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The private lender reported a net profit of Rs 517.28 crore as compared to Rs 650.87 crore during the same period last year.
The bank's Net Interest Income grew 33 percent compared to last year at Rs 1,680 crore.
Asset quality remained stable with Gross NPA at 1.48 percent from 1.93 percent in the previous quarter while Net NPA improved to 0.58 percent from 0.81 percent last quarter.
The stock recovered from the day's low to end 1.65 percent lower at Rs 235.90.
Indian equity markets ended lower for the second straight day, dragged lower by the heavyweight Reliance Industries. Most European markets have recovered from the day's low, as have the futures on the Dow Jones which are now lower by 50 points.
The S&P BSE Sensex index ended 0.6 percent lower at 31,371 while the NSE Nifty 50 failed to hold the 9,200 mark, ending 0.5 percent lower at 9,196.
Among sectoral Indices, the Nifty Media index ended as the top gainer with gains of 1.6 percent. The Nifty Metals index too ended 1.3 percent higher, led by gains in Vedanta.
Market breadth saw a slight recovery but stayed in favour of the declines. 688 stock on the NSE ended with gains while 1,064 ended with losses.
16 lakh shares of the FMCG major exchanged hands in a large trade on the National Stock Exchange as per Bloomberg data.
Buyers and sellers in the trade were not immediately known.
Shares currently trade 1.6 percent lower at Rs 2,014. The stock has declined in 9 out of the last 10 sessions.
Today's volumes are 1.6 times higher than its 30-day average. The stock has also broken below its 50-Day Moving Average at Rs 2,032.28.
The Board of Directors at its board meeting held today have declared an interim dividend of Rs 1.50 per equity share of Rs 2 each. This dividend is for the year 2019.
The record date for the same has been fixed as May 20. The proposal will be put to vote at the company's AGM, the date for which will be communicated later, as per the company's press release.
Shares currently trade 0.8 percent higher at Rs 175.30 and are up for the sixth straight day. This is the longest gaining streak for the stock since October 2019.
The Board of Directors of the cement company at a meeting held today have approved an interim dividend of Rs 14 per share for the year 2019.
The record date for the same has been set at May 20. The same will be put to vote at the company's AGM.
However, the company has not announced the date for its AGM, saying that it will be communicated in due course due to the prevailing Covid-19 situation.
Shares recovered from the day's low and are currently trading 0.3 percent lower at Rs 1,166.
The company informed the exchanges that its vessel SEAMEC-III will be deployed end-July or early-August after it completes dry docking.
The vessel is in contract with HAL Offshore Ltd. for a period of two years. The aggregate value of the contract is $23 million.
Another vessel of the company, SEAMEC Princess has been contracted with L&T Hydrocarbon to work at the Mumbai High offshore. The 20-day contract has a total value of Rs 8.07 crore.
Shares are locked in an upper circuit of 5 percent at Rs 314.95.
Key Factors At Play For Nestle India:
Shares fell as much as 4 percent to Rs 96.40 post the announcement.
Here's a look at how benchmarks across Europe have opened:
The pharma company has informed the exchanges that its manufacturing facility at St. Louis has received an Establishment Inspection Report (EIR) from the U.S. FDA.
The inspection of the said facility now stands closed, as per the company's exchange filing.
Shares currently trade 1 percent lower at Rs 2,574 on the National Stock Exchange.
Shri @narendramodi will be addressing the nation at 8 PM this evening.
— PMO India (@PMOIndia) May 12, 2020
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The company has informed the exchanges that it ha resumed partial operations at its Unit-VII from May 11, after obtaining permission from local authorities.
Operations were shut on March 27 after the nation-wide lockdown was announced to curb the spread of Covid-19.
Shares fell as much a 5.32 percent to Rs 46.25. It is trading at its lowest in a month. After its nine-day gaining streak ended on April 20, 2020, the stock has gained only on four instances in the last 15 trading sessions.
India's commerce ministry is proposing a tax holiday for companies bringing in new investments, Bloomberg News reports citing people familiar with the matter.
The government is exploring measures to support the economy amidst the Covid-19 pandemic.
The Finance Ministry is evaluating the proposal to give a 10-year full tax exemption to companies making new investment upwards of $500 million. The plan will require companies to start operations within three years from June 1.
Sectors like medical devices, telecom equipment, electronics and capital goods are likely to be covered under this proposal.
The government is also mulling to provide a four-year tax holiday to companies that invest $100 million or more in labour intensive sectors like textiles, food processing, leather and footwear.
The animal feed and agribusiness company saw its net profit falling 34.4 percent in the fourth quarter to Rs 74.6 crore. A key reason for the fall in profitability was an exceptional gain of Rs 88.3 crore in the same quarter last year.
Low input costs led to the company's Ebitda margin expanding to 7.8 percent from 5.4 percent last year.
The stock gave up gains of as much as 3 percent to decline as much as 4.2 percent to Rs 378.50. Shares are down for the third straight day are have been declining for 7 out of the last 9 trading sessions.
Nifty Bank: May 14 Expiry
The company reported a net loss of Rs 254 crore in the fourth quarter. This compared to a profit of Rs 147 crore during the same quarter last year.
The net loss was due to Mark to market losses of Rs 356 crore due to fair valuation of investments.
While Ebitda fell 4 percent compared to last year, margins narrowed to 44.4 percent from 47.1 percent year-on-year.
Other than the broking business, all other segments of the company reported a de-growth in revenue compared to the previous year.
Shares fell as much as 7.1 percent to Rs 475.70.
The currency opened weaker in today's trading session, extending its losses for the second straight day.
The rupee opened at 75.89 against the U.S. Dollar as compared to Monday's close of 75.73 against the U.S. Dollar.
Yield on the 10-year bonds opened at 6.19 percent as compared to Monday's close of 6.17 percent.
Focus today will be on Macro data that will be reported today. A Bloomberg poll of economists expect the Industrial Production for March to contract 8.85 percent while the CPI inflation for April is likely to accelerate 5.85 percent.
The company informed the exchanges that its subsidiary Biocon Biologics received the certificate of CMP compliance from German regulators for its biologics drug substance facility in Bengaluru.
The said facility is used in the manufacture of drug substances of Pegfilgrastim and Recombinant Human Insulin along with manufacturing related activities for Insulin Glargine and Insulin Aspart.
The regulators had inspected the facility between January 20-23, 2020.
Shares gave up gains of as much as 1.5 percent and now trade 0.5 percent lower at Rs 349.75.
The paint company is the top laggard on the Nifty 50 index in today's trade after Goldman Sachs downgraded the stock to sell from neutral citing slower volume growth over the coming few years.
The brokerage firm has also cut the company's price target to Rs 1,111 from the earlier target of Rs 1,387.
In its note, Goldman Sachs says that the company's valuations look demanding with the lowest revenue growth expectations. It also expects the price/mix growth to be challenged going ahead due to price cuts and downtrading by customers.
Shares fell as much as 3.67 percent to Rs 1,511.95 and are down for the 10th straight day. This is the longest ever losing streak for the stock.
Shares of the company fell as much as 7.35 percent to Rs 863.10 after its fourth quarter results.
The company reported a net loss of Rs 1,701.93 crore this quarter, led by a MAT credit write-off of Rs 1,758 crore. It had reported a net profit of Rs 455.3 crore during the same period last year.
The company also said that the expected credit loss on financial assets stood at Rs 2,019 crore as compared to Rs 107.1 crore last year.
It has declared a dividend of Rs 14 per share and also created an additional provision of Rs 1,903 crore to mitigate potential contingencies in the financial services business.
The stock is down for three out of the last 4 trading sessions.
Indian equity markets opened lower for the second straight day, tracking weak cues from Asia and Wall Street. Most benchmarks in Asia are trading with losses while futures on the Dow Jones are trading lower by 220 points.
The S&P BSE Sensex opened 0.7 percent lower at 31,342 while the NSE Nifty 50 opened 0.76 percent lower at 9,168.
Both benchmark indices fell 800 and 200 points respectively from their day's high to end little changed on Monday.
Most sectoral indices have opened lower with the Nifty Bank opening with losses of 1 percent. Other sectoral laggards include the Nifty PSU Bank index and the Nifty Realty index which have opened 0.7 percent lower.
861 stocks on the NSE opened with gains today while 963 stocks opened with losses.
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