We raise our F21 and F22 EPS estimates ~5% each, as the tax rate cut outweighs lower margins. We downgr-ade to EW; upside appears limited given uncertainty on asset quality (for SBI and the system) and NIMs. We prefer large private banks where we see better EPS progression and re-rating.

Yes Capital (India) (YCPL), part of the promoter group of Yes Bank, on Thursday sold a 1.8% stake in the bank. The proceeds from the sale will be used to prepay the entire amount outstanding on non-convertible debentures (NCDs) of YCPL held by various schemes of Franklin Templeton Asset Management (India), YCPL said in a statement.

A meeting convened by PK Mishra, principal secretary to the Prime Minister, on the revival of Bharat Sanchar Nigam (BSNL) on Thursday ended without any conclusion, mainly on the question of whether the revival is possible or not.

It is learnt that the group of secretaries has been asked to study that matter in four-five days.

The United States wants New Delhi to quickly ease restrictions imposed in Kashmir, a senior official said after President Donald Trump met the leaders of India and Pakistan.

"We hope to see rapid action -- the lifting of the restrictions and the release of those who have been detained," Alice Wells, the top State Department official for South Asia, told reporters Thursday.

The ban on electronic cigarettes has been challenged in a court in Kolkata, marking the start of the first legal battle against the anti-vaping decision.

The government banned the sale, import and manufacture of e-cigarettes this month and warned of an “epidemic” among young people.

New Delhi: Ford Motor Company and Mahindra & Mahindra are likely to sign a deal next week to form a joint venture in India, two sources told Reuters, in a move that will see the US carmaker end most of its independent operations in the country.

The two companies have for months been structuring the deal to create a new entity in which Ford will hold a 49 per cent stake, while Indian rival Mahindra will own 51 per cent, Reuters reported in April.

TVS Motor Company today launched a matte edition for TVS Scooty Pep+ in two colour options – Coral matte and Aqua matte.

The company in a release has said that the new scooter was introduced to celebrate the 25 years of the Scooty brand.

Paytm Mall Maha Cashback Carnival: With Diwali just around the corner, Paytm Mall has announced its festival season sale with great deals on smartphones, laptops, TVs and other accessories. Customers will get benefits of over Rs 100 crores during the festive season on Paytm Mall.

Paytm Mall is launching the Maha Cashback Carnival starting from September 29, 2019 to October 6, 2019. Maha Cashback Carnival is offering customers exclusive deals, discounts and curated offers across categories.

Rebutting social media rumours swiftly, the Reserve Bank of India on Wednesday said no commercial banks are going to be shut.

Finance secretary Rajiv Kumar discribed such social media messages as “mischievous” saying the government was in process of strengthening public sector banks by infusing capital in them.

Mumbai: Equity benchmark BSE Sensex rallied over 400 points in early session on Thursday, led by gains in banking stocks, tracking positive cues from global markets.

After hitting a high of 39,008.83, the 30-share index was trading 384.54 points, or 1 per cent, higher at 38,978.06 at 0945 hours, while the broader Nifty rose 120.75 points, or 1.06 per cent, to 11,560.95.

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