Moneycontrol launches Analysts’ Call Tracker. A monthly special page that tells you which way analysts are leaning; the stock they are most bullish or bearish on, what they are upgrading or downgrades, and where they are betting against the market. Ignore this at your own risk!
Bank of Maharashtra Q1 Earnings: Bank of Maharashtra has reported Q1 FY23 net profit at Rs 451.9 crore against Rs 208 crore and net interest income (NII) was up 19.9% at Rs 1,686 crore versus Rs 1,406 crore, YoY.Gross NPA was at 3.74% versus 3.94% and net NPA at 0.88% versus 0.97%, QoQ.
Bhansali Engineering Polymers Q1 results:Bhansali Engineering Polymers has posted 38.2 percent fall in its Q1 net profit at Rs 47.7 crore versus Rs 77.4 crore and revenue was up 45.5% at Rs 337.4 crore versus Rs 232 crore, YoY.Earnings before interest, tax, depreciation and amortization (EBITDA) was down 40.2% at Rs 60.3 crore versus Rs 100.8 crore and margin at 17.9% against 43.5%, YoY.
Sensex, Nifty rally to one-week high: Factors that are driving the markets up
The immediate upside targets for the Nifty are at 16,321 mark and then at 16,500 mark. The index would go south only if it drops below its biggest support at 15851, says Prashanth Tapse, Vice…
Kotak Institutional Equities View on HDFC Bank
The research firm Kotak Institutional Equities has kept a buy rating on HDFC Bank with a target of Rs 1,650 per share.
The company posted 19 percent YoY earnings growth on the back of two percent operating profit growth. The high treasury losses were offset by healthy NII growth and solid fee income growth.
Asset quality metrics were stable while near-term overhang would be the merger.
HDFC Bank was quoting at Rs 1,345.85, down Rs 18.00, or 1.32 percent on the BSE.
BSE Smallcap index rose 1 percent supported by the Quick Heal Technologies, Vardhman Textiles, Max Ventures and Industries
Market at 1 PMIndian benchmark indices were trading at day’s high level with Nifty above 16200.The Sensex was up 585.33 points or 1.09% at 54346.11, and the Nifty was up 176.70 points or 1.10% at 16225.90. About 2161 shares have advanced, 1008 shares declined, and 131 shares are unchanged.
KNR Constructions bags road construction project in Telangana
KNR Constructions has received Letter of Acceptance for construction of four lane road from IDA Pashamailaram Industrial Park to ORR in Sangareddy district, Telangana. The order is worth Rs 34.26 crore. The construction period for the said project is 18 months.
KNR Constructions was quoting at Rs 254.20, up Rs 2.90, or 1.15 percent on the BSE.
RBI seeks ban on cryptos but India needs global support to make that effective: FM Sitharaman
The comments by the finance minister come as the government’s consultation paper on crypto is awaits a resolution
Nomura View on HDFC Bank:
The brokerage house Nomura has maintained a buy rating on HDFC Bank and cut the target price to Rs 1,690 per share.
Further decline in provisions aided profit.
FY23/24/25 EPS estimates changed to -1.2/-0.6/-0.8 percent on lower treasury income and lower net interest margin (NIM).
Nomura forecast 16.6 and 16.8 percent EPS and core book value compound annual growth rate (CAGR) respectively over FY22-25, CNBC-TV18 reported.
Results on July 18:
HeidelbergCement India, Nelco, Bank of Maharashtra, Bhansali Engineering Polymers, Alok Industries, Ganesh Housing Corporation, Onward Technologies, Sudal Industries, Tanfac Industries will be in focus ahead of quarterly earnings on July 18.