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IDFC First Bank's stock plummeted 16% after a 590 crore fraud was discovered at its Chandigarh branch. This incident has significantly dented its valuation multiple, shrinking its price-book ratio to 1.3. The bank faces potential pressure on its CASA deposits as the Haryana government de-empanelled it, raising concerns for other smaller lenders.
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News and Media
Indian equity benchmarks rose on Monday, with the Nifty and Sensex gaining 0.6% amid mixed investor sentiment. While optimism surrounded lower US tariffs, renewed negotiation uncertainty loomed. Foreign portfolio investors were net buyers, contributing to the market's uptick, though the IT sector saw a decline.
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News and Media
Europe lags far behind the US and China in orbital space launches, but new facilities are opening up.
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News and Media
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