ICICI Bank Q3 preview: Analysts expect double-digit growth in profit, NII

Country's largest private sector lender ICICI Bank is likely to show further improvement in earnings with loan growth and net interest income in double digits.

Slippages may moderate and asset quality is likely to be stable in Q3. Profitability is likely to be supported by higher treasury income and pre-provisioning profit during the quarter.

Brokerages expect 5-40 percent on-year growth in profit but sequentially it is expected to show a massive 80-150 percent increase on a low base.

Reliance Securities, Motilal Oswal, Edelweiss Securities and Sharekhan expect more than 100 percent increase QoQ in profitability.

Net interest income, the difference between interest earned and interest expended, may grow in the range of 13-20 percent compared to year-ago with loan growth of around 13-15 percent.

"We expect steady improvement in earnings trajectory led by a recovery in loan growth (around 15 percent YoY) and strong NII growth (20 percent YoY)," Kotak Securities said, adding net interest margin may be flat/marginally positive QoQ.

Motilal Oswal expects loan growth to be around 13 percent YoY, driven largely by retail loans. "Corporate loan growth would be moderate while overseas book would continue to see a decline. Deposit is expected to grow at around 12 percent YoY."

According to the research house, net interest income is expected to grow around 16 percent YoY, whereas Emkay said net interest margin is likely to be stable in Q3, but may look better in Q4 on the back of heavy NPA resolutions.

Overall brokerages expect other income (non-interest income) as well as operating profit to grow more than 20 percent.

Asset quality may see some improvement in Q3 as slippages could stabilise, brokerages said.

Kotak Securities expects reduction in gross NPLs on the back of resolution as well as write-offs. At the same time, watchlist loans will decline QoQ and coverage ratio will improve QoQ, it said.

Gross slippages are expected to moderate to 2.4 percent due to reduction in corporate slippages, Motilal Oswal said, adding net stress loans during Q2FY19 stood at 5.9 percent of loans and are expected to decline further as incremental stress addition moderates.

Emkay sees slippages in the range of Rs 3,000-4,000 crore for the quarter.

Source:https://www.moneycontrol.com/news/business/earnings/icici-bank-q3-preview-analysts-expect-double-digit-growth-in-profit-nii-3450391.html

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Volatile trade continues on D-St; Nifty below 10,650; metal stocks outshine

Market Update: Benchmark indices are trading flat with Sensex up 11.97 points or 0.03% at 35604.47, and the Nifty down 7.40 points or 0.07% at 10644.80.
About 1127 shares have advanced, 929 shares declined, and 106 shares are unchanged. 

Market Opens: It is a strong start for the Indian indices on Wednesday with Nifty is trading around 10,700.

At 09:17 hrs IST, the Sensex is up 148.83 points at 35741.33, while Nifty is up 41.10 points at 10693.30. About 472 shares have advanced, 299 shares declined, and 35 shares are unchanged. 

Axis Bank, HCL Tech, Bank of Baroda, Bajaj Finserv, Indiabulls Housing, Yes Bank, ICICI Bank are among major gainers on the indices, while losers include Adani Ports, BPCL, HDFC Bank, Hero Moto, Dr Reddy's Lab.

Rupee Opens: The Indian rupee opened lower by 25 paise at 71.36 per dollar on Wednesday against Tuesday's close 71.11.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-volatile-trade-continues-on-d-st-nifty-below-10650-metal-stocks-outshine-3453021.html

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Opening Bell

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Sensex ends 169 pts lower, Nifty below 10,800; Zee Ent plunges 30%

Market at close: Indian indices erased all its morning gains and ended lower on Friday with Nifty finished below 10,800 level.

At the close, the Sensex was down 169.56 points at 36,025.54, while Nifty was down 69.30 points at 10, 780.50. About 692 shares have advanced, 1829 shares declined, and 150 shares are unchanged. 

Bharti Infratel, HCL Tech, Bharti Airtel, Cipla and Yes Bank were the top gainers on the Nifty, while Zee Entertainment, Maruti Suzuki, UltraTech Cement, Hero Motocorp and Indiabulls Housing were the top losers on the Nifty.

Among the sectors, auto index slipped over 3 percent followed by bank, FMCG, infra and metal index. BSE midcap and smallcap stocks also finished lower with more than 1 percent cut.

Source: https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-ends-169-pts-lower-nifty-below-10800-zee-ent-plunges-30-3433321.html

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Closing Bell

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Nifty above 10,900, Sensex gains 250 points; IT stocks trade higher

Market Opens: Benchmark indices started the day on positive note with Nifty is trading above 10,900 level.

The Sensex is up 201.85 points at 36396.95, while Nifty is up 59.60 points at 10909.40. About 445 shares have advanced, 240 shares declined, and 35 shares are unchanged.

Yes Bank gained 10 percent in early trade on appointment of Ravneet Gill as new MD & CEO. UPL, Bharti Infratel, Sun Pharma, Bhrati Airtel, RIL, Axis Bank, TCS are other mojor gainers, while ICICI Bank and HDFC Bank are trading lower.

Rupee Opens: The Indian rupee opened higher at 71 per dollar on Friday against previous close 71.07.

Source: https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sgx-nifty-indicates-gap-up-opening-for-indian-indices-3433321.html

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MCX Support and Resistance Level

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