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#Budget2017 | What can the union budget do for retail investors?https://t.co/rSNWg7Xm55 pic.twitter.com/s8W7hb8ZFt
— BloombergQuint (@BloombergQuint) January 19, 2017
Shares of the private sector lender pared losses and gained 0.8 percent after its third quarter earnings beat street estimates.
The bank posted a net profit of Rs 882.63 crore for quarter-ended December, compared to Rs 801 crore in the previous quarter. A Bloomberg poll of analysts’ estimate had pegged the profit at Rs 820 crore.
Fresh bad loan accretion at Rs 273 crore versus Rs 386 crore YoY and Rs 266 crore in Q2
#wef17 #Davos | @udaykotak sees modest but steady growth for Indian markets in 2017, reports @menakadoshi. https://t.co/Y23PJ4hIw8 pic.twitter.com/NE5ZOIT0uH
— BloombergQuint (@BloombergQuint) January 19, 2017
Shares of the microfinance firm fell 2.6 percent after its third quarter earnings disappointed street.
The lender reported a net profit of Rs 43.94 crore for the three-month period ending December, compared to Rs 54.7 crore anticipated by analysts according to a Bloomberg poll.
It clocked net sales of Rs 362 crore for the December quarter, compared to Rs 1,030 crore same period last year.
The company said it will commence operations of the small finance bank during the first week of February.
Shares of the edible oil maker jumped 20 percent to Rs 24 with volumes at 14.5 times its 30-day average. The company is said to enter into a marketing deal with Baba Ramdev promoted Patanjali Ayurved, according to a report on ETNow.
As per the deal, Patanjali will brand and market Ruchi Soya made edible oils.
Shares of the media firm gained 0.8 percent after reporting its third quarter earnings. The company made a net profit of Rs 118 crore for the three-month period ending December, compared to Rs 111 crore estimated by analysts polled by Bloomberg.
It clocked net sales of Rs 607 crore for the third quarter, in line with the Rs 604 crore estimated by analysts.
The company will pay an interim dividend of Rs 4 per share, it said in a press release.
Panasonic Energy Rallies... Again
Another setback for Vijay Mallya. pic.twitter.com/WPNqyY2aPS
— BloombergQuint (@BloombergQuint) January 19, 2017
#BQSpotted by @shraddha_babla | Future Market Networks rallies on high volumes. https://t.co/eBevkaEKY1 pic.twitter.com/Y7YPZiYNDk
— BloombergQuint (@BloombergQuint) January 19, 2017
Companies with enterprise value lower than market capitalisation can be good bets, says Karvy Capital. https://t.co/kNbUX5tulA pic.twitter.com/YTNpc9DJaW
— BloombergQuint (@BloombergQuint) January 19, 2017
The housing finance company reduced its retail prime lending rate (RPLR) by 15 basis points as of today.
Shares of the state-owned gas company gained as much as 3.1 percent, the most since December 30, after it said its board will consider a bonus issue in a meeting on January 25.
It will also consider raising funds via issue of binds on a private placement basis, according to the company’s statement one exchanged.
Movers & Shakers: KPIT Technologies, Tata Group Stocks, Swan Energy And More
Double-digit earnings growth plausible in second half of FY18, says @BSLMF's Mahesh Patil.https://t.co/v087H92VrJ pic.twitter.com/fdEh7g2BKz
— BloombergQuint (@BloombergQuint) January 19, 2017
Piling on yesterday's loss, the rupee plunged by another 17 paise to 68.25 against the U.S. dollar in early trade today on increased demand for the American currency from importers.
Besides, the dollar's strength against other currencies overseas also weighed on the rupee but a better trend at the domestic equity market in early trade capped the loss, forex dealers said.
Yesterday, the rupee had ended lower by 13 paise at 68.08 on renewed dollar demand from importers amid worries over capital outflows.
PTI
Shares of the plywood maker were locked in a 5 percent upper circuit for a second day. Well-known investor Porinjuv Veliyath bought 50,000 shares of the company yesterday at Rs 131 apiece, according to BSE data.
The dollar rallied after the Fed chair Janet Yellen signaled rate hikes this year. The odds of an increase in May has now risen to almost 50 percent.
Meanwhile, JPMorgan said the RBI should let the Indian currency weaken as that help exports. A 3-4 percent depreciation of the rupee against the dollar this year would bolster shipments and support the economy.
In bonds, yield on India's 10-year government bond rose to highest in more than two weeks and investors grew cautious ahead of the Budget on February 1.
There is uncertainty about the government staying with its 3 percent fiscal deficit target for 2018, according to HDFC Standard. It said that any deviation from the fiscal consolidation path will be a concern for the bond market.
Eurozone may not survive without change in direction, says Jamie Dimon. pic.twitter.com/Dfu28LtFaw
— BloombergQuint (@BloombergQuint) January 18, 2017
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