Sat, Jan 20, 2024
ICICI Bank reported a better-than-expected net profit for the October-December period on Saturday, January 20.
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Wed, Jan 17, 2024
Consolidated profit after tax for ICICI Securities for the December quarter came in at Rs 466 crore, which was higher by 65.8 per cent from Rs 281 crore Year-on-Year (YoY). Consolidated revenue for the company also saw a jump of 50.5 per cent to Rs 1323 crore from Rs 879 crore.
Mon, Jan 15, 2024
According to IDBI Capital Markets, although economic momentum likely continued in the October-December period, the RBI’s regulatory action on unsecured portfolios could play spoilsport for the BFSI sector as a whole.
Mon, Dec 07, 2020
The users of ‘iMobile Pay’ can also transfer money to any bank account, payment app and digital wallet.
Strong earnings defence by most I.T. stocks appears priced-in especially for midcap names. Incremental consensus EPS upgrades to be revenue-led. Deal wins / order bookings in Q3 FY21 to be a key trigger. Elevated valuations could be a deterrent and may induce a time correction. HCL Technologies, Infosys, Tech Mahindra are preferred bottom-up stock picks for CLSA.
Nifty index opened positive and continues its streak of making yet another lifetime high of 13280 marks. During the day, it witnessed a decline towards 13150 zones which was smartly bought and finally index registered the highest closing with gains of more than 120 points. It formed a Bullish candle on both the daily and weekly scale and continues forming higher highs - higher lows from the last five trading sessions.
Wed, Nov 25, 2020
Most private banks (PBs) and NBFCs reported improvement in collection efficiency, especially in the tail months of Q2 and most banks guided for low restructuring levels. The quarter saw an uptick in NII growth (helped by fall in cost of funds) and incremental normalising of disbursement (especially recovery in retail disbursements), with certain segments reaching pre-COVID levels.
Tue, Nov 24, 2020
Management expects credit costs to normalize from FY22 & better capital and CASA will aid loan growth. NPL formation may be elevated in second half of FY21 but is adequately provided for. New holding company recommendations are in line with broader expectations but tax-neutrality can take time & dual-listing of Holding company and the bank needs to be watched.
Mon, Nov 23, 2020
RBI is the final deciding authority. A corporate house like Larsen & Toubro was not given a banking license by RBI. While Uday Kotak has been allowed to hold a 26% stake in Kotak Mahindra Bank, the promoter Hindujas’ plea for raising its stake in IndusInd Bank (applied in March 2020) has yet to be decided by RBI.
Fri, Nov 20, 2020
ICICI Bank is the first in the industry to introduce a fully digital, cardless EMI facility at retail stores.
Wed, Nov 18, 2020
Steady NII growth and controlled opex drive earnings Q2 FY21 has been an exciting quarter for the sector. The asset quality outlook appears to be better than was initially feared as collection efficiency improved sharply in Q2 and most banks guided for low restructuring levels. Motilal Oswal also saw an uptick in NII growth, aided by improved cost of funds and recovery in retail disbursements, with certain segments reaching pre-COVID levels.
The key message was that the +95% collection rate banks indicated for Sep 2020 continued in Oct and trends look positive for Nov as well; this is providing management comfort that their 70-130 bps in Covid-19 provisions are adequate to cover the losses from the pandemic.
Sat, Nov 14, 2020
HDFC Bank launches Merchant solution, ICICI Bank’s retail home loan portfolio crosses Rs 2 tn, LIC Housing Finance reported profit of Rs 8 bn, up 2% YoY, a tad ahead of estimate led by lower provision and Indiabulls Housing Finance consolidated Q2 FY21 Net Profit declined 54% YoY to Rs 3.2 bn.
Thu, Nov 12, 2020
The mutual positive ideas emerging from our technical and fundamental analysis are ICICI Bank, Axis Bank, HDFC Bank, Dr Reddy’s, Infosys and HCL Tech. Our fundamental view argues for a rotation into Covid-impacted sectors as economic normalisation gathers pace through 2021 and CLSA see laggards from domestic economy sectors such as banking as the chief beneficiaries of such a move.
Wed, Nov 11, 2020
Prabhudas Lilladher believes that current uncertainty is a passing phase and return to normalcy will result in several beaten down segments bouncing back strongly from FY22. They continue to favor companies with strong balance sheet and sustainable business moats in the long term. From Large Cap they picked Hindustan Unilever, ICICI Bank, Infosys, Ultratech Cement and Dr. Reddy’s Labs.
Sat, Nov 07, 2020
Commenting on the role played by digital initiatives in their growth, Sandeep Bakhshi said, “Digital is core to our strategy of integrating across ecosystems, smooth onboarding and transactions, growth in liabilities and analytics for risk selection.”
Fri, Nov 06, 2020
The country's second-largest private sector lender ICICI Bank on Thursday launched a special offering for the millennial segment, with features like exclusive branches that will host entertainment events
Thu, Nov 05, 2020
Benchmark Nifty has rebounded sharply after hitting the levels of 7510 in the month of March 2020. The index is in the third leg of a major corrective pattern. It is correcting after hitting the crucial and psychological mark of 12000. Until the market is above the level of 10800 (previous significant bottom), Nifty would keep rallying. Below 10800 levels Nifty would lose its momentum and may even fall to 10300 levels. On the decisive crossing of 12400 levels would lift the Nifty to 13300 levels.
Wed, Nov 04, 2020
The Enforcement Directorate (ED) on Wednesday filed its first chargesheet in the ICICI-Videocon loan case, naming former ICICI Bank CEO Chanda Kochhar, her husband Deepak Kochhar, Videocon group chief Venugopal Dhoot and seven firms in a money laundering case.
Tue, Nov 03, 2020
A key takeaway from the Q2 FY21 is that the result season has seen a strong start. Upgrades to FY21 earnings outweigh downgrades. Asset quality trends are also better than the worst fears for banks.
Mon, Nov 02, 2020
Management clarified that in most retail segments, the level of collection has reached 97% of pre-Covid levels and corporate overdues are just 3% of loans.
Sat, Oct 31, 2020
ICICI Bank on Saturday reported an over six-fold jump in its standalone net profit at Rs 4,251 crore for the second quarter ended September 2020.
Wed, Oct 28, 2020
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![ICICI Bank share price today: "Buy"says Jefferies - Must-know highlights for investors](http://50342.g72ip.group/sites/default/files/styles/zeebiz_160x90/public/2020/11/24/134286-icicic.jpg?itok=FwBX9XPV&c=a48453b41858dd6fc7485a6e5766496d "ICICI Bank share price today: "Buy"says Jefferies - Must-know highlights for investors")
