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As part of the RBI’s ‘Reconstruction Scheme 2020’, a consortium of eight banks led by government-owned lender State Bank of India (SBI) executed equity commitments in the bank. SBI initially bought shares worth Rs 6,050 crore for a 48% stake in Yes Bank at a consideration of Rs 10 per share

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The most important single factor impacting equity markets now, globally, is the high inflation in the developed world, particularly the US, and the hawkish monetary response from the Fed.

Bernstein said that the operating environment for Indian banks remains the best in a decade, maintaining its bullish view on the sector. The brokerage sees HDFC Bank, Axis Bank and SBI to outperform, while it expects Kotak Mahindra Bank and ICICI Bank to perform in line with the market.

Concerns over the exposure of Adani Group companies to the banking sector slightly receded last week on the back of the Rs 15,446-crore, or $1.87-billion, fundraising exercise to US-based investment firm GQG Partners.

The National Stock Exchange (NSE) and BSE on Monday announced that Adani Enterprises will move out from the short-term additional surveillance measure (ASM) framework. The move comes into effect from March 8, according to the circular available with the exchanges.

The Ministry of Road and Transport has identified a list of projects aggregating to 1,750 km to be monetized through ToT and InVIT in FY23. India’s National Highways Infra Trust (NHAI InVIT) is planning to raise Rs 75-80 b by monetizing the next tranche of six road assets by March 2023.

NSDL data shows that the worst sell-off was in the oil and gas sector, with a net outflow of Rs 4,973 crore, followed by power (Rs 2,848 crore) and metals (Rs 2,642 crore).​

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Investors are anxious about most of this. Forward implied volatility is back in the low 30s for the consumer-price-index day and nearing 40 for Fed rate-decision day later, meaning traders are betting on some big swings, data compiled by Citigroup show. However, a forward implied volatility reading of 26 on jobs data day indicates the market is underpricing that risk, according to Stuart Kaiser, Citigroup’s head of US equity trading strategy.