Daily Stock Market News: Sensex Closed At 59,015 Points, Corrected 125 Points Today. Nifty Closed At 17,585 Points, Corrected 44 Points Today And Bank Nifty Closed At 37,811 Points, Gained 143 Points Today.
Daily Stock Market News : 17-09-2021
Top Gainers Of Today’s Stock Market
Top Losers Of Today’s Stock Market
Today Markets Are Very Volatile, Markets Opened Strongly And Rallied Strongly. But Suddenly Huge Fall In Nifty, More Than 200 Points Fall. Not Only Nifty Even Sensex And Bank Nifty Also Fallen Hugely.
Specially Mid Cap Stocks Has Fallen A Lot And Bank Nifty Closed In Green Due To Banking Stocks Like Kotak Mahindra And HDFC Bank. In Banking Space PSU Banks Fallen More. Yesterday Nirmala Sitharaman Announced Regarding Bad Loan Which Is Positive For Banks, But Why did PSU Banks Fallen ?, We Will Discuss It Later.
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What Is Bad Bank
Bad Bank Means, Every Bank Will Have NPA (Non-Performing Assets ). Each And Every Bank Wil Recover Their Non Performing Assets In Different Ways.
Due To NPA’s, It Will Affect The Balance Sheet OF The Bank And There Is No Use For Banks With Non Performing Assets Because The Banks Will Not Receive Any Interest From Non Performing Assets.
So, Because Of These Reason. All Banks Combinedly Introduced The Concept Of Bad Bank. Government Is Also Positive On The Concept Of Bad Bank.
Government Said That They Are Going To Establish Bad Bank, Which Is Called NARC ( National Asset Reconstruction Company ).
What This Company Does Is, They Will Take All The Non Performing Assets From The Banks And Gives Some Amount To Banks Initially And Later Will Give More Cash After Selling The Non Performing Assets.
The Advantage For Banks Due To Bad Bank Concept Is, Due To NPA’s Banks Can’t Generate Any Interest And Additionally It Will Impact There Balance Sheet.
Now, If They Transfer Their NPA’s Too Bad Bank. Their Balance Sheet Will Become Strong And Will Receive Some Amount Of Cash. At least From That Money, They Can Generate Some Interest. And If The Bad Bank Succeeds To Monetize The NPA’s Of The Bank And Convert It Into Cash It Will Be Very Big Advantage For Banks.
Bad Bank Concept Is Positive News For Banks. Then Why PSU Banks Has Fallen Today ?. The Reason For This Fall Is, The Markets Are Always Ahead Of The Current Situation. Yesterday Already Due To Speculation Or In The Anticipation Of Bad Bank Concept, The Banking Stocks Rallied.
Yesterday Evening The Announcement Came Out, But Before That Only The Banking Stocks Rallied. Remember Markets Are Always Ahead Of The Current Situation.
As The PSU Banks Already Rallied Yesterday, Today The Stocks Not Rallied And Due To Market Pressure, The PSU Banking Stocks Has Fallen.
The Subsidiary Of Biocon Which Is Biocon Biologics Has Partnered With The subsidiary Of Serum Institute Of India Which Is Serum Institute Life Sciences.
Serum Institute Of India Is The Manufacturer Of COVISHIELD Vaccine. Serum Institute Bought 15% Of The Stake In Biocon Biologics. At A Valuation Of 4.9 Billion Dollars. And Made A Deal That Every Year Biocon Subsidiary Will Manufacture 100 Million Doses Of Vaccine. The Deal Is For Next Fifteen Years, This Is A Positive News For Biocon.
Indigo Rallied More Than 10% And SpiceJet Also Rallied More Than 3%. The Reason For The Rally In Aviation Stocks Is That Before the Opening Of The Market Aviation Data Came Out.
Aviation Data For August Month Increased 34% Month On Month. As the Data Is Very Positive, Aviation Stocks Rallied Today.
Kotak Mahindra Bank
As Nifty And Sensex Ended In Red, Bank Nifty Ended In Green. The Main Reason For This Is Due To The Rally Of Kotak Mahindra Bank And HDFC Bank. Kotak Mahindra Bank Rallied More Than 5%.
The Reason For This Rally Is, Kotak Mahindra Bank Acquired The Vehicle Finance Portfolio Of Volkswagen Finance. By This Acquisition, Kotak Mahindra Bank Will Get 30 Thousand High-Quality Customers And It Will Increase There Base In-Vehicle Finance Division.
Global Broking Agency CLSA Made Positive Comments On ITC And Given Buy Rating Even At Present Levels With A Target Price Of 265 Rupees. The Main Reason That They Mentioned Is The FMCG Business Of ITC May Grow In Double Digits In The Next Two Years And With 12% volume Growth In Their Tobacco Business.