Mon, Jul 1, 2024 3:45 PM
SBI gets a new chief: Can Setty make the elephant of Indian banks dance
A Flip by Riya Sharma
As the S&P BSE Sensex raced to 80,000 points, with the last 10,000 points coming at its fastest pace, its 13 constituents managed to outperform the index. The outperformers were 💰ICICI Bank, 💰Axis Bank, 💰SBI, 💰Power Grid Corporation, 💰Adani Ports, 💰Bharti Airtel, 💰Tata Motors, 💰Tata Steel, 💰NTPC, 💰Reliance Industries, 💰Sun Pharmaceuticals, 💰UltraTech Cement, and 💰Tech Mahindra.
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Neo Asset Management, the asset management arm of Neo Asset & Wealth Management, has hired an executive from a KKR & Co-backed infrastructure company. The Mumbai-based asset manager operates in private credit and infrastructure, managing assets valued at an undisclosed amount. The new hire is expected to strengthen the company's capabilities in these areas.
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State-run companies HUDCO and IREDA saw a significant surge in their stock prices, with HUDCO reaching a record high of ₹304 and IREDA rising 9% to ₹225. A block deal in HUDCO valued at ₹242 crore and another in IREDA worth ₹189.4 crore took place, with shares changing hands at average prices of ₹299 and ₹213 respectively. The trend is attributed to the companies' applications to be considered.
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