Facing trouble, Indian public sector banks need leaders but are headless India’s government-owned banks are becoming increasingly rudderless, just when they most need a firm hand at the top. Four of the country’s 21 state banks have yet to appoint replacements for departed chief executive officers, and another has seen its CEO stripped of her powers due to fraud charges. Over the coming months, nine more of the lenders are due to lose their top executives, at a time when spiraling bad loans and an intensified crackdown on financial sector-corruption make the jobs less appealing than ever. READ MORE Market Check S&P BSE Sensex 35,561.56 1.09% Nifty 50 10,797.05 1.05% S&P BSE 200 4,670.60 1.12% Nifty 500 9,313.20 1.17% S&P BSE Mid-Cap 15,938.61 1.30% S&P BSE Small-Cap 16,778.43 1.89% ELSS: Smart way to save tax; here's how to pick a top performing one Tax planning forms an indispensable part of one’s financial plans. Under Section 80C of the Income Tax Act 1961, you can claim deductions of upto Rs 1.5L and reduce your tax liability. So, to save on taxes, you just need to invest your money in investments eligible under 80C. Equity Linked Savings Scheme (ELSS) is eligible under section 80C. Out of all these investments, ELSS tends to be the most popular and most efficient tax-saving instrument. READ MORE Analysts give thumbs-down to Rs 70 billion sugar bailout package Markets have given a thumbs-down to the government’s Rs 70 billion intervention package (including Rs 4,440 crore in loans to mills to expand ethanol production) for the sugar industry to address the immediate liquidity problems of the industry. Most stocks, such as Dwarikesh Sugar, Dhampur Sugar, EID Parry, Kesar Enterprises and Thiru Aroon Sugar are trading lower in the range of 1 per cent to 5 per cent on the BSE on Thursday – extending their Wednesday’s fall of 3 per cent to 12 per cent. In comparison, the S&P BSE Sensex has gained around two per cent during this period READ MORE Volume gains to offset margin pressures for Maruti Suzuki The Maruti Suzuki stock has gained about four per cent over the last week on strong sales in May, the expectation of higher growth for FY19 and plans to launch electric vehicles by 2020. While there are headwinds such as the higher raw material costs and weak rupee which makes imports costlier, analysts believe that these will be offset by the operating leverage (higher volumes), reduction in discounts as demand in the sector improves, as well as richer product mix. READ MORE Prabhudas Lilladher on Tata Motors We welcome the increased disclosures and disinvestments from loss-making/non-core subsidiaries. Management's focus on improving the performance of the standalone entity is now clearly visible and we expect it to continue. The near-term outlook for JLR, however, remains muted both for volumes and profitability, EBIT margin target of ~7-9% (earlier 8-10%) mainly due to accelerated product development expenses. With JLR's full product range available in EV/Hybrid variants from 2020 gives us further confidence. Given the attractive valuations and buoyant management guidance, we maintain "BUY" with a target price of Rs378, where we value JLR at 2.75x Mar'20E EV/EBITDA and Standalone entity at 10x Mar'20 EPS