Shares of IndusInd Bank reversed losses and gained as much as 0.6 percent after reporting third quarter earnings in line with street estimates.
The lender’s net profit came in at Rs 751 crore for the quarter-ended December, compared to Rs 581 crore same period last year. A Bloomberg consensus of analysts’ estimate had pegged the profit at Rs 725 crore.
- Gross NPA as of end-December 0.94 percent versus 0.90 percent in end-September
- Q3 provisions Rs 217 crore versus Rs 177 crore
- Interest income Rs 3,700 crore versus Rs 3,000 crore
- Interest expense Rs 2,120 crore versus Rs 1,830 crore
Read full report HERE
Shares of the Cafe Coffee Day chain operator rose 1.7 percent to Rs 199 on the NSE on high trading volume of around 19.3 times its 30-day average.
The stock was resting resistance at 50-day moving average.
Nandan Nilekani, the co-founder of Infosys, raised his holding in Coffee Day Enterprises to 2.57 percent in the quarter-ended December, from earlier 1.4 percent, according to exchange filing.
The stock had fallen 30.1 percent last year, compared to gain of 3 percent on the Nifty.
Shares of Lupin were trading higher by 0.4 percent at Rs 1,495.85 per share.
#BQSpotted by @soumeet_sarkar | Atlas Cycles up 52% over the last 10 sessions. https://t.co/PziE70URaj pic.twitter.com/4X5uzZtGTi
— BloombergQuint (@BloombergQuint) January 10, 2017
More Movers & Shakers: Max Ventures, Engineers India, Ajanta Pharma And More
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Data To Watch- 10:30am: India car sales data for Dec. (prior 173,606)
The dollar was off its highs offering some relief to Asian currencies. The South Korean won has climbed 0.7 percent against the greenback in early trade.
The rupee, which dropped 0.4 percent to about 68.20 a dollar could recover in the session. It is also important to note that the rupee's one-month volatility, a gauge of expected swings in the currency, snapped its five sessions of gains to drop eight basis points today.
For sovereign bonds, the next key data print is inflation, which is due on Thursday. A Bloomberg survey expects it to be at 3.56 percent — lower than the 3.63 percent recorded in November. The estimate could slightly change as we continue to add more analysts to the poll.
For bonds lower inflation could mean more room for rate cuts but the math isn’t that easy. The last meeting of the monetary policy committee had a strong view on inflation so as of now fingers-crossed; the market will trade in a range.
Flipkart gets a new CEO. https://t.co/vttaFiXuav pic.twitter.com/D8dVrnrrqP
— BloombergQuint (@BloombergQuint) January 10, 2017
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