SBI and HDFC Bank have raised fixed deposit (FD) interest rates, with SBI increasing rates by 75 basis points (0.75%) for deposits maturing between 46-179 days, and HDFC Bank increasing rates by up to 20 bps (0.2%). While bank FDs offer security, fixed income mutual funds provide higher returns, with long-duration debt funds delivering 7.9% returns over a year.
Open FlipToday, shares of East West Holdings Ltd hit 20 per cent upper circuit to an intraday high of Rs 7.66 per share from its previous closing of Rs 6.39 per share. The company's shares saw a spurt in volume by more than 1.10 times on BSE. In March 2024, the promoters bought 44,86,164 shares and increased their stake to 61.28 per cent compared to 59.87 per cent in March 2023.
Open FlipMotilal Oswal Financial Services has recommended a 'buy' on ICICI Bank, raising the TP to ₹1,350, expecting robust double-digit growth in 2024-25. The brokerage firm anticipates healthy earnings growth, driven by operating leverage, with operating expenses growth pegged at 15%. They also expect private banks to approach an inflection point in FY25, with earnings growth deceleration bottoming out.
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