Banks Stocks
Bank stocks to consolidate till margins start improving, says InCred Equities; recommends HDFC, ICICI Bank, SBI
The banks delivered 13% year-on-year (YoY) earnings growth during the quarter ended December, led by 11% YoY Net Interest Income (NII) growth and around 45% YoY decline in provisions.
2 min read20 Feb 2024BFSI Q3 review: Large private banks better placed than others, says Anand Rathi; prefers ICICI Bank, SBI among others
Anand Rathi believes that large-cap private banks have a better risk-reward than others in BFSI, as the government loosens its purse strings, improving the banking liquidity coupled with the robust underlying credit demand.
5 min read13 Feb 2024Nifty 50 extends slide for 3rd straight day, dips below 21,300 level for first time in CY24
The Nifty 50 witnessed a morning trade dip of 286 points, pushing the index to trade below the 21,300 level for the first time in CY24. The S&P BSE Sensex plummeted by another 834 points in today's early morning trade, falling below 71,000 level, reaching 70,665 points.
2 min read18 Jan 2024Dalal Street bleeds: Mcap of these 5 private sector banks declines by ₹1.44 lakh crore in a day; HDFC Bank worst hit
Leading this downward trend was HDFC Bank, the country's largest private sector bank, with its shares plummeting by 8.44% to ₹1,537.50 apiece in today's trade. This marks the most significant intraday drop since 2020.
3 min read17 Jan 2024Massive Selloff: Financial Services index decline 3% as HDFC Bank Q3 disappoints
Banking and financial stocks bled out on Wednesday with both the Nifty Bank index and the Nifty Financial Services index down over 2.5 percent each post HDFC Bank December quarter results, announced yesterday.
2 min read17 Jan 2024Q3 Earnings: PL overweight on banks, underweight on metals; lists Astral, Safari among high conviction picks
The brokerage has increased its weight and remains ‘overweight' on Banks, Cap Goods and Healthcare, and diversified financials (led by HDFC AMC). It is ‘equal weight' on IT and ‘underweight' on Auto, Metals, Cement, Consumer and Oil & Gas.
4 min read15 Jan 2024Porinju Veliyath praises RBI, Shaktikanta Das on X as asset quality of banks improves in H1FY24
After the Reserve Bank of India announced that the asset quality of banks has shown significant improvement in the first half of FY24, market expert Porinju Veliyath took to X (formerly Twitter) to praise the central bank on achieving this extraordinary feat.
2 min read29 Dec 2023Unclaimed deposits with banks soar to ₹42,270 crore, up 28% shows Parliament data
Compared to the preceding financial year of FY22, where the unclaimed deposits with both public and private sector banks stood at ₹32,934 crore, the current figure represents a noteworthy increase to ₹42,272 crore by the end of March 2023, marking a 28 percent rise.
2 min read20 Dec 2023Banking sector Q2 results: Healthy earnings print with slowing momentum; asset quality continues to improve
While loan growth during Q2FY24 was comfortable at around 15% YoY for banks, net interest margin (NIM) declined for most led by re-pricing of cost of deposits and bank loans. Asset quality improved sequentially for public and private banks.
3 min read15 Nov 2023Profit of Indian public sector banks jumps 31% to ₹33,643 crore in Q2; PNB tops list
12 Indian public sector banks recorded a combined net profit of ₹33,643 crore in Q2FY24, a 31% increase from the same period last year.
4 min read6 Nov 2023