Shares of MRF, Astral, 3M India, Adani Wilmar, Godrej Properties, IDFC First Bank, Star Healthcare, Sona BLW and Procter & Gamble Hygiene from the BSE 200 index hit 52-week lows
The company's overall provisions, excluding tax doubled to Rs 1,338 crore from Rs 655 crore in the same quarter a year ago
IDFC First Bank on Saturday reported 53 per cent decline in net profit at Rs 339 crore for the third quarter ended December 2024 on increased provisions due to higher slippages of loans. The private sector lender had earned a net profit of Rs 716 crore in the same quarter a year ago. Total income increased to Rs 11,123 crore during the quarter from Rs 9,396 crore in the same period a year ago, IDFC First Bank said in a regulatory filing. Interest income increased to Rs 9,343 crore from Rs 7,879 crore a year ago. On the asset quality front, the bank's gross non-performing assets ratio improved to 1.94 per cent from 2.04 per cent a year ago. Similarly, net NPAs, or bad loans, came down to 0.52 per cent from 0.68 per cent at the end of the third quarter last fiscal. However, overall provisions, excluding tax doubled to Rs 1,338 crore from Rs 655 crore in the same quarter a year ago. Provisions coverage ratio on non-performing loans was 78.2 per cent as on December 31, 2024. The gr
At 02:05 PM, the Nifty Private Bank index was the top loser among financial sector indices, down 2.4 per cent as compared to 0.52 per cent decline in the Nifty 50
F&O cues for Oct 31: The NSE Nifty 50 index is seen consolidating in the 24,100 - 24,500 range for the last few trading sessions.
F&O cues for Oct 30: Nifty options reveals a neutral sentiment with Call and Put activity nearing parity, and the PCR rising to 0.93, said Dhupesh Dhameja of SAMCO Securities.
F&O cues for Oct 29: Analysts expect the Nifty to extend gains in case of sustained trade above 24,500 levels; key support on the downside seen at 24,100.
IDFC First Bank on Saturday posted a 73 per cent decline in its standalone profit to Rs 11,746 crore in the second quarter ended in September 2024. The private sector lender had earned a net profit of Rs 751 crore in the same quarter a year ago. However, total income increased to Rs 10,684 crore during the quarter under review against Rs 8,786 crore in the same period last year, IDFC First Bank said in a regulatory filing. The bank reported interest income of Rs 8,957 crore during the quarter compared to Rs 7,356 crore in the same period a year ago. Provisions for Q2 FY25 stood at Rs 1,732 crore, primarily on account of prudent provisioning buffer of Rs 568 crore, the bank said in a statement. Net Interest Income (NII) improved to Rs 4,788 crore, from Rs 3,950 crore in the second quarter of the previous year. As regards asset quality, the bank witnessed improvement with gross Non-Performing Assets (NPAs) declining to 1.92 per cent of the gross loans by the end of September 2024 fr
F&O cues for Oct 21: Despite Friday's recovery, Nifty options continues to reflect cautious sentiment, with call writing outweighing put writing on Friday, said Dhupesh Dhameja of SAMCO Securities.
Derivatives market update Oct 15: In case of Bank Nifty the max pain is seen at 51,800; with the PCR rising to 1 - tilt towards a bullish bias is observed, says SAMCO Securities analyst.
IDFC First Bank on Friday announced the completion of merger of IDFC Limited with the bank. This follows the receipt of all requisite shareholder and regulatory approvals, the bank said in a statement. The merger is effective from October 1, 2024, it added. As a result of the merger, it said, 155 equity shares of the bank will be allotted for every 100 equity shares of IDFC Limited held by such shareholder in IDFC Limited as on the Record Date i.e., October 10, 2024. The shares are expected to be credited to shareholders of IDFC Limited on or before October 31, 2024, subject to regulatory processes and clearances, it said. Post the amalgamation, there will be a simplified corporate structure at the Bank with no holding company, it said. "The shareholding structure will be like other leading institutional Indian private sector banks with no promoter holding. The bank will continue to be professionally managed institution," it said. As part of the merger, it said, about Rs 600 cro
He took over as the MD and CEO of IDFC First Bank in December 2018, following the merger of Capital First and IDFC Bank