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Nikita Vashisht is a business journalist tracking equity markets for Business Standard. She writes stories based on fundamental analysis of stocks of banking, aviation, FMCG, infrastructure, real estate, and new-age companies. Occasionally, she also writes on investment strategies for mutual fund investors. Nikita holds a degree in journalism, and business management, and is a certified fundamental and technical analyst for stocks and commodities.
Nikita Vashisht is a business journalist tracking equity markets for Business Standard. She writes stories based on fundamental analysis of stocks of banking, aviation, FMCG, infrastructure, real estate, and new-age companies. Occasionally, she also writes on investment strategies for mutual fund investors. Nikita holds a degree in journalism, and business management, and is a certified fundamental and technical analyst for stocks and commodities.
Analysts at Edelweiss expect divergence and provisions from DHFL to off-set the recoveries from the resolution of the Essar Steel account.
As per estimates by Motilal Oswal Financial Services, the bank is poised to write-back provisions worth Rs 2,100 crore (Essar Steel), & Rs 400 crore (Rs 200 crore each from Ruchi Soya & Bhushan Power)
The bank, which is slated to report its Q3FY20 numbers later today, is expected to report a nearly 300 per cent rise in the net profit at Rs 1,851 crore on a year-on-year (YoY) basis.
Net interest income, however, is likely to grow between 11 and 16 % YoY to Rs 14,409.5 crore, up from Rs 12,576.8 crore reported in the same quarter last year, and Rs 13,515 crore in Q2FY20
With this, the telcos will have to together pay an estimated Rs 1.47 trillion in AGR dues that include penalties and interest on penalties by January 23.
Brent Crude Futures surged over 3 per cent to trade at $68.25 per barrel-mark. The West Texas Intermediate, too, gained 2.71 per cent to $62.84 per barrel.
Receding global trade war fears, continuity of government policies, benefits of low-tax for corporates, good monsoon, and low-interest rate regime will turn sentiment around in 2020
Repo rate now stands at 5.15%, lowest in nine years. A sixth cut this year would mark the longest streak of consecutive rate cuts since the current interest rate framework was introduced 20 years ago
The bank's IPO will remain open between November 22 and 26, while allotment would be made on December 2, 2019. The shares would be listed on, both, the NSE and BSE on December 4.
The stock, however, bounced back 24.5 per cent from day's low to hit an intra-day high of Rs 3.25 per share on reports that the government was mulling sops to revive the telecom sector.
ICICI Securities remains positive on the stock considering the overall low capacity growth in Indian airlines & expected improvement in operations over the next two years with better cost management
The brokerage pegs the sales revenue at Rs 2,817 crore, up 50.3 per cent from Rs 1,874.8 crore logged in Q2FY19. This would, however, translate to a 6.2 sequential decline.
The bank, which got merged with Vijaya Bank and Dena Bank, posted a standalone profit of Rs 425.4 crore in the corresponding quarter of the previous fiscal (Q2FY19)
Finance Minister Nirmala Sitharaman said the government will put in Rs 10,000 crore in this AIF while SBI & LIC would provide Rs 15,000 crore, taking the total size to Rs 25,000 crore
"Slippages to remain elevated including McLeod Russel, ADA-NBFC group and Cox & Kings. The bank will take mark-to-market (MTM) on DHFL bonds," said analysts at Emkay Global Financial Services
Analysts on average believe the private lender's PAT could come in between Rs 2,224.8 crore and Rs 2,769.3 crore, up 144 to 205 per cent YoY
The largest public lender reported a net profit of Rs 944.9 crore in the corresponding quarter of the previous fiscal, and Rs 2,312.2 crore in Q1FY20
Analysts at Prabhudas Lilladher, however, expect a higher revenue at Rs 8,364.7 crore, up 35.2 per cent YoY, on the back of increased international operation
Among the top 10 gainers in the S&P BSE500 index, five companies are from the financial sector. This comes at a time when the sentiment was impacted by the liquidity crunch post-IL&FS fiasco.
During Samvat 2075 (till October 18), the headline S&P BSE Sensex advanced 11.5 per cent, while the broader Nifty50 index has moved up nearly 10 per cent.