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IDBI, SpiceJet among 10 stocks that saw sharpest fall, down up to 21% this week. Do you own any?
Indian markets witnessed a broad-based sell-off amid escalating Middle East tensions and rising crude oil prices. Several stocks, including IDBI Bank and SpiceJet, declined sharply during the week. Geopolitical risks, inflation concerns, and regulatory developments weighed on investor sentiment, dragging multiple sectors lower despite selective resilience in parts of the market.
cityfalcon.com·15d ago
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SBI receives Rs 6,338 crore income tax demand for AY24
State Bank of India is contesting a Rs 6338 crore income tax demand for assessment year 2023-24. Meanwhile, IDBI Bank faces a Rs 5.5 crore penalty for FY 2020-21, and ICICI Bank received a Rs 384 crore GST demand from Maharashtra.
cityfalcon.com·15d ago
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83% BSE 500 stocks suffer losses amid Iran-Israel war; 101 slump in double digits up to 35%. Do you own any?
The Iran-Israel/US war has triggered a broad sell-off in Indian equities, with 83% of BSE 500 stocks trading in the red. Rising energy prices and the US Federal Reserve holding interest rates have compounded market woes, alongside a falling rupee. Company-specific issues, like IDBI Bank's divestment concerns, have also impacted sentiment.
cityfalcon.com·16d ago
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India may shelve privatisation of three state firms on weak investor appetite
The stake sale in IDBI Bank has collapsed, while SCI and HLL Lifecare have received little investor interest.
cityfalcon.com·17d ago
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India’s privatisation drive derails because of weak investor interest in state-run firms: report
India is considering shelving three planned privatisation sales amid weak investor appetite, two government sources said, a slump that has already derailed its attempt to sell a stake in IDBI Bank and is a fresh blow to the government’s flagship divestment programme. The privatisation plan, delayed for years, is now facing fresh setbacks that include dwindling interest in state-run firms such as Shipping Corporation of India and HLL Lifecare, besides the collapse of the IDBI Bank stake sale last week after bids fell short of the government’s minimum price. India’s finance, shipping and health ministries and the companies did not respond to Reuters ’ queries. Indian Prime Minister Narendra Modi’s ambitious privatisation plan was aimed at having the state exit most sectors while remaining only in sensitive ones such as telecom and banking. But the government could only sell Air India to Tata Sons, and indirect holdings in steel-maker Neelachal Ispat Nigam Ltd to Tata Steel, and Ferro Scrap Nigam to Konoike Transport Co.
cityfalcon.com·17d ago
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