HDFC Bank Q4 review: HDFC Bank's January-March quarter (Q4) results, for financial year 2022-23 (FY23), brought no cheer to investors as elevated costs, and merger-related uncertainties continue to dent the sentiment. Moreover, analysts fear that merger-related costs may put pressure on margins and cost to income ratio in the near-term, while the return on equity could moderate owing to low leverage of the parent. Analysts, therefore, opine that the stock's re-rating may be some time away. "While the risk of a de-rating on a standalone basis appears to be quite low given that the business performance is holding up well, we believe a re-rating in the stock would happen as and when more clarity emerges on the smooth transition (merger)," said a report by Sharekhan.
Street gave a thumbs down to Aditya Birla Fashion and Retail (ABFRL)-TCNS Clothing deal as analysts flagged near-term profitability risks for ABFRL with its latest acquisition. At the bourses, shares of the Aditya Birla group company tumbled 6.2 per cent in the intra-day trade, before settling 3.27 per cent lower at R 207.2. Those of TCNS, meanwhile, plunged 20 per cent to end at Rs 416.64.
The fracas between Chief Minister Edappadi K Palaniswami and his deputy O Panneerselvam on Monday over who will be projected as the CM candidate in next year's assembly polls not only points to a possibility of another vertical split in Tamil Nadu's ruling party but will also come as sweet music for the opposition DMK which in the past stood to gain from the AIADMK's squabbles, says N Sathiya Moorthy.
The impact of the banking crisis in the US was visible in IT bellwether Tata Consultancy Services' (TCS) weak performance in the March quarter of fiscal 2023 (Q4FY23). The firm witnessed slower revenue growth in Q4FY23 and failed to meet its FY23 exit Ebit margin of 25 per cent as some clients, especially in the North American region, took to pausing projects and rising onsite costs offset utilisation gains. Sequentially, the company's revenue grew by just 0.6 per cent on a constant currency basis, which was one of the slowest paces in over 11 quarters.
An adverse judgement could have triggered a political realignment in Tamil Nadu and brought the ruling party perilously close to losing its majority in the state assembly whose effective strength is 232. Two seats are vacant.
Part of the dues has been pending since 1995-96 - the inception year of the Employees' Pension Scheme administered by the EPFO. The Centre also owes the EPFO more than Rs 1,000 crore towards the minimum pension scheme it had notified in September 2014.
IT company Wipro on Friday posted a 4 per cent rise in consolidated profit at Rs 3,092.5 crore in the fourth quarter ended March 2022. The company had registered a profit of Rs 2,974.1 crore in the same period a year ago. "We have had an outstanding year, finishing with USD 10.4 billion in revenues, and an industry-leading growth of 27 per cent Year-on-Year (Y-o-Y).
In signs of thaw on All India Anna Dravida Munnetra Kazhagam merger move, the factions led by Tamil Nadu Chief Minister K Palaniswami and the one by O Panneerselvam on Friday announced formation of their respective committees to hold discussions.
Smaller stocks continue to shine at the bourses. The BSE MidCap index is up 18 per cent since the beginning of January this year against a 5 per cent rise in the Sensex during the period. With the current rally, the mid-cap index has doubled in value since the end of March 2020 against a 70 per cent rally in the Sensex during the period. On Tuesday, the mid-cap index closed at 21,232, as compared to 17,941 at the end of December 2020. In the same period, the benchmark index moved from 47,751 to 50,193.
The DMK leadership may now have to deal with a demand for more seats from its Congress ally in the Lok Sabha polls, predicts N Sathiya Moorthy.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
'OPS did not back off.' 'He wanted transparency and he got it.'
'Periods of high volatility are usually bad for mid-caps and this is something that has to be kept in mind.' 'Focus on quality is of paramount importance.'
"The 750-bed modern facility will be set up at Thoppur near Madurai at an estimated cost of Rs 1,500 crore," Palaniswami said.
Party sources indicated that there were "some ticklish issues" that were to be addressed by both groups, but declined to elaborate further.
This time round, even 'petrol coupons' were reportedly distributed for those attending campaign rallies, especially those addressed by top leaders, cutting across party lines. If this owed to the rising cost of petrol and diesel -- which is a poll issue this time -- there were the customary coupons for 'quarter' (liquor bottle size) and non-vegetarian biryani. Some media reports claimed that some of these 'crowds' attended more than one political rally on the same day in the last week, and at times for rival political parties in adjoining constituencies or districts, says N Sathiya Moorthy.
While reasonable safeguards should be built in, there can't be restrictions on the individual's right to leave her/his money to whoever s/he wants, notes Harsh Roongta.
Vellore is one of the two seats that the DMK alliance won by the narrowest of margins in 2019. For the DMK's vote-score to be so low in a constituency with a substantial Muslim population has not missed the BJP strategists' eyes, observes N Sathiya Moorthy.
Shares of HCL Tech hit a fresh record high of Rs 1,118.55 on Friday, up 2 per cent on the BSE in intra-day trade, surpassing its previous high of Rs 1,101 touched on Thursday in intra-day deals.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
At an Onam celebration that took place recently at the Indian consulate in Dubai, Muraleedharan said nobody knows how legendary king Mahabali got linked with the celebrations.
While Aditi will be showcasing her acting in The Archies, she has also contributed music scores to the series.
Don't exit from growth-style funds as they may benefit next from a shift in investor preference.
Indian equity markets should be able to withstand inflation up to 8 per cent, said analysts at Credit Suisse Wealth Management in a recent note. Should the rate of inflation move higher than this, the valuation of Indian equities could deteriorate further, they cautioned. The fall from the peak levels has seen Nifty's 12-month forward price-to-earnings (P/E) ratio of 17.6 dip toward its 10-year and 5-year (pre-COVID) average of 16.9, which suggests that valuation froth of Indian equities has settled, said the Credit Suisse analysts.
For Prime Minister Narendra Modi to dig up the perceived past of the DMK rival, now under a new leader in M K Stalin, may not gel with the voters, both old and new. If they are still going to vote for the AIADMK-BJP combine, it will be for entirely different reasons, and despite Modi's poll speeches, says N Sathiya Moorthy.
OPS said Jayalalithaa had turned the AIADMK into 'an iron fortress which cannot be shaken by anyone'.
Good intentions and elaborate roadmaps apart, there is an urgent need for the Tamil Nadu chief minister to come up with branded schemes like MGR's meal scheme, asserts N Sathiya Moorthy.
'See, nobody asked "Michael Jackson arrey, aap aaj kal toh filmon mein nahi gaate ho".' 'The problem is in India, a lot of undue importance is given to film singing.'
ITC has been one of the best performing large-cap stock at the bourses thus far in calendar year 2022 (CY22), rallying nearly 52 per cent during this period and outperforming the sector benchmark - the S&P BSE FMCG index - by a wide margin that moved up around 17 per cent during this period. However, the counter has lost over 5 per cent from its recent high of Rs 346.25 hit on September 23, 2022 and has underperformed the S&P BSE Sensex, which has lost nearly 2 per cent since then. So, is the rally in the stock coming to an end, and is this a good time to book profit?
While analysts remains overweight on financials, property, discretionary, industrials and materials, they maintain a neutral stance on pharma, telecom and energy; and underweight on staples, utilities, and IT services.
Unless controlled and contained, given the untested belief that the north Indian labour support and follow the Hindutva kind of political ideology, there is a potential in terms of ideological clashes with their Dravidian brethren in the local neighbourhoods, and it all escalating into violence, especially during election time, predicts N Sathiya Moorthy.
MK Stalin's ruling AIDMK rival does not thankfully face such problems as he did, but its problems could be worse if saner counsel does not prevail between now and the assembly polls, warns N Sathiya Moorthy.
AIADMK leaders and supporters pay homage to J Jayalithaa on her 5th death anniversary.
Sasikala's declaration of staying away from politics does not necessarily have to mean that she was retiring for good. She is only taking time to evaluate the post-poll chances of hers before digging in again, if possible, says N Sathiya Moorthy.
'The BJP wants an AIADMK government so that they can implement their policies.' 'All the policies implemented in UP are being implemented in Tamil Nadu.'
Sushmita gives attitude... Ayushmann likes this time... So does Mouni...
The current valuation is 38 per cent higher than the 10-year average of 22x and over 50 per cent higher than the 20-year average of around 20x.
Palanivel Thiaga Rajan was on the hit-list, not because the chief minister was unhappy with his performance, but because there were constant complaints from other ministers that he was sitting on their files far too long, observes N Sathiya Moorthy.
The BJP and the AIADMK are unable to sort out ideological differences, observes N Sathiya Moorthy.
She's the first K-pop soloist to chart a Top 10 album for three weeks straight on Billboard 200.
