Sun, Jun 20, 2021 2:21 PM
Nearly Rs 15 lakh cr MSME payments lingers annually; dues takes 3-6 months
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Shares of PSU bank stocks, at least four of which have more than doubled in value in just 1 year, fell up to 6% today with Canara Bank, Punjab National Bank and Bank of Baroda leading the downside. India's largest lender State Bank of India (SBI) also fell over 3% as a result of which Nifty PSU Bank index was down over 4%. The downside was an impact of RBI's draft circular proposing tighter guide.
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As far as quarterly results go, Amazon (NASDAQ: AMZN) shareholders have nothing to complain about right now. The e-commerce giant's first-quarter revenue of $143.3 billion and per-share earnings of $0.98 both topped estimates and were well up from year-ago levels. Amazon stock edged higher following Tuesday evening's release of the company's first-quarter report.
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Expert view: Pawan Bharadia, the co-founder of Equitree, believes the Indian stock market has factored in many positives, and there may be some profit booking after the election results are out. In an interview with Mint, Bharadia said that not all mid and small-cap space is frothy. For the Indian IT sector, Bharadia believes growth recovery could still be a little distant.
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