Among major Sensex gainers Bajaj Finserv rose the most by 1.42 per cent, Axis Bank gained 0.80 per cent, Infosys by 0.72 per cent, Mahindra & Mahindra by 0.60 per cent, Tata Motors by 0.55 per cent, Bajaj Finance by 0.53 per cent and Tata Steel by 0.52 per cent. Kotak Mahindra Bank, ICICI Bank, HCL Technologies, Bharti Airtel, Maruti Suzuki India, Trent Ltd and Tata Consultancy Services were the losers.
ICICI Bank on Saturday reported a 35 per cent jump in net profit in the third quarter this fiscal at Rs 1,230 crore (Rs 12.30 billion) compared to Rs 910 crore (Rs 9.10 billion) in the year-ago period.
Trading sentiment in the stock market this week will be guided by quarterly earning announcements from blue-chips such as Infosys and Bajaj Finance, the outcome of India-US trade talks and global cues, analysts said. Markets may on Monday react to the quarterly results of three heavyweights - Reliance Industries, HDFC Bank and ICICI Bank, an expert said.
Private sector lender ICICI Bank on Friday reported 25 per cent jump in its consolidated net profit for the quarter ended June 30 at Rs 2,077 crore buoyed by increase in advances and higher net interest income (NII).
Equity market investors would track global trends, foreign fund movement and quarterly earnings in a holiday-shortened week ahead, analysts said. Stock exchanges BSE and NSE will conduct a special Muhurat trading session on Tuesday, October 21.
Consolidated total income of the bank, whose share price recently tumbled on rumours of high exposure to overseas sub-prime loans, rose 12.56 per cent to Rs 15,590.46 crore during the quarter against Rs 13,850.57 crore for the same period last year.
This cashless transaction is a part of corporate debt restructuring agreed by banks and the airline company.
Private sector banking major, ICICI Bank has clocked a net profit of Rs 620.01 crore (Rs 6.2 billion) in Q1 FY 07 as against Rs 530.01 crore (Rs 5.3 billion)
ICICI Bank on Saturday reported a 42 per cent increase in net profit at Rs 910.08 crore (Rs 9.10 billion) for the third quarter ended December 31, 2006 when compared with Rs 640.08 crore (Rs 6.40 billion) in Q3 FY06.
The combined market valuation of the top-ten most valued firms jumped by a whopping Rs 3,84,004.73 crore in the holiday-shortened last week, in-tandem with a smart rally in equities, with HDFC Bank and Bharti Airtel emerging as the biggest gainers. Last week, the BSE benchmark Sensex jumped 3,395.94 points or 4.51 per cent, and the NSE Nifty surged 1,023.1 points or 4.48 per cent.
The bank's net profit fell to 2,232 crore for its fiscal first quarter to June 30.
While Chanda Kochhar got a pay of Rs 2.66 crore, Arundhati Bhattacharya took home only Rs 28.96 lakh
ICICI Bank Ltd on Friday said its equity issue aggregating upto Rs 3,500 crore (Rs 35 billion), including a green shoe option, will open on April 2.
The sector's IPO pipeline is led by Tata Capital's Rs 17,000 crore issue, followed by ICICI Prudential Asset Management at Rs 10,200 crore and Billionbrains Garage Ventures at Rs 6,000 crore.
Among Sensex firms, Tata Motors, Bharat Electronics, UltraTech Cement, Tech Mahindra, Mahindra & Mahindra, ICICI Bank, Tata Consultancy Services and Axis Bank were the major laggards. However, Power Grid, Hindustan Unilever, NTPC and HCL Tech were among the gainers.
Leading private sector bank ICICI Bank will charge its customers Rs 5 per transaction from next month for transfer of funds over mobile phones, a service available for free as of now.
From the Sensex pack, ITC, Hindustan Unilever, Mahindra & Mahindra, HDFC Bank, Eternal, Kotak Mahindra Bank, State Bank of India and ICICI Bank were the major gainers. IndusInd Bank, Power Grid, Bharti Airtel, Infosys, and Bajaj Finserv were among the laggards.
Since January this year, RBI has cut the repo rate - at which it lends to commercial banks -- to a gross of 1.25 per cent.
SBI was the top loser in the Sensex pack, shedding around 3 per cent, followed by Bajaj Finserv, Tech Mahindra, Sun Pharma, Bajaj Finance and Axis Bank. Nifty fell 143.60 points to 17,873.60.
Markets end in green with auto, banks on a steady climb.
Microcredit Foundation of India, which is running microcredit programme in Tamil Nadu in partnership with ICICI Bank, has fixed a target of providing credit of over Rs1250 crore (Rs 12.5 billion) to one million women by March 2008.
Net NPAs increased to Rs 36,260 crore in the December quarter from Rs 34,843 crore in September and Rs 33,116 crore in December 2023, observes Tamal Bandyopadhyay.
From the Sensex firms, Tata Motors jumped the most by 5.54 per cent, followed by Kotak Mahindra Bank, Trent, Sun Pharma, Axis Bank, and ICICI Bank. However, Bajaj Finance, State Bank of India, UltraTech Cement and Tata Steel were among the laggards.
India's corporate bond market, driven by public sector undertaking (PSU) banks and financial institutions last year, is losing momentum since the second quarter of FY26.
The bank saw loans worth Rs 7,000 crore (Rs 70 billion) slipping into NPAs during the March quarter, taking the gross NPA ratio to 5.82 per cent.
ICICI Bank puts up a good show in Q4.
Among Sensex firms, Bajaj Finserv, Tata Steel, Sun Pharma, Tech Mahindra, Bajaj Finance, NTPC, Nestle, Tata Motors, Hindustan Unilever and Mahindra & Mahindra were the biggest gainers. IndusInd Bank, Kotak Mahindra Bank, Power Grid and ITC were among the laggards.
A corporate lawyer said that this is the biggest failure of corporate governance in this country. He pointed out that American investors can even take the bank to court for giving false statements to stock exchanges and even file class action suits. Some even questioned how RBI overlooked Kochhar's misdeed.
Of the existing set of potential leaders, Bakhshi was clearly the only choice as he beat out other high-level candidates that included executive directors Anup Bagchi, Vishakha Mulye, NS Kannan, and Vijay Chandok who were lacking the all-round game that Bakhshi has.
From the Sensex firms, HCL Tech, Infosys, Power Grid, Tata Consultancy Services, HDFC Bank, Hindustan Unilever, Bharti Airtel and ICICI Bank were among the major laggards. However, Titan, Larsen & Toubro, Maruti and Axis Bank were among the gainers.
ICICI Bank has reported a 32.23 per cent rise in consolidated net profit at Rs 361.18 crore for the second quarter ended September 30, 2003. On a standalone basis, the bank has posted a 41 per cent rise in net profit at Rs 401.4 crore.
On a standalone basis, the bank posted 17 per cent rise in net profit at Rs 2,655 crore.
The bank has increased its spreads or mark-up over base rate paid by a borrower by 0.10 per cent.
ICICI Bank has quashed rumours of favouritism, nepotism and quid pro quo. The bank clarified that while Chanda Kochhar was on the credit committee, she was not the chairperson. Videocon Chairman Venugopal Dhoot said there was no impropriety in the deal.
ICICI Bank, the country's largest private sector lender, which has identified infrastructure as one of its growth drivers, sees projects worth Rs 150,000 crore for achieving financial closure in the next three to four months.
If there is a decline in the number of Indian students pursuing higher studies in Canada due to the ongoing diplomatic tensions between the two countries, it may have implications for Indian banks operating in the North American country, senior bank officials said.
India's largest private lender ICICI Bank has received bids for more than 100 crore shares, over ten times the shares on offer in its public issue.
From the Sensex firms, Infosys, Tata Consultancy Services, HCL Tech, Tech Mahindra, Tata Motors, Sun Pharma, Maruti and Titan were among the major gainers. Bharat Electronics, Asian Paints, Bharti Airtel and ICICI Bank were among the laggards.
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