ICICI BANK LTD Q1 RESULTS
Gold’s 13% uptick beats Nifty's H1CY24 gains. Who could hold the edge in second half?
HDFC Bank's shares surged approximately 3% to reach a new 52-week high on Wednesday. Investors reacted positively to news suggesting a potential increase in the bank's weightage in the MSCI Emerging Markets index. Doubling lenders' weightage in the global index can attract FII flows, ranging from $3.2 bn to $4 bn.
Q-comm audits; modest Q1 for IT firms
Happy Wednesday! Due to recent hygiene lapses by quick commerce, the government has intensified surprise inspections of their warehouses. This and more in today’s ETtech Morning Dispatch.
Indian software sector earnings will remain modest in Q1: here’s why
Infosys and LTIMindtree are expected to lead a modest increase in average growth for Indian software service providers in the first quarter of FY25. However, previous top performers, Tata Consultancy Services (TCS) and HCLTech, may see pressure on profits and margins as they work to reignite growth.
YES Bank Q1 Update: Advances rise 15% YoY to Rs 2.29 lakh cr, deposits grow 21%
The bank's credit-to-deposit ratio for the first quarter was 86.4%, down from 91.3% in the same quarter last year. During the April-June 2024 period, the liquidity coverage ratio improved to 137.8%.
Q4 results: Stable costs boost India Inc. profits
Steady costs and firm domestic demand supported corporate performance in the March quarter.
Paytm Bank slows down in Fastag lane; q-comm in soup over food safety
Happy Friday! Banks are gaining ground in the toll payments space as Paytm Payments Bank’s market share continues to plummet. This and more in today’s Morning Dispatch.
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HUL, Dabur among 25 stocks in JP Morgan’s ‘overweight’ India portfolio after election results
JP Morgan categorized 25 stocks as 'overweight' post the Lok Sabha election results. It recommend positioning for potential spot-up and volatility-down scenarios
United Spirits shares rally 3% after Q4 results. Should you buy, sell or hold?
United Spirits (USL) shares experienced a 3% surge on the BSE. This increase came after the company announced a significant rise in consolidated net profit, which doubled to Rs 241 crore for the March quarter.
Torrent Pharma, Glenmark Pharma shares jump up to 9% after Q4 results
Shares of Torrent Pharma and Glenmark Pharma surged post Q4 results. Torrent Pharma's net profit jumped 56% YoY while Glenmark Pharma reported increased losses. Motilal Oswal provides target prices for both companies.
Suzlon Energy shares under pressure post Q4 results; brokerages raise target price to Rs 54
Suzlon Energy shares dipped 2% to Rs 45 after a 21% decline in Q4 net profit to Rs 254 crore. The consolidated net profit for 2023-24 fell to Rs 660 crore while total income rose to Rs 2,207.43 crore. Analysts from ICICI Securities and JM Financial are bullish on the stock.
Nykaa shares rally 3% after Q4 results. What brokerages recommend you should do
The company also posted a 28% year-on-year (YoY) increase in operating revenue for the March quarter to Rs 1,667 crore led by a 24% increase in the core business, beauty and personal care (BPC), to Rs 1,388 crore during the quarter.
GRSE shares surge 20% after posting doubling Q4 profit but ICICI Securities screams sell
Shares of PSU defense company Garden Reach Shipbuilders (GRSE) experienced a significant surge of 20% on the BSE on Thursday, reaching a new all-time high of Rs 1,424.80. This surge followed the company's announcement of a remarkable 104% year-on-year (YoY) increase in its net profit to Rs 112 crore.
Paytm Q4 Results: Loss widens to Rs 550 crore; revenue drops 3% YoY
Paytm Q4 Results: The fintech major's March quarter results were impacted by temporary disruptions on account of the UPI transition and permanent disruption because of the payments bank embargo. The company said Payment Bank's products like Paytm wallet and FASTag were distributed but due to the current embargo, it anticipates a steady state of an annualised direct impact on EBITDA to be around Rs 500 crore.
Bandhan Bank Q4 Results: Lender posts PAT at Rs 55 crore on higher provisions; NII at Rs 5,189 crore
The fall in profit after tax (PAT) could be attributed to higher provisions reported in Q4FY24 at Rs 1,774 crore compared to Rs 735 crore in Q4 FY23.
M&M Q4 Preview: Volume to drive 7% YoY revenue growth but tractor sales may disappoint
Three brokerage firms anticipate the auto giant's net profit to fall within the range of Rs 1,777 crore to Rs 2,079 crore. Revenue from operations is projected to reach Rs 24,051 crore. In the corresponding period last year, M&M disclosed a standalone PAT of Rs 1,549 crore and revenue of Rs 22,571 crore.
SBI, Godrej Consumer top buys post Q4 results; could give 13-17% upside in 1 year
SBI and Godrej Consumer are top buys post Q4 results, led by BFSI and Auto sectors. Nifty stocks show growth, while Tier-1 IT companies face challenges. Business and credit growth outlook positive for SBI.
Varun Beverages shares surge over 5% post Q1 results. Should you buy, sell or hold?
Varun Beverages' (VBL) shares surged 5.5% on BSE, hitting Rs 1,558.45, following a 25% YoY increase in March quarter PAT to Rs 548 crore. Q1 revenue reached Rs 4,398 crore.
Dr Lal PathLabs shares zoom 8% after Q4 results. Should you buy or sell?
Dr Lal PathLabs saw an 8% surge in shares to Rs 2,539.65 on the BSE following a 51% YoY increase in net profit to Rs 86 crore for Q4FY24. Analysts have varying opinions, with Kotak and JM Financial maintaining positive outlooks, while Goldman Sachs remains cautious.
SBI share price can surge up to Rs 1,000, say bulls after Q4 results
SBI Share Price: SBI's robust Q4 earnings, with a net profit of Rs 20,698 crore, garnered bullish sentiments from various brokerages. Nomura, JP Morgan, Nuvama, KIE, Motilal Oswal, and Emkay Global maintain buy ratings with target prices ranging from Rs 820 to Rs 1,000, anticipating sustained growth and favorable prospects.
IDBI Bank Q4 Results: PAT soars 44% YoY to 1,628 crore; NII rises 12%
IDBI Bank's gross NPA ratio improved to 4.53% as against 6.38% YoY while net NPA ratio also improved to 0.34% vs 0.92% YoY..The lender has announced a dividend of Rs 1.50 per share which will be will be paid on approval by shareholders at the ensuing Annual General Meeting (AGM) of the bank.
ICICI Bank beats estimates to post 17% rise in Q4 profit
ICICI Bank excelled in Q4 with a 17% net profit increase, reaching ₹10,707.5 crore. Fiscal 2024 witnessed a 28% rise to ₹40,888 crore. The bank prioritizes technology, economic growth, and regulatory compliance for future success.
ICICI Bank shares breach Rs 8 lakh crore market cap, propel Nifty Bank to fresh lifetime high
ICICI Bank, India's second-largest private lender, saw its market capitalization (m-cap) exceed the 8 lakh crore mark as its shares surged to a new 52-week high. The buying action also propelled Nifty Bank to a new record high.
ICICI Bank shares target price rise up to Rs 1,450 on steady Q4 results. Should you buy?
The private sector lender reported a healthy performance in Q4, with 17% year-on-year (YoY) growth in profit amid contained opex and provisions. The pace of NIM contraction decelerated, down 3 bps quarter-on-quarter (QoQ) at 4.4%.
ICICI Bank declares Rs 10/share dividend
India's second largest private lender ICICI Bank today reported a standalone net profit of Rs 10 707.53 crore for the quarter ended March 31, 2024 which was up by 17.38% from Rs 9121.87 crore reported in the year ago period.
ICICI Q4 results: Net profit jumps 17% YoY to Rs 10,708 cr; announces dividend of Rs 10/sh
ICICI Bank Q4 Result: India's second-largest private lender, disclosed a standalone net profit of Rs 10,707.53 crore for the quarter ending March 31, 2024. This marks a notable increase of 17.38% compared to Rs 9,121.87 crore reported in the corresponding period last year. Furthermore, ICICI Bank recorded an interest income of Rs 37,948.36 crore during the quarter, reflecting a robust growth of 22.33% from Rs 31,021.13 crore reported in the same period last year.
ICICI Bank Q4 Earnings Today: PAT likely to rise nearly 18% YoY, NII growth seen at 4-8%
ICICI Bank Q4 Earnings Today: The March quarter is expected to witness a year-on-year (YoY) increase in net profit of up to 18%, as projected by an average estimate from four brokerages. However, it's anticipated that the top line, specifically the net interest income growth, may not keep pace with the bottom line.
Q4 results this week: RIL, ICICI Bank, HCL Tech, among 166 companies that'll announce earnings
With Wipro and Infosys’ results out this week, the fourth quarter earnings season will now pick up pace as the upcoming week will witness the results for Axis Bank, ICICI Prudential Life Insurance, Mahindra & Mahindra Financial Services, Tata Elxsi, along with 167 other companies.
Bank of America Q1 Results: Profits fall 18% on higher expenses, charge-offs
Bank of America's first-quarter profits decreased due to higher expenses related to rising interest rates, surpassing expectations. The bank made a $700 million payment to the FDIC to support the deposit insurance fund, impacting its earnings.
Q4 results this week: HDFC Bank, Infosys, Wipro among 61 companies that'll announce earnings
Q4 results: Apart from the IT majors Wipro and Infosys, leading financial companies HDFC Bank and Jio Financial will also report their quarterly earnings during the week.
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