The State Bank of India has acquired a 6.35% stake in Canpac Trends Pvt. by mopping up 3.7 lakh shares for Rs 1,349 apiece. The investment is being made by the public sector bank with the objective of capital appreciation, according to its exchange filing issued on Thursday. Canpac Trends, incorporated in 2004, is a … Read more
Artificial Intelligence (AI) will be a very strong force for cultural assimilation and the country should build it with Indian data for common man’s daily use, Ola founder Bhavish Aggarwal said on Saturday. Speaking at the 12th edition of INSIGHT: The DNA of Success, held at the Isha Foundation here, Aggarwal, stressed upon the pivotal … Read more
Here are the top stocks that could be in focus in today’s trade: State Bank of India: India’s largest commercial bank, SBI reported an 8% year-on-year jump in the net profit as it grew from ₹13,264.5 crore in Q2FY23 to ₹14,330 crore in the quarter under review. The net interest income (NII) of the State … Read more
Banks are striving to become more digitally advanced by revamping their systems – right from the core to the front-end – using AI and other tech. Banks and financial institutions must promote research on the use of artificial intelligence to ease their workload, an official from India’s largest lender said, as automation evolves from handling … Read more
In the first quarter of the 2023-24 fiscal year (Q1FY24), State Bank of India (SBI) achieved a notable milestone by surpassing Reliance Industries (RIL) in terms of quarterly net profit. SBI reported a quarterly net profit of Rs 18,537 crore, outpacing RIL’s quarterly net profit of Rs 16,011 crore. This marks only the second instance … Read more