Bandhan Bank, HDFC Life, Info Edge jump 4% on inclusion in F&O segment

HDFC Life Insurance Company, Bandhan Bank, and Info Edge (India) advanced up to 4 per cent each on the National Stock Exchange (NSE) on Tuesday after the exchange approved trading in derivative segment (Futures and Options contracts) in the given stocks from March series.

In a circular issued Monday, NSE said the futures and options contracts on the above mentioned securities would be available for trading w.e.f. February 28,2020. The market lot, scheme of strikes and quantity freeze limit of the above mentioned securities shall be informed to market players on February 27, 2020, it added. READ CIRCULAR HERE

Post inclusion, stocks under the F&O segment will now be 143, up from 140, with effect from February 28, when the March series begins.

Individually, Bandhan Bank hit an intra-day high of Rs 426, up 4.3 per cent, on the NSE. During the December quarter, the bank reported a 120.85 per cent year-on-year (YoY) jump in net profit at Rs 731 crore compared with Rs 331 crore in the same quarter last year. Its net interest income (NIl), meanwhile, grew 37.10 per cent to Rs 1,541 crore, as against Rs 1,124 crore reported in the year-ago quarter. The net interest margin came in at 7.9 per cent.

Besides, HDFC-owned life insurer reported flat growth in net profit at Rs 250 crore, up from Rs 245 crore logged in the corresponding quarter of the previous fiscal, for the recently concluded quarter. In the early morning deals today, HDFC Life Insurance gained up to 3.8 per cent on the NSE.  

Info Edge, on the contrary, posted a consolidated loss of Rs 62.1 crore in the quarter ending December 2019, relative to a consolidated profit of Rs 330 crore. The consolidated income of the company, however, increased to Rs 359.7 crore in the October-December period, over Rs 323 crore in the year-ago period. At 9:58 am, the stock was trading 1.6 per cent higher at Rs 2,752.5 on the NSE, having jumped 3.7 per cent in the intra-day trade.