp fall, the daily momentum indicator still has a positive crossover, suggesting that this dip should be bought into. Until Nifty breaches, this range decisively on either side the range bound action is likely to continue, and we might see sector rotation and stock specific action,"

ndian shares edged up on Monday, helped by gains in heavyweight information technology shares led by a rally in Tech Mahindra after the company named a new chief executive, while investors awaited inflation data due later in the day. The Nifty 50 index rose 0.6% to 17,519.05, while the S&P BSE Sensex gained 0.6% to 59,474.30, as of 09:25 a.m. IST.

Over the last five financial years, the cap on sugar exports has varied. In 2018-19, 2019-20, 2020-21 and 2021-22, sugar companies were allowed to export 3.8 million tonnes, 5.9 million tonnes, 7 million tonnes and 11 million tonnes, respectively.

It was a wild ride for markets last week. Expectations for Fed rate increases surged in the wake of hawkish comments by Chair Jerome Powell, only to be reversed as fears around the banking sector and a mixed report on jobs helped fuel a rally in Treasuries. By week’s end, the market was back to pricing a quarter-point Fed hike as the most likely outcome, having at one stage come around to the idea of a half point.

SVB became the biggest US lender to fail in more than a decade on Friday, after a tumultuous week that saw an unsuccessful attempt to raise capital and a cash exodus from the startups that fueled its rise.