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Ashi Anand, Founder, IME Capital, says they are very comfortable with SBI. It is one of the top bets in their portfolio and they are not too concerned about Goldman downgrading SBI to sell and cutting target price. While deposits are relatively tough to get into, a lot of the credit costs have normalised, and there is still attractive growth coming in at attractive levels of profitability and valuations at about 1.3 times the book. Anand also said IME Capital has recently increased consumption and FMCG weights. The bank index has largely underperformed the Nifty. To date, they have dragged nearly 4.5%. In the PSU banking space, what is the gap between deposits and loan growth and the peaking of profitability? A Goldman Sachs note has downgraded SBI to sell and slashed its target price. What is your view on the PSU banks? Ashi Anand: Banking as a space has been underperforming and the core reason behind the underperformance has been that it has been tough to raise deposits over the two to three quarters. And because of the struggle to raise deposits, advance growth has also slowed down. This has led to some near-term pressure. Because of that, growth is slightly lower than expected and there is some amount on NIMs.

«Bank Nifty structure has turned little weak and the way Bank Nifty has broken its 20-day moving average, we believe that if remain below to 51,000 mark, I think there could be furthermore supply pressure we may see in the continuation of this down move and possibly Bank Nifty can attempt to move further towards 50,200, 50,300 zone, that is the next immediate support area based on the derivative data front,» says Rajesh Palviya, Axis Securities. Quickly take us through what levels you are spotting. Secondly, tell us if this correction that we have seen is a temporary blip or do you think we are going ahead and we are in for a lot more trouble coming in for the market? Rajesh Palviya: So, looking at the correction in the last couple of days, now Nifty slipped again back to below to 25,000 level. That was the major put-based concentration on the monthly series as well as for the weekly series. And we have broken these two support areas on the closing basis.

A federal judge on Friday gave the U.S. Justice Department until the end of the year to outline how Google should be punished for illegally monopolizing the internet search market and then prepare to present its case for imposing the penalties next spring

Boeing’s Starliner spacecraft was set to return to Earth, marking the end of a 14-year mission fraught with challenges. The uncrewed spacecraft was due to perform a crucial deorbit burn at 11:17 p.m. EDT, aiming for a landing at the White Sands Space Harbor in New Mexico shortly after midnight. The landing test would evaluate Starliner’s heat shield and a newly redesigned parachute system. Boeing's Starliner mission, a pivotal endeavor that started 14 years ago, is now reaching its critical phases as it makes its return journey to Earth. The spacecraft’s deorbit burn is a key maneuver needed to slow it enough for gravity to pull it back to the planet, targeting a safe landing at the vast, flat expanse of White Sands Space Harbor. The success of the landing will depend heavily on the deployment of its parachutes, followed by airbags to ensure a soft touchdown, expected around 12:03 a.m. EDT on September 7. NASA astronauts currently aboard the International Space Station (ISS) have been vocal in their support for the mission control team. Sunita Williams and Butch Wilmore offered encouraging words as Starliner prepared to undock and return home.

Amazon and Flipkart, are tipped to outdo brick-and-mortar shops in wooing smartphone buyers this festive season, offering discounts and deals even the most fastidious of shoppers can't seemingly refuse. Experts believe the big guns of e-commerce will corner nearly three-fifths of the smartphone market this festive season that begins with Ganesh Chaturthi. Discounts and deals, customised through smart and targeted marketing, are aimed at offsetting the sluggish start to the year for the category that remains among the biggest discretionary purchases in India. Better pricing deals from phone makers for the online channels are expected to tilt the scales in their favour. «Overall, the split is expected to be 50:50 for the second half of the year, but online is expected to grow faster than offline during the festive season because of the ongoing tiff with retailers over preferential pricing which is going to increase during the festive season sales,» said Upasana Joshi, research manager, IDC India.

Rachel Wolfson has been covering the cryptocurrency, blockchain and Web3 sector since 2017. She has written for Forbes and Cointelegraph and is the host and founder of Web3 Deep Dive podcast.

Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.

The IRS has collected $1.3 billion from high wealth tax dodgers since last fall, the agency says, crediting spending that has ramped up collection enforcement through President Joe Biden's signature climate, health care and tax package signed into law ...

Bharti Airtel, Reliance Jio and Vodafone Idea (Vi) have unveiled a host of limited-period offers that bundle generous dollops of extra data, over-the-top (OTT) streaming apps, gift vouchers and extended pack validity to hold on to their top-end, revenue-generating prepaid users, in the aftermath of the recent headline rate hikes. A day after Jio offered additional benefits worth ₹700 on its ₹899, ₹999 and ₹3,599 prepaid packs as part of its eighth anniversary offer, Airtel and Vi on Friday rolled out their own competitive festive offers to counter Jio amid rising competition in the battle to retain revenue-generating prepaid users. The latest battle to retain high-value prepaid users between India's top three telcos comes even as loss-making Vi itself is struggling to hold onto its own users. Vi's stock plunged almost 11.5% to close at ₹13.36 on the BSE on Friday, just days after its revenue market share (RMS) plummeted to an all-time low of 15% in the fiscal first quarter, as per latest data collated by the telecom regulator.

militants fired two rockets in Manipur's Bishnupur district on Friday. According to officials, security forces are on high alert as tension has gripped the Imphal Valley region following high-tech attacks over the past few days. The rocket attacks came after drones were used to drop bombs at two nearby places in Imphal West district earlier this week.

Rajasthan, and West Bengal. The government provided ₹6,500 crore for electrification work in the budget for FY25 which also includes unused funds from the previous year, one of the persons quoted above said. A query sent to the railway ministry remained unanswered till press time.

technical textile exports will cross the target of $10 billion set for 2030, textiles minister Giriraj Singh said Friday, adding that the country will soon produce niche carbon fibre which is used in aerospace, civil engineering and defence. At present, India does not produce any carbon fibre and relies on imports from the US, France, Japan and Germany. “The coming days belong to technical textiles in every sector… I am confident that in 2025-26 the niche carbon fibre product will also be with India,” Singh said at a technical textiles event organised by Ficci.

sale of its corporate office, One Earth Property, may strengthen Suzlon Energy's core, domestic brokerage firm ICICI Securities raised its target price to Rs 80 from the earlier Rs 70, while retaining its 'add' rating Suzlon Energy has entered into an agreement to sell and lease back its prime real estate in Pune over the next 5 years at Rs 440 crore.

deposit growth due to increasing competition from mutual funds (MFs) and other alternative investment options. At the FICCI-IBA banking conference, Indian Banks’ Association (IBA) chairman, MV Rao, highlighted that mutual funds offer higher returns as they are not subject to the same regulatory restrictions as banks. This has led to a shift in investor preferences towards MFs, making it difficult for banks to maintain a competitive edge in deposit mobilization. Rao emphasised that the regulatory framework governing banks, such as end-use monitoring and interest rate restrictions, limits their ability to provide attractive returns to depositors. He noted that mutual funds are not required to verify the end-use of funds or prioritize specific sectors, allowing them more flexibility and higher yields. “MFs do not have end-use verifications and restrictions on priority sector or to the MSME or government schemes. That’s why MFs can offer more than bank deposits,” said Rao, who also serves as CEO of Central Bank of India. Bankers across the sector have expressed concerns about the systemic risks posed by this trend. Rao warned that most MF investors are not conducting proper analysis and may face significant risks in the future if market cycles shift. HSBC India CEO Hitendra Dave added that blaming MFs might not be the solution, as liquidity eventually returns to the banking system. Dave urged banks to study the underlying factors affecting deposit growth rather than focusing solely on MF competition.

Giriraj Singh on Friday expressed confidence that the niche carbon fibre — which is used in aerospace, civil engineering and defence as an alternative to metal — will be produced by India in 2025-26. Currently, India does not produce any carbon fibre and relies completely on imports from countries such as the US, France, Japan and Germany. The European Union's proposed Carbon Border Adjustment Mechanism, a tax on embedded carbon imports, is expected to kick in from 2026. «The coming days belong to Technical textiles in every sector… I am fully confident that in 2025-26 the niche carbon fibre product will also be with India,» Singh told reporters here.

net zero by the middle of the century and align itself with the Paris Agreement, according to BloombergNEF, a target that’s unlikely to be met due to the government’s push for the continued use of coal. The world’s third-biggest emitter needs $12.4 trillion in investment to reach net zero ahead of its official target of 2070, BNEF said in its New Energy Outlook for India published Thursday. That includes funding to accelerate clean energy deployment, large-scale adoption of electric vehicles, and scaling up new technologies like carbon capture and green hydrogen to decarbonize the coal-dependent economy. The report comes as India expands renewables but remains heavily reliant on coal to meet the power needs of the world’s largest population, prompting calls for it to be more ambitious in weaning itself off the dirtiest fossil fuel to support the Paris Agreement goal of keeping global warming below 2C (3.6F).

SBI Cards and Payment Services on Friday surged 6% to its day’s high of Rs 811.85 after the global brokerage firm Goldman Sachs upgraded the stock to a buy rating, raising its target price to Rs 913 from an earlier Rs 652. The upgrade from the global brokerage firm comes as it believes that the stock’s downcycle is nearing the bottom and the improving pre-provision operating profit (PPOP) outlook is likely to support the EPS visibility.

Sebi officers across grades protested Thursday at the headquarters of the capital markets regulator in Mumbai’s financial nerve centre, demanding the resignation of chairperson Madhabi Puri Buch while also seeking withdrawal of the organization’s media statement that described their letter to the Centre as a likely fallout of instigation by unidentified ‘external elements’. The silent protest held within the premises of Sebi Bhavan, in Bandra Kurla Complex, lasted for one and a half hours. This is the second silent protest by the officers this year after their complaints about HR issues to the top management went unheard. The first protest—a 15-minute sit-in — was held on August 5, a day before the employees sent their complaint to the finance ministry.

Kangana Ranaut announced on Friday that the release of her much-anticipated film "Emergency" has been postponed due to pending certification from the Central Board of Film Certification (CBFC). Initially slated for release on September 6, the new release date will be announced soon. The decision comes after the Bombay High Court stated it could not direct the CBFC to issue the certificate, aligning with an earlier MP High Court order. Taking to X (formerly known as Twitter), Kangana Ranaut wrote, «With a heavy heart I announce that my directorial Emergency has been postponed, we are still waiting for the certification from censor board, new release date will be announced soon, thanks for your understanding and patience.»

" Definitely, SBI for a long time, has seen a downfall today. But looking at the bigger picture for State Bank, I think there is a long way to go," says Dharmesh Shah, Head-Technical, ICICI Direct. The PSU pack which has been leading the Nifty lower, so how are you looking at the PSU banks right now after the sharp fall that we have seen in the last couple of days, anything that looks good to you? Dharmesh Shah: Yes, definitely, PSU as a sector has been not in limelight for a long time. So, one should not forget that they have seen a fantastic rally for last six months.

Fed Chief Jerome Powell unambiguously stated at the Jackson Hole Economic Symposium that “the time has come for policy to adjust.” Clearly, barring unforeseen circumstances, the rate-cutting cycle in the US will start in September. Powell’s comment, “the upside risk to inflation has diminished and the downside risk to unemployment has increased,” is, without any doubt, a more dovish message than the markets had expected.