Total open interest, or outstanding positions, in HDFC's stock futures has surged by 115% to 4.19 lakh contracts - a record build-up - after its third-quarter results with most of them being short positions, said Ruchit Jain, lead research analyst at 5Paisa.com.
Total open interest, or outstanding positions, in HDFC's stock futures has surged by 115% to 4.19 lakh contracts - a record build-up - after its third-quarter results with most of them being short positions, said Ruchit Jain, lead research analyst at 5Paisa.com.
Bandhan Bank had a loan portfolio of Rs 1.16 lakh crore, up 18.6% over corresponding quarter last year. Its share of secured portfolio stood at 44.5% for the quarter ending December 2023 as against 44% in the previous quarter, he said. Shares of Bandhan Bank closed at Rs 216 on Friday, up 0.96% over previous trading day.
The pay cuts come as DBS, which is also Southeast Asia's biggest bank by assets, maintained its guidance for net interest income for 2024 at around last year's levels after posting a 2% rise in fourth quarter net profit that beat expectations. DBS shares rose nearly 3% on Wednesday, outperforming the benchmark index's 1% gain.
DBS Group, Singapore's biggest bank, maintained guidance for net interest income for 2024 at around last year's levels after posting a 2% rise in fourth quarter net profit, beating expectations. Full-year net interest margin (NIM), a key profitability gauge, is expected to be slightly below fourth quarter NIM of 2.13%.
Shares of Bajaj Finance dropped nearly 5% on the NSE after reporting higher loan losses and provisions for the quarter. Macquarie reiterated 'Neutral' stance, while Jefferies and PhillipCapital gave 'Buy' ratings. Bajaj Finance's Q3 consolidated net profit grew 22% YoY to Rs 3,639 crore, slightly below expectations. Macquarie expects credit costs to increase as delinquencies normalize. Jefferies maintains 'Buy' rating with a target of Rs 9,400, citing strong AUM growth and better NIMs.
Macquarie maintained outperform rating on HDFC Bank with target price of Rs 2075. The bank is consolidating, focusing on NIMs. Deposit growth must exceed loan growth by 400bps over next 3 years for pre-merger NIMs. CLSA raised target price for SBI Life to Rs 1730, it has limited impact of surrender value regulations. SBI's wide presence gives it an advantage. CLSA upgraded Dalmia Bharat to buy with target price of Rs 2700. Q3 Ebitda in line with estimates. Nomura maintained neutral rating on IOC with target price of Rs 105, Q3 results above estimates.
The Reserve Bank of India's move to raise the risk on unsecured loans impacted RBL Bank's capital adequacy ratio by 70 points, Subramaniakumar said. The lender is aiming to grow its credit card book around 23-25% going forward, from 29% in the October-December quarter, he added. Read on to know more:
While ICICI Bank matches HDFC Bank in various aspects, including loan growth, funding profile, asset quality, and capital position, it has outperformed on key financial parameters like margins and provisioning buffer.
The Reserve Bank of India's move to raise the risk on unsecured loans impacted RBL Bank's capital adequacy ratio by 70 points, Subramaniakumar said. The lender is aiming to grow its credit card book around 23-25% going forward, from 29% in the October-December quarter, he added. Read on to know more:
The contraction in NIM, ranging from 6 to 36 basis points year-on-year, has been evident in major private banks such as HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and Federal Bank.
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