ICICI BANK Q2 PROVISIONS
How to download Form 16A from the TRACES website, SBI, HDFC Bank, ICICI Bank
How to download Form 16A: When non-salary payments like TDS professional fees, rent, and bank interest are made, the deductor provides a "TDS Certificate" to the IT Department. Here is how to download Form 16A TRACES website, SBI, HDFC Bank, ICICI Bank
JPMorgan Q2 Results: Profit jumps 25% to record, fuelled by investment banking
A surge in debt and equity offerings, alongside increased takeover deals, fueled by growing confidence in the U.S. economy, has significantly boosted Wall Street banks' income. Investment banking revenue alone jumped 46% to $2.5 billion, surpassing earlier forecasts.
TCS Q1 beat fuels market rally, lifts Sensex, Nifty and m-cap to new records
The market capitalization of all BSE-listed companies reached a record high, increasing by Rs 1.18 lakh crore to Rs 452.36 lakh crore. TCS, India's leading IT services company, saw a 6.7% rise after surpassing revenue expectations. This surge contributed to a 4.25% increase in the US rate-sensitive IT index.
Hot stocks: Brokerage view on RIL, M&M, ICICI Bank, Ambuja Cements and IndiGo
Jefferies reaffirmed a 'buy' rating on RIL (Reliance Industries Limited) with a target price of Rs 3,580. They foresee the possibility of Jio, RIL's subsidiary, going public in calendar year 2025. According to Jefferies, choosing the IPO route could offer better control, although it would require significant retail participation to overcome the holdco discount.
ICICI Bank, SBI among Nomura’s 4 preferred banking stocks ahead of Q1 results
Global brokerage firm Nomura predicts significant growth disparities in the banking sector, favoring ICICI Bank, SBI, Kotak Mahindra Bank, and Federal Bank.
Banks may not do well in Q1 and even Q2; be selective in consumer bucket: Dipan Mehta
The banking sector may see disappointing earnings due to challenges in net interest margins and rising provisions, says Dipan Mehta, Director, Elixir Equities. FMCG and traditional consumption stocks are under pressure, while airline companies like IndiGo show positive long-term prospects. Electric two-wheelers, particularly from Ola Electric, are expected to disrupt the industry.
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Q1 result season begins: 30 companies may report over 100% growth in profit
Nifty may report 4% Q1 earnings growth driven by BFSI, auto, metals, healthcare, and real estate, with Trent and Zomato showing significant consumption sector growth. Pharmaceuticals Glenmark Pharma and Laurus Labs have high growth, private and PSU banks lower. Motilal Oswal and Kotak predict 30 companies may report over 100% profit growth.
Q1 Earnings Preview: Flat to 4% growth in net profit expected from Nifty pack; auto, financials, health to outperform
Motilal Oswal and Kotak Mahindra differ in their Q2 earnings projections for the Nifty universe. While Kotak forecasts a nearly flat growth of 0.6%, Motilal Oswal projects a 4% increase in net profits. Both firms predict stronger growth when excluding global commodities. Motilal Oswal anticipates a 10% YoY increase for the Nifty excluding oil & gas and metals, while Kotak forecasts a 9.3% rise excluding oil marketing companies.
Results play! Earnings growth to moderate for banks in Q1. Which stocks to buy?
Indian banks are forecasted to experience softer growth in the June quarter, with 14-16% earnings growth YoY. Motilal Oswal predicts NII growth for HDFC Bank by 28%, ICICI Bank by 7%, and Kotak by 15%. Axis Securities sees public sector lenders growing 11% YoY. Asset quality remains steady.
IndusInd Bank Q1 Update: Net advances jump 16% YoY to Rs 3,48,107 crore; deposits rise 15%
IndusInd Bank's net advances rose Rs 3,48,107 crore in Q2 FY24, marking a 16% increase from Rs 3,01,317 crore in the same quarter last year. Deposits rose 15% year-on-year to Rs 3,98,632 crore from Rs 3,47,347 crore.
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.
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.
Banks report higher NPA provisioning in Q4
For the 12 public sector banks (PSBs) in the sample, the aggregate provisioning for non-performing assets (NPA) fell by a tad 0.7% year-on-year to Rs 15,157.8 crore.
Paytm shares rally 5% despite widening net loss in Q4
Despite widened net loss and a revenue drop in Q4, Paytm's shares closed near a 5% upper circuit. Impact of disruptions from UPI transition and Paytm Payments Bank embargo cited. Impairment provision of Rs 227 crore for investment in PPBL recorded.
Chandra Shekhar Ghosh explains Bandhan Bank’s extra provisioning, opex issues and sees credit cost @1.5-1.8% next FY
Chandra Shekhar Ghosh, MD & CEO of Bandhan Bank, discusses the bank's expansion with 300 new branches and recruitment of 2,000 people. He covers topics such as slippage reduction, DPD improvement, collection efficiency, provisioning reasons, net profit dip, operating expenses, credit guarantee fund, net interest margins, asset quality, deposit rate impact, portfolio quality, and credit cost guidance.
Bandhan Bank Q4 Results: Net profit slumps 93% YoY to Rs 55 crore
Sharply higher provisioning dragged Bandhan Bank's March quarter net profit down by 93% at Rs 55 crore against Rs 808 crore in the year-ago period.
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.
Karur Vysya Bank Q4 Results: Net profit jumps 35% YoY to Rs 456 crore
The bank's net interest income for the quarter improved 11.5% to Rs 996 crore while other income was 57% higher at Rs 629 crore. The net interest margin for the quarter, however, was at 4.19%, down 18 basis points from 4.37% a year ago.
Punjab & Sind Bank Q4 Results: Net profit slumps 70% YoY to Rs 139 crore
The total income increased to Rs 2,894 crore during the quarter under review against Rs 2,652 crore in the same period last year, Punjab & Sind Bank said in a regulatory filing.
Go First exposure, pension provisions restrict Bank of Baroda Q4 net growth to 2 pc
Without naming Go First, its Chief Executive and Managing Director Debadatta Chand said the bank recognised an aviation account with a Rs 1,700-crore exposure as a non-performing asset during the quarter, and also decided to provide for it fully within a single quarter leading to a huge jump in provisioning for NPAs to Rs 1,485 crore from the Rs 320 crore in the year-ago period.
Bank of India Q4 Results: Net profit rises 7% YoY to Rs 1,439 crore
State-owned Bank of India (BoI) on Friday posted a 7 per cent rise in net profit at Rs 1,439 crore for the March quarter. The bank had earned a net profit of Rs 1,350 crore in the same quarter a year ago
Capital Small Finance Bank Q4 Results: Lender reports net profit at Rs 28.2 crore
Capital Small Finance Bank on Thursday reported Rs 28.2 crore net profit for the March quarter against Rs 24.3 crore in the year-ago period, riding on lower provisions and contingencies.
ESAF Small Finance Bank Q4 Results: Profit slips 57% to Rs 43 crore
ESAF Small Finance Bank on Thursday reported 57 per cent decline in net profit at Rs 43.4 crore for the fourth quarter ended March 2024 on account higher provisions. The Kerala-based bank had posted a net profit of Rs 101.4 crore for the year-ago period.
Canara Bank Q4 results: Net profit up 18% on retail growth, fall in provisions
CEO K Satyanarayana Raju said the bank expects to deliver 11-12% loan growth in the current fiscal year despite conscious efforts to shed low-yielding corporate loans.
Esaf Small Finance Bank Q4 Results: Net profit plunges 57% YoY to Rs 43 crore
The bank's operating profit was 30% higher at Rs 285 crore against Rs 219 crore but provisions and contingencies at Rs 226 crore against Rs 82 crore pulled the net profit down.
Canara Bank Q4 Results: Profit jumps 18% YoY to Rs 3,757 crore; NII rises 11%
Canara Bank Q4 Results: The company's Board has also recommended a dividend of Rs 16.10 per share, 161% of face value each, for the financial year 2023-24
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.
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