The lender’s total capital adequacy ratio (CAR) as per Basel III guidelines was at 18.5% as on December 31, 2019 and 17.3% as on December 31, 2018 against a regulatory requirement of 11.075%, which includes a capital conservation buffer of 1.875%, and an additional requirement of 0.2% due to the bank being identified as a Domestic Systemically Important Bank (D-SIB). … [Read more...] about HDFC Bank Q3 net profit rises 33% to ₹7,417 crore
NEW DELHI: Brokerages were largely positive on HDFC Bank post its December quarter results, even as concerns remained over slowdown in the retail segment growth and fresh slippages. Edelweiss Securities introduced FY22 estimates and roll forward valuations by one quarter, leading to revised target price of Rs 1,520 from earlier Rs 1,456. “HDFC Bank’s Q3FY20 earnings beat estimates with a 33 per cent YoY PAT growth and 20 per cent operating profit spurt, led primarily by non-interest income. Also, loan growth settled higher at 20 per cent aided by corporate segment, and NIMs remained steady,” it said. The bank on Saturday reported a 32.77 per cent year-on-year (YoY) rise in net profit at Rs 7,416.48 crore for the quarter ended December 2019. It had posted a net profit of Rs 5,585.85 crore in the same period last year. “Retail momentum has slowed, pulling down core NII/PPOP growth to 13-14 per cent on YoY basis. However, we think HDFC Bank is managing the … [Read more...] about Brokerages bullish on HDFC Bank post Q3 results; stock flat
On the other hand, TCS was the top laggard, shedding over 1 %, after the country’s largest software exporter reported a flat December quarter net profit at ₹ 8,118 crore and also made it clear that it will not be able to notch a double-digit revenue growth in 2019-20. … [Read more...] about Market opens at record high; RIL, HDFC Bank top gainers
NEW DELHI: Nifty futures on the Singapore Exchange traded 20 points, or 0.13 per cent, higher at 12,402.50, indicating a positive start for Dalal Street. Here are a few stocks which may buzz the most in today’s trade: Kotak Mahindra Bank: The bank is likely to report 25-30 per cent surge in net profit and a solid 4.4-4.6 per net interest margin (NIM) in December quarter. Federal Bank, Bank of India, Just Dial: Hindustan Zinc, ICICI Securities, Federal Bank, Bank of India, Just Dial and Can Fin Homes will be other companies which will announce quarterly results today. HDFC Bank: The private lender on Saturday posted a 32.77 per cent year-on-year (YoY) rise in net profit at Rs 7,416.48 crore for the quarter ended December 2019. It had posted a net profit of Rs 5,585.85 crore in the same period last year. Analysts in an ETNow poll had projected net profit of Rs 7,070 crore. Reliance Industries: The company reported a 13.5 per cent rise in quarterly net profit, buoyed by … [Read more...] about Stocks in the news: RIL, HDFC Bank, Lupin, TCS, Kotak Bank, HCL Tech and Just Dial
By R Venkataraman The opening lines of A Tale of Two Cities is most apt to summarize the state of the Indian stock market and the economy: The stock market that trades at highs is having the best of times whereas the faltering economic growth is facing the worst of times. It is the epoch of belief that Indian economy will hit the $5 trillion GDP mark and how it will get there is the epoch of incredulity. It is also the season of hope that worst is behind us and season of darkness, especially on various fronts like employment. And so on. During my recent travels and meetings with different types of investors and corporates of all sizes, the common question was: “Why is the market going up when the economy is struggling?” And in spite of Sensex ruling above the 40,000 mark and Nifty above 12,000, no one seems to be happy. In the past, such psychological levels have been celebrated by releasing balloons from top of stock exchanges and TV anchors coming out in their creative … [Read more...] about Rising markets, falling economy: Which indicator will reverse first?