The 10-year G-Sec yield falling off a recent peak has resulted in immediate treasury gains for the banks that hold a lot of these bonds on their books in their available-for-sale (AFS) category. However, bond yields and prices have an inverse correlation. To talk about what is going so right for the sector that have had an extended rally, CNBC-TV18 spoke to Dinesh Khara, MD, State Bank of India and MB Mahesh of Kotak Institutional Equities.
According to Khara, even more than the benefit of falling yields, government's focuses on structural reforms will help the recovery process for the sector. Second is the risk evaluation system put up by banks has had a positive impact and, thirdly, it has been the macro-economic situation where the rural economy is likely to pick up post better monsoons, 7th Pay Commission etc. “All these ensure a better landscape for the banking sector,” he said.
IRB Infrastructure Developers on Thursday said IRB InvIT Fund, an infrastructure investment trust, has filed draft red herring prospectus with SEBI for Rs 4,300 crore initial public offering. "Investment manager IRB Infrastructure Private Limited has filed a draft offer document dated September 7, in relation to an initial public offer of units representing an undivided beneficial interest in the Trust, with the SEBI, the BSE and the NSE, in accordance with the InvIT Regulations," the Mumbai-based road developer said in its filing. IRB Infrastructure Developers on Thursday said IRB InvIT Fund, an infrastructure investment trust, has filed draft red herring prospectus with SEBI for Rs 4,300 crore initial public offering. "Investment manager IRB Infrastructure Private Limited has filed a draft offer document dated September 7, in relation to an initial public offer of units representing an undivided beneficial interest in the Trust, with the SEBI, the BSE and the NSE, in accordance with the InvIT Regulations," the Mumbai-based road developer said in its filing.
The market is volatile with the Nifty struggling below 8950. The 50-share index is up 11.40 points or 0.1 percent at 8929.35 and the Sensex is up 51.52 points or 0.2 percent at 28977.88. About 1526 shares have advanced, 1020 shares declined, and 180 shares are unchanged.
Tata Steel, Bajaj Auto, Hero MotoCorp, Sun Pharma and Maruti Suzuki are top gainers in the Sensex while TCS, Wipro, Infosys, GAIL and Tata Motors are losers.
Domestic passenger vehicle sales grew 16.68 percent to 2,58,722 units in August from 2,21,743 units in the same month last year. Car sales were also up 9.53 percent to 1,77,829 units as against 1,62,360 units in August last year, according to the data released by the Society of Indian Automobile Manufacturers (Siam). Motorcycle sales last month jumped by 22.19 percent to 10,05,666 units as against 8,23,051 units a year earlier. Total two-wheeler sales in August grew 26.32 percent to 16,48,883 units compared with 13,05,348 units in the year-ago month.
According to Khara, even more than the benefit of falling yields, government's focuses on structural reforms will help the recovery process for the sector. Second is the risk evaluation system put up by banks has had a positive impact and, thirdly, it has been the macro-economic situation where the rural economy is likely to pick up post better monsoons, 7th Pay Commission etc. “All these ensure a better landscape for the banking sector,” he said.
IRB Infrastructure Developers on Thursday said IRB InvIT Fund, an infrastructure investment trust, has filed draft red herring prospectus with SEBI for Rs 4,300 crore initial public offering. "Investment manager IRB Infrastructure Private Limited has filed a draft offer document dated September 7, in relation to an initial public offer of units representing an undivided beneficial interest in the Trust, with the SEBI, the BSE and the NSE, in accordance with the InvIT Regulations," the Mumbai-based road developer said in its filing. IRB Infrastructure Developers on Thursday said IRB InvIT Fund, an infrastructure investment trust, has filed draft red herring prospectus with SEBI for Rs 4,300 crore initial public offering. "Investment manager IRB Infrastructure Private Limited has filed a draft offer document dated September 7, in relation to an initial public offer of units representing an undivided beneficial interest in the Trust, with the SEBI, the BSE and the NSE, in accordance with the InvIT Regulations," the Mumbai-based road developer said in its filing.
The market is volatile with the Nifty struggling below 8950. The 50-share index is up 11.40 points or 0.1 percent at 8929.35 and the Sensex is up 51.52 points or 0.2 percent at 28977.88. About 1526 shares have advanced, 1020 shares declined, and 180 shares are unchanged.
Tata Steel, Bajaj Auto, Hero MotoCorp, Sun Pharma and Maruti Suzuki are top gainers in the Sensex while TCS, Wipro, Infosys, GAIL and Tata Motors are losers.
Domestic passenger vehicle sales grew 16.68 percent to 2,58,722 units in August from 2,21,743 units in the same month last year. Car sales were also up 9.53 percent to 1,77,829 units as against 1,62,360 units in August last year, according to the data released by the Society of Indian Automobile Manufacturers (Siam). Motorcycle sales last month jumped by 22.19 percent to 10,05,666 units as against 8,23,051 units a year earlier. Total two-wheeler sales in August grew 26.32 percent to 16,48,883 units compared with 13,05,348 units in the year-ago month.
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