Latest news with #post-RBI
Hans India
15-06-2025
- Business
- Hans India
Nifty under pressure as Israel-Iran tensions escalate; Key levels to watch on June 16
The Indian equity markets ended a volatile week in the red, dragged by both expiry-related choppiness and escalating geopolitical tensions. The Nifty declined for two straight sessions, closing the week on a weak note as Israel launched a fresh offensive on Iran, prompting retaliation and escalating concerns of wider regional conflict. While India remains uninvolved directly, the economic ripples are hard to ignore. Brent crude spiked nearly 13% on Friday, briefly nearing $80/barrel—just days after hovering near $60. This surge in oil prices raised alarm bells across Dalal Street, with fears of higher inflation, a widening import bill, and possible dilution of RBI's recent monetary policy measures. The Nifty did show some resilience by bouncing back 250 points from its intraday low of 24,472 on Friday—defending the crucial May 22 swing low of 24,462. However, the rebound wasn't enough to soothe broader concerns. With global markets reacting sharply—Dow Jones plunging over 700 points and safe havens like gold and bonds rallying—the domestic outlook remains shaky. One major drag continues to be the Nifty Bank index, which has corrected more than 1,500 points over the past four sessions, giving up all post-RBI policy gains and slipping toward the psychological 55,000 mark. Technical analysts now peg this level as critical support, with resistance seen at 56,000. Rajesh Bhosale of Angel One highlighted that Nifty remains rangebound between 24,450–25,200, with key support at 24,400–24,450 aligned with its 50-day moving average. A move above 24,825 and reclaiming 25,000 is crucial for bullish momentum. "We maintain a cautious stance and advise a wait-and-watch approach," he added. Vaishali Parekh of Prabhudas Lilladher echoed similar views, noting that only a decisive breakout above 25,000 would signal a trend reversal, while 24,000 remains a vital support zone for market stability. Nandish Shah from HDFC Securities warned that breaching 24,462 could intensify sell-offs, with the next downside target at 24,164. On the upside, resistance levels are noted at 24,847 and 24,936. Meanwhile, Om Mehra from SAMCO Securities emphasized the importance of defending 55,000 on the Nifty Bank, with a break below that increasing downside risks. A sustained close above 56,000 could revive bullish sentiment. As the conflict evolves, investors are advised to remain cautious. Unless tensions ease before Monday's open, volatility could persist, with global cues likely to dominate trade direction.
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Business Standard
11-06-2025
- Business
- Business Standard
Earn up to 7.65% with Indian Bank's IND SECURE FD: Offer ends in Sept
Indian Bank revises IND SECURE FD rates, now offering up to 7.65 per cent p.a. for 444 days, available till September 30 New Delhi Indian Bank has revised the interest rates on its special fixed deposit scheme, IND SECURE, offering up to 7.65 per cent per annum for a limited period. The new rates are effective from June 9, 2025, and the scheme will be open for investment until September 30, 2025. IND SECURE: A high-interest FD option Launched on May 8, 2025, IND SECURE is a retail term deposit product with a maturity period of 444 days. The scheme allows deposits starting from Rs 1,000 to under Rs 3 crore. The revised interest rates under the scheme are: · General public: 6.90 per cent per annum · Senior citizens: 7.40 per cent per annum · Super senior citizens (80 years and above): 7.65 per cent per annum Earlier, the highest rate under this scheme was 7.15 per cent for the general public, 7.65 for senior citizens and 7.90 per cent for super senior citizens. The latest revision lowers rates, but still offers relatively attractive returns, especially for older investors. 'The bank reserves the right to withdraw or modify the scheme at its discretion before the deadline,' Indian Bank noted on its website. IND GREEN deposit: Rates unchanged Indian Bank's other special deposit, IND GREEN, aimed at promoting sustainable development, continues to offer existing interest rates for a 555-day term. This scheme, too, accepts deposits from Rs 1,000 up to less than Rs 3 crore. Current rates are: · General public: 6.80 per cent · Senior citizens: 7.30 per cent · Super senior citizens: 7.55 per cent Revised regular FD rates across tenures Alongside special schemes, Indian Bank has also updated its regular fixed deposit rates. For deposits below Rs 3 crore, the latest callable FD rates range from 2.80 per cent to 6.90 per cent, depending on tenure. The highest rate, 6.90 per cent, is now aligned with the IND SECURE offering for the general public. Indian Bank FD interest rate highlights: · 7 days to 45 days: 4.75 per cent – 5.25 per cent · 91 days to less than 1 year: 5.75 per cent – 6.00 per cent · 1 year: 6.25 per cent · 3 to 5 years and beyond: 5.50 per cent Senior and super senior citizens continue to earn an additional premium over the standard rates. Below is a table of the FD rate and tenures provided by the bank on its website Maturity Period Revised w.e.f 09.06.2025 Rate (% per annum ) 7 days to 14 days 2.8 15 days to 29 days 2.8 30 days to 45 days 3 46 days to 90 days 3.25 91 days to 120 days 3.5 121 days to 180 days 3.85 181 days to less than 9 months 4.5 9 months to less than 1 year 4.75 1 year 6.1 Above 1 year to less than 2 years (Except 444 & 555 Days) 6.6 444 Days 6.9 555 Days 6.8 2 years to less than 3 years 6.4 3 years to less than 5 years 6.25 5 year 6 Above 5 years 6 Should you invest? With repo rates trending lower post-RBI's recent policy move, fixed deposit rates across banks are beginning to soften. The IND SECURE scheme offers a short-term opportunity for savers, especially older investors, to lock in relatively higher returns for 444 days
News18
06-06-2025
- Business
- News18
IndusInd Bank Jumps 4% After RBI Officials' Comments On Lenders Recent Crisis
Last Updated: IndusInd Bank Ltd's shares rose over 4% on June 6 post-RBI officials' comments on the lender's recent troubles, including accounting lapses IndusInd Bank Share Price: IndusInd Bank Ltd's shares jumped over 4% on June 6 after the Reserve Bank of India (RBI) officials addressed concerns about the bank's recent accounting lapses and management turmoil. RBI Governor Sanjay Malhotra, at the post-monetary policy press conference in Mumbai, said, 'IndusInd Bank has taken enough steps to improve accounting practices. The bank is doing well overall." He added, 'IndusInd MD and CEO have resigned, which should be good enough. Law will take its course on the IndusInd fraud. We won't fail in our duty if we have to step in." RBI Deputy Governor J. Swaminathan also sought to calm investor nerves, stating, 'On IndusInd, the issue should settle down very soon. We will keep monitoring the banking system and see no systemic impact arising from the IndusInd Bank issue." At 1 pm on June 6, IndusInd Bank shares were trading 4.2% higher at ₹837.2 apiece. Governor Malhotra further noted, 'Normally, we do not comment on individual banks. Let us not be speculative on IndusInd Bank fraud." IndusInd Bank has been navigating a troubled phase. A forensic audit is currently underway after it disclosed a Rs 2,000-crore hit to its net worth in March due to lapses in derivatives accounting. Subsequent probes have uncovered additional accounting irregularities. The bank is now in the process of appointing a new leadership team, including a new CEO. SEBI's preliminary findings cited emails showing the senior management was aware of the accounting discrepancies as early as December 2023 and acknowledged their 'huge impact" internally.
Mint
06-06-2025
- Automotive
- Mint
15,600% rally in five years! Small-cap EV stock jumps in a rally post-RBI MPC meeting outcome
Stock Market Today: Having seen 15,600% rally in five years, the small-cap EV stock gained in the intraday trades on Friday in a rally post-RBI MPC meeting outcome was announced. Check details While the sharp gain in the Indian Stock Markets following a sunrise 50 bps or basis point. also supported the gain for the small-cap EV stock MERCURY EV-TECH LIMITED. A surprising 50 basis point rate Cut decision boosts the Indian stock market, sending the benchmark Indices as S&P BSE Sensex up 800 points and the Nifty-50 index above the 25,000 mark. Besides the strong market sentiments led by RBI's interest rate decisions, the gains for Mercury EV-tech Ltd also were driven by the announcement following Business update. Small-cap EV stock Mercury EV-Tech business on Thursday 5, June, 2025 intimated the BSE or the Bombay stock Exchange about a business update. As per the business u[date announced by Mercury Ev-Tech Limited, the company has inaugurated a new showroom located at Shop No. 5, Near Sagar Complex, Jashonath Circle, Bhavnagar, Gujarat. Its other business its faculties include a chassis Manufacturing. unit. This is a state-of-the-art facilities with advanced machinery for diverse chassis types. MANUFACTURING FACILITY & CAPACITY: It has a 3.2 GW Lithium-Ion Battery Manufacturing Facility (Vadodara), The company has placed additional order for a fully robotic, high-throughput production line from a top-tier equipment provider. Equipment is expected by end of May, pilot production by mid-June 2025. It has Designed as a next-generation battery architecture hub with infrastructure for a wide range of chemistries. Multi-chemistry flexibility to cater to electric mobility and stationary energy storage. Capable of producing LFP, NMC, Sodium-Ion Cells, and Super Capacitor Modules Small-cap EV stock Mercury EV-Tech Share price touched intraday highs of ₹ 59.94 , which translated in to gains of more 1% The Small-cap EV stock Mercury EV-tech share price despite sharp corrections in the recent past, the Mercury EV-tech is still up 1560 % in the last 5 years. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
