·RBI cuts repo rate by 25 bps to 7.75%
The Reserve Bank of India cut interest rates on Thursday by 25 basis points to 7.75% in a surprise inter-meeting cut, yielding to growing signs of slowing inflation and a flagging recovery.RBI cuts repo rate by 25 bps which is positive for banking sector (SBI, ICICI, PNB, BOB etc) and NBFCs (Bajaj Finance, LIC Housing etc)The RBI has reduced repo rate by 25 bps to 7.75% (from 8 % earlier) with immediate effect.RBI also indicated that it is open for further easing in future as inflation may be below 6% levels in Jan 2016.This is significant positive for banking sector and NBFCs (Bajaj Finance, LIC Housing etc).
·Federal Bank Q3FY15: Sharp dip in provisions supports earnings
Federal Bank Ltd has announced the following Unaudited Standalone results for the quarter ended Dec 31, 2014:Net profit up 15.01% at Rs264.69 crore vs Rs230.13 crore (YoY),Total Income up 10.23% at Rs2090.01 crore vs Rs1895.92 crore (YoY)Federal Bank reported net profit of Rs264.7 crore (up 15% YoY) driven by sharp decline in provision expenses (-0.9 crore Vs 45.71 crore in Q3FY14) and strong growth in non-interest income (up 40% YoY).
·Bajaj Auto Q3 nos In-Line; Net Profit down 5% (YoY)
Bajaj Auto has announced the following results for the quarter ended Dec 31, 2014 (YoY):Net profit of the company slipped by 4.78% to Rs861.24 crore Vs Rs904.55 crore (YoY). Total Income fell by 0.93% to Rs984615.27 crore Vs Rs993911.84 crore (YoY).
·DB Corp Q3 consolidated net profit up 11% (YoY)
DB Corp has announced the following Unaudited results for the quarter ended Dec 31, 2014 (YoY):Standalone. The Company has posted a net profit of Rs105.16 crore Vs Rs94.83 crore (YoY). Total Income is Rs557.27 crore Vs Rs520.32 crore (YoY)Net profit of the Company rose by 11.28% to Rs105.12 crore Vs Rs94.46 crore (YoY). Total Income increased by 6.05% to Rs557.43 crore Vs Rs525.62 crore (YoY).
·IOC falls on stake sale reports
Shares of IOC fall nearly 1% on NSE in otherwise strong markets on back of stake sale reports. The government is planning to raise Rs8000 crore by divesting 10% stake in IOC. The divestment department has taken a draft note to CCEA for this stake sale. Given the rising uncertainty of divestment of ONGC and Coal India, the department has taken this approval as plan B. IOC shares could remain weak.
·JK Tyre allots 2.15 crore share to promoter
JK Tyre & Industries has allotted 2.15 crore share to the promoter on conversion of warrants which were issued in December 2013.
·United Bank sheds base rate on RBI stir, stock up
Shares in United Bank extended gains by 4.2% at Rs43.70 on NSE after the RBI announcement. United Bank of India said it would cut its base rate by 25 basis points to 10 percent from February 1, after the Reserve Bank of India itself cut rates in a surprise inter-meeting move.
·Delta Corp surges on receiving 5 Star accreditation
Shares of Delta Corp surged 7% to Rs102 on NSE on receiving Five Star accreditation. Delta Corp Limited's all-suite hotel, Deltin Suites, in Goa receives Five Star accreditation
The Reserve Bank of India cut interest rates on Thursday by 25 basis points to 7.75% in a surprise inter-meeting cut, yielding to growing signs of slowing inflation and a flagging recovery.RBI cuts repo rate by 25 bps which is positive for banking sector (SBI, ICICI, PNB, BOB etc) and NBFCs (Bajaj Finance, LIC Housing etc)The RBI has reduced repo rate by 25 bps to 7.75% (from 8 % earlier) with immediate effect.RBI also indicated that it is open for further easing in future as inflation may be below 6% levels in Jan 2016.This is significant positive for banking sector and NBFCs (Bajaj Finance, LIC Housing etc).
·Federal Bank Q3FY15: Sharp dip in provisions supports earnings
Federal Bank Ltd has announced the following Unaudited Standalone results for the quarter ended Dec 31, 2014:Net profit up 15.01% at Rs264.69 crore vs Rs230.13 crore (YoY),Total Income up 10.23% at Rs2090.01 crore vs Rs1895.92 crore (YoY)Federal Bank reported net profit of Rs264.7 crore (up 15% YoY) driven by sharp decline in provision expenses (-0.9 crore Vs 45.71 crore in Q3FY14) and strong growth in non-interest income (up 40% YoY).
·Bajaj Auto Q3 nos In-Line; Net Profit down 5% (YoY)
Bajaj Auto has announced the following results for the quarter ended Dec 31, 2014 (YoY):Net profit of the company slipped by 4.78% to Rs861.24 crore Vs Rs904.55 crore (YoY). Total Income fell by 0.93% to Rs984615.27 crore Vs Rs993911.84 crore (YoY).
·DB Corp Q3 consolidated net profit up 11% (YoY)
DB Corp has announced the following Unaudited results for the quarter ended Dec 31, 2014 (YoY):Standalone. The Company has posted a net profit of Rs105.16 crore Vs Rs94.83 crore (YoY). Total Income is Rs557.27 crore Vs Rs520.32 crore (YoY)Net profit of the Company rose by 11.28% to Rs105.12 crore Vs Rs94.46 crore (YoY). Total Income increased by 6.05% to Rs557.43 crore Vs Rs525.62 crore (YoY).
·IOC falls on stake sale reports
Shares of IOC fall nearly 1% on NSE in otherwise strong markets on back of stake sale reports. The government is planning to raise Rs8000 crore by divesting 10% stake in IOC. The divestment department has taken a draft note to CCEA for this stake sale. Given the rising uncertainty of divestment of ONGC and Coal India, the department has taken this approval as plan B. IOC shares could remain weak.
·JK Tyre allots 2.15 crore share to promoter
JK Tyre & Industries has allotted 2.15 crore share to the promoter on conversion of warrants which were issued in December 2013.
·United Bank sheds base rate on RBI stir, stock up
Shares in United Bank extended gains by 4.2% at Rs43.70 on NSE after the RBI announcement. United Bank of India said it would cut its base rate by 25 basis points to 10 percent from February 1, after the Reserve Bank of India itself cut rates in a surprise inter-meeting move.
·Delta Corp surges on receiving 5 Star accreditation
Shares of Delta Corp surged 7% to Rs102 on NSE on receiving Five Star accreditation. Delta Corp Limited's all-suite hotel, Deltin Suites, in Goa receives Five Star accreditation
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