KOTAK BANK Q3
HDFC Bank shares fall 4% as Q1 update disappoints investors
HDFC Bank shares, previously rising due to potential MSCI weightage increase, fell over 4% on Friday to Rs 1,665.55 on BSE. This decline followed a sharp drop in CASA ratio in its June quarter update. Deposit growth was soft at 15.3% YoY (pro-forma), flat sequentially, with CASA declining 5% QoQ, lowering CASA ratio by 190 bps to 36%
MSMEs have growth opportunities, the challenge is in easing their access to credit: Manish Kothari, Kotak Mahindra Bank
The key pivot for Kotak Mahindra Bank’s MSME lending business has come through holistic banking relationships and out-of-the-box solutions, says Manish Kothari, Head, Commercial Banking, Kotak Mahindra Bank.
HDFC Bank Q1 Update: Advances soar 53% YoY to Rs 24.87 lakh cr; deposits jump 24%
Excluding the impact of the HDFC merger with the bank on July 1, 2023, the bank's gross advances grew by 15% compared to the same period last year. During the first quarter, retail loans increased by approximately Rs 18,600 crore, and commercial and rural banking loans grew by around Rs 7,200 crore. However, corporate and other wholesale loans decreased by Rs 26,600 crore compared to the preceding March quarter.
New credit card rules: HDFC Bank, Axis Bank, other banks customers cannot make credit card bill payments using PhonePe, Paytm
Credit card bill payment rules: As of July 1, customers with credit cards from major banks like HDFC Bank and Axis Bank will no longer be able to settle their credit card bills using third-party applications such as PhonePe, Amazon Pay, and Paytm.
5 stock market myths in a raging bull market: Kotak Equities
Despite the ongoing bullish trend on D-Street with frequent new highs, Kotak Institutional Equities has cautioned investors by debunking five prevalent market myths in a recent note. Among these myths are beliefs that Indian markets are currently trading at reasonable valuations and that robust GDP growth guarantees high returns.
PE investment in real estate hits $2.5 bn in Q2, a 3-year high
Institutional investments in India's real estate sector surged to a three-year high of $2.5 billion in the June quarter, primarily driven by robust activity in the industrial and warehousing, and residential segments, according to Colliers. The industrial and warehousing segment attracted the majority of investments at $1.5 billion, marking an 11-fold increase from Q2 2023, while the residential segment also experienced significant growth. Conversely, investments in the office sector plummeted 83%. Foreign investors, particularly from the US and UAE, were prominent contributors in the market, indicating a positive outlook for the industry.
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Federal Bank leads in loan expansion among Kerala banks in Q1
Federal Bank reported a 20% year-on-year rise in gross loan portfolio to Rs 2.24 lakh crore at the end of June. Fairfax-backed CSB Bank clocked a 17.8% rise in gross loans to Rs 25,099 crore while South India Bank's loan portfolio rose 11.4% to Rs 82,510 crore.
Stocks in news: YES Bank, DMart, Kotak Bank, Zomato, Hindustan Zinc
Indian markets corrected impacting shares of YES Bank, DMart, and Kotak Bank. Despite this, Zomato and Hindustan Zinc were affected, with DMart reporting increased revenue. Additionally, HDFC Bank's weight in the index may increase, as YES Bank reported growth in loans. Force Motors sales declined, KEC International secured new orders, and IEX saw an increase in electricity volume.
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%.
Kotak Bank shares fall 4% as its name crops up in Adani-Hindenburg saga
Hindenburg Research said Kotak Mahindra Bank setup an offshore fund structure to short Adani stocks, causing Kotak's shares to drop by up to 4% to a low of Rs 1,737 on the NSE. The investment firm also targeted Uday Kotak, the founder of the bank, who personally chaired Sebi's 2017 Committee on Corporate Governance.
U-Turn: Sensex, Nifty erase gains after hitting record highs
From the Sensex pack, Infosys, HCL Tech, TCS, and Bharti Airtel opened higher, while Tata Motors, Kotak Mahindra Bank, Bajaj Finance, and ICICI Bank opened in the red.Shares of Kotak Mahindra dropped 2% after US short-seller Hindenburg said that the lender created and oversaw a fund that Hindenburg investors used to short Adani stocks.
Credit Card issuance soars despite worries over unsecured loans
Credit card base in India grew 18% YoY to reach 103 million, with HDFC bank adding the most new cards. However, Kotak Mahindra bank saw a sharp drop amid RBI restrictions. Card spending also grew 17% YoY to reach Rs 1.65 trillion. The credit card industry has seen a continuous decline due to caution about large unsecured loans and asset quality issues.
IT stocks rally up to 4% as an early indicator of Q1 earnings just gave green signals
Indian IT stocks surged following positive results from Accenture, with Persistent Systems leading the gains. Analysts expect a strong demand environment to drive healthy earnings growth.
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.
3 stocks Viral Shah is bullish on from NBFC sector
I think a lot of analysts and investors have kind of built this in in their numbers and the impact is going to be actually gradual. Given that these are two-three years fixed rate loans, so the impact is always on an incremental basis. So, it will take two to three years for it to play out fully in terms of the financials. And the quantum of it also would vary. If it is a 50 or 100 base points kind of a rate cut, in the kind of the construct of the ROAs that MFIs make, it should be easily digestible.
Stage set for Modi 3.0; which sectors are likely to see growth?
With BJP bagging 240 seats and NDA 291, a much less than expected results in the polls, investors will be looking forward to reviewing their portfolio, prompting predictions on policy recalibration by experts.
Nifty Bank index roars back to record biggest daily gain in 3 years
Banking stocks stage a significant rebound, recording the largest gains in over three years, led by HDFC Bank, Bandhan Bank, and IndusInd Bank. Market confidence rises amid support for the BJP from allies and short covering.
InterGlobe Aviation shares rally 3% after doubling Q4 profit. Brokerages increase target price up to Rs 5,192
InterGlobe Aviation, the parent company of IndiGo Airlines, witnessed a significant uptick in its stock price on Friday, with shares climbing almost 3% on the BSE to reach a new 52-week high of Rs 4,520. This surge followed a more than doubling of the company's Profit After Tax (PAT) to Rs 1,895 crore in the fourth quarter.
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.
ITC Q4 Preview: Revenue to grow around 3% YoY; margins to contract
Brokerage firms expect that ITC will announce subdued revenue growth for the fourth quarter when it declares its results on May 23. Based on projections from different brokerages, it's anticipated that profits will see a modest 3% year-on-year increase, with the hotels segment expected to perform strongly. In the previous December quarter, ITC recorded a 6% rise in consolidated net profit, amounting to Rs 5,335 crore.
Vodafone Idea shares surge 4% despite losses widening in Q4
The company’s cons loss widened to Rs 7,675 crore versus Rs 6,419 crore reported in the year-ago period. Its revenue stood at Rs 10,607 crore. An income tax refund helped Vi generate operating cash flow of Rs 12,100 crore.
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.
Asian Paints shares gain 3% after Q4 results. Should you buy, sell or hold?
Asian Paints Share Price: Asian Paints shares rose 3% to Rs 2,792 despite Q4 results missing estimates, with a 2% YoY increase in net profit to Rs 1,257 crore. Brokerages maintain a 'sell' view due to anticipated decline.
SBI Q4 Preview: Profit may fall 24% YoY; NII seen flat
Analysts anticipate a relatively stable net interest income (NII) growth or potentially a slight decrease of up to 1% year-on-year, attributed to increased operating expenses and normalization of net interest margins (NIM).
Kotak Bank shares jump 4% as Q4 beat makes investors overlook angry RBI to upgrade stock
Kotak Bank Share Price: Kotak reported 18.22% year-on-year (YoY) increase in its standalone profit for the quarter ended March 2024 to Rs 4,133.30 crore while its net interest income (NII) in Q4 rose 13% YoY to Rs 6,909 crore.
Kotak Mahindra Bank net up 18% in Q4
Kotak Mahindra Bank is stepping up efforts and investments to resolve technology concerns raised by the banking regulator and regain approval to resume normal operations, said Ashok Vaswani, managing director and chief executive officer, on Saturday.
Kotak Mahindra Bank Q4 Results: PAT jumps 18% YoY to Rs 4,133 crore, beats estimates
Kotak Mahindra Bank Q4 Results: Net interest income in Q4 rose 13% YoY to Rs 6,909 crore. The bank's board announced a dividend of Rs 2 per share. Its advances increased 20% YoY to Rs 391,729 crore as of March-end while customer assets, which comprises advances and credit substitutes, increased 20% YoY to Rs 423,324 crore.
Q4 Results Today: DMart, Kotak Mahindra Bank among 16 companies to announce earnings
Other companies which will also release the numbers include The Anup Engineering, Birla Corp, Golkonda Aluminium, Hitch Energy Batteries, IDBI Bank, Jammu and Kashmir Bank, Kansai Nerolac Paints, Nagarjuna Fertilisers, Nila Infrastructure, Raw Edge, Sambhav Media, Vijay Textiles and Zen Technologies.
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