Sumant Kathpalia, CEO, IndusInd Bank on CNBC-TV18-RoA remains in the range of 1.8-2.2%; it will be above 2% next year
-Small & mid-corporates seeing healthy growth of 11%
-Net interest margin will be in 4.15-4.25% range
-Fixed rate book will start giving value once interest rates start going down
-Should see further downward move in slippages going forward
-Expect credit cost to be at 110-130 bps in FY 24
Anil Rai Gupta of Havells India on Q3 numbersSpeaking to CNBC-TV18, he said
-Most of the high cost of inventory is sold so expect high margin in following quarters
-Optimistic on growth in lighting business, see a lot of innovations in this space
-B2C demand is weak due to inflationary trend, expect it to continue for 2 more quarters
-Expect 3-4% price hikes due to fans rating change
Markets at 11 AMSensex is up 56.12 points or 0.09 percent at 60,914.55. Nifty is up 10.60 points or 0.06 percent at 18,118.40. About 1756 shares have advanced, 1311 shares declined, and 147 shares are unchanged.
BHEL share price rise 3% on winning Rs 300 crore orderBharat Heavy Electricals has bagged Rs 300 crore worth order for renovation & modernisation (R&M) of steam turbines at Ukai thermal power station in Gujarat.
L&T Technology Services shares fall despite Q3 profit rises 7.5%L&T Technology Services has reported a 7.5% sequential growth in profit at Rs 303.6 crore for December FY23 quarter, with revenue rising 2.7% to Rs 2,048.6 crore and revenue in dollar terms increasing 0.4% to $248 million for the quarter. At the operating level, EBIT climbed 6.3% sequentially to Rs 382.9 crore and margin expanded 60 bps to 18.7% for the quarter. Also, the company received a multi-year contract from Airbus for providing advanced engineering capabilities and digital manufacturing services.
Results on January 21
Asian stocks edge up
Most Asian equity markets edged higher on Friday, while the U.S. dollar hung near its weakest level since May, with investors fretting about the risks of a global recession as the Federal Reserve presses on with interest rate increases.
U.S. Treasury yields remained elevated in Tokyo after bouncing off four-month lows overnight. Japanese government bond yields stayed depressed, two days after the Bank of Japan defied investor pressure to loosen yield curve controls further.
Japan’s Nikkei added 0.16%, while Australia’s benchmark edged 0.09% higher, although South Korea’s Kospi slipped 0.24%.
Hong Kong’s Hang Seng advance620.75% and mainland blue chips were 0.32% firmer.
Buzzing:Can Fin Homes has reported a 31% year-on-year growth in profit at Rs 151.5 crore for quarter ended December FY23, supported by lower provisions. Net interest income for the quarter at Rs 251.71 crore grew by 22.23% YoY. Asset quality improved with gross non-performing assets (NPA) improving by 2 bps QoQ to 0.60% and net NPA falling 5 bps to 0.30% in Q3FY23.
Nifty PSU Bank index added nearly 1 percent led by Bank of Baroda, Canara Bank, Punjab National Bank
Sun Pharma shares fall on acquisition newsSun Pharmaceutical Industries share price fell as company is going to acquire Concert Pharmaceuticals for $576 million or $8 per share. Concert is a late-stage biotechnology company, developing deuruxolitinib, an oral inhibitor of Janus kinases JAK1 and JAK2 for the treatment of alopecia areata, an autoimmune dermatological disease.
|Company||CMP||High Low||Gain from Day’s Low|
|HUL||2,575.95|| 2,605.00 |
Asian Paints2,834.55 2,850.10