The restructuring plan which involves capital infusion of Rs 7,250 crores by SBI, Rs 1,000 crores each by HDFC Bank and ICICI Bank, Rs 600 crores by Axis Bank and Rs 500 crores by Kotak Bank has come as a big relief.
Moreover, Federal Bank and IDFC First Bank board approved the investment of Rs 300 crore and Rs 250 crore, respectively, while Bandhan Bank granted approval for an equity investment of Rs 300 crore for acquiring up to 30 crore equity shares of Yes Bank.
Emkay Global maintains a sell call on the stock saying that sustainable revival will need many more steps, including continued capital support.
The must-have strategy to contain deposits run-down, and it will be a long battle for the bank to survive and thrive independently, the report added.
For SBI, the current reconstruction scheme takes away the immediate risk of a merger, and we hope that similar reconstruction schemes will be worked out for other weak private banks, Emkay said.
Stock cash tips , Equity tips , MCX tips
For Quick Trial – 91091 93302
or mail us
here: info@moneyplantresearch.com
or
visit https://www.moneyplantresearch.com
No comments:
Post a Comment