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State Bank of India (SBI) on Monday said it has raised Rs 25,000 crore through Qualified Institutional Placement (QIP) to fund business growth.
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LIC increased its stake in SBI from 9.21% to 9.49% through participation in SBIs record Rs 25,000 crore QIP. The offering saw overwhelming interest, receiving bids worth Rs 1.10 lakh crore from 120 institutional investors globally.
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Rajesh Bhosale of Angel One suggests a bullish outlook on ICICI and HDFC Bank, anticipating ICICI Bank to lead the momentum. Nifty and Bank Nifty have bounced back from their 50 EMA, with Nifty expected to trade between 24,900 and 25,250. However, Reliance Industries is showing weakness, potentially retesting levels of 1400, advising investors to wait before buying.
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Swarup Mohanty of Mirae Asset Investment Managers highlights India's structural growth story and its increasing negotiation power in global trade. He emphasizes the shift towards retail investors and the unique demographic of multiple generations investing together. Mohanty expresses confidence in India's ability to thrive independently, driven by domestic consumption and consistent data points, despite global uncertainties and tariff concerns.
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News and Media
Arvind Sanger from Geosphere Capital Management suggests markets are beginning to acknowledge the potential for sustained high tariffs, exceeding previous expectations. The uncertainty surrounding trade deals with major economies like Japan, the EU, and India, coupled with concerns about the Federal Reserve's interest rate policy, is creating turmoil.
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News and Media
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