- Axis Bank reported 131 percent jump in its Q3FY19 net profit at Rs 1,681 crore, beating market estimates. The company had reported profit of Rs 726.44 crore in a year ago period. Net interest income (NII) was up 18 percent at Rs 5603.6 crore versus Rs 4,732 crore in Q3FY18. Gross NPA was down at 5.75% against 5.94%, while net NPA was down at 2.36% versus 2.54%,
- Country’s fourth largest HCL Technologies’ third quarter (October-December) profit grew by 2.8 percent sequentially to Rs 2,611 crore, beating analysts’ estimates. Revenue in rupee terms increased 5.6 percent quarter-on-quarter to Rs 15,699 crore in quarter ended December 2018.
- Housing Development Finance Corporation has reported a 14 percent sequential de growth in third quarter profit at Rs 2,114 crore and the same year-on-year basis fell 63 percent due to low base. Profit growth in September quarter 2018 and December quarter 2017 was driven by the sale of a stake in HDFC AMC and HDFC Life Insurance through IPO.
- Bajaj Finance’s third quarter (October-December) standalone profit increased sharply by 48 percent year-on-year to Rs 1,022.73 crore despite steep increase in provisions, driven by strong net interest income. Profit during the quarter ended December 2017 stood at Rs 691.76 crore.
- Mindtree and Coffee Day stock in focus as Income Tax department attached Siddhartha’s and Coffee Day’s shares, amounting to 4.5% of Mindtree , citing potential claims on an ongoing assessment
- Syndicate Bank determined the issue price of Rs37.75 per share in respect of preferential issue aggregating to Rs728cr to Promoter-Government of India. The bank says that at the determined issue price it can allot up to 43.2cr shares against a capital infusion of Rs 1,632cr. With these actions, Government of India’s stake in the bank will increase from 76.16% to 81.23%.
To Get Free Trial
Missed call @ 8817002233
Call Us @ 8602780449
Mail Us = email@example.com
Visit = https://www.starindiaresearch.com/freetrial