ICICI Direct worked out its Q3 (October-December’ 20) earnings estimates for the Banking & Financial Services sector. The brokerage house expects IDFC Bank to report net profit at Rs. 135.6 crore (up 34.3% quarter-on-quarter). Net Interest Income (NII) is expected to decrease by 3.3 percent Y-o-Y (up 11.8 percent Q-o-Q) to Rs. 2,044 crore, according to ICICI Direct.
Open FlipICICI Direct worked out its Q3 (October-December’ 20) earnings estimates for the Banking & Financial Services sector. The brokerage house expects Bandhan Bank to report net profit at Rs. 755.1 crore up 3.3% year-on-year (down 17.9% quarter-on-quarter). Net Interest Income (NII) is expected to increase by 28.8 percent Y-o-Y (up 3.2 percent Q-o-Q) to Rs. 1,984 crore, according to ICICI Direct.
Open FlipICICI Direct revealed its Q3 (October-December’ 20) earnings estimates for the Banking & Financial Services sector. The brokerage house expects SBI Life Insurance to report net profit at Rs. 390 crore up 0.1% year-on-year (down 4% quarter-on-quarter). Net Interest Income (NII) is expected to increase by 18.2% Y-o-Y (up 8.1% Q-o-Q) to Rs. 13,194 crore, according to ICICI Direct.
Open FlipL&T Technology announced -1.56% fall YoY in Dec-20 quarter consolidated revenues at Rs1,400.70cr. The company reported a fall in top-line revenues across key verticals like Transportation and Plant Engineering. However, revenues from medical devices and telecom & hi-tech were up on a YoY basis, that partially compensated. Consolidated PAT for the Dec-20 quarter was lower by -9.18% at Rs186.90cr.
Open FlipSEBI on Wednesday imposed a total penalty of Rs 25 lakh on two individuals for not complying with its directives to disgorge the unlawful gains made by them. The individuals are Mansoor Rafiq Khanda and Firoz Rafiq Khanda. The individuals were engaged in providing investment advisory services to investors upon the receipt of requisite fees without obtaining registration from the market regulator.
Open FlipThe Employees' Provident Fund Organisation (EPFO) on Wednesday reported that 10.11 lakh net subscribers in November 2020. The pension fund body further added that 6.41 lakh new members have joined EPFO and roughly 3.70 lakh net members exited and then rejoined EPFO, indicating switching of jobs by subscribers within the establishments covered by EPFO.
Open FlipEmkay has revealed its Q3 (October-December’ 20) earnings estimates for the BFSI sector. The brokerage house expects Canara Bank to report net profit at Rs. 184.2 crore down 75.9% year-on-year (down 58.6% quarter-on-quarter). Excerpt: Net Interest Income (NII) is expected to increase by 15.3 percent Y-o-Y (down 2.9 percent Q-o-Q) to Rs. 6,116.5 crore, according to Emkay.
Open FlipEmkay has worked out its Q3 (October-December’ 20) earnings estimates for the BFSI sector. The brokerage house expects Indian Bank to report net profit at Rs. 257.3 crore (down 37.6% quarter-on-quarter). Net Interest Income (NII) is expected to increase by 25.5 percent Y-o-Y (down 0.3 percent Q-o-Q) to Rs. 4,131.1 crore, according to Emkay.
Open FlipBajaj Finserv reported 9.61% growth YoY in Dec-20 quarter consolidated revenues at Rs 15,960.72 crore. The company reported growth across its key verticals of insurance and fee-based business but its lending business saw YoY fall in revenues due to the lockdown. Consolidated Profit after tax (PAT) for the Dec-20 quarter was up 14.6% at Rs 1289.96 crore.
Open FlipPhillips Carbon Black announced flat growth YoY in Dec-20 quarter consolidated revenues at Rs 769.40 cr. The growth was almost flat in both its product segments viz. Carbon Black with 95% market share and power with 5% market share. For the Dec-20 quarter, the consolidated operating profits were up 63.92% at Rs160.46cr. Consolidated PAT for the Dec-20 quarter was up 78.85% at Rs 125.55 cr.
Open FlipSymphony Limited Board of Directors scheduled a meeting on Friday to consider payment of Interim Dividend on equity shares for the financial year 2020-21. . The company has fixed February 2, 2021, as Record Date for payment of interim dividend for the financial year 2020-21, if any, declared by the Board at its meeting to be held on January 22, 2021.
Open FlipIRFC saw an oversubscription on the final day of its fresh issue. The company's IPO opened on January 18. In the Qualified Institutional Buyers category, the company saw an oversubscription of 3.78 times, while the non-institutional segment saw an oversubscription of 2.66 times. And Retail investors oversubscribed to the issue by 3.63 times. The company shares are expected to be listed on Jan 29.
Open FlipInfosys unveiled "Infosys Cortex"- an AI-first, cloud-first customer engagement platform. The platform leverages technology from Genesysalong with Contact Center AI services from Google Cloud and its managed artificial intelligence (AI) and analytics services. Infosys Cortex helps businesses reimagine customer care operations by providing intelligence to aid purposeful customer communication.
Open FlipHavells posted a 74.5% YoY growth in its Q3FY21 consolidated net profit at Rs 350.14 crore. This was on the back of strong growth in its topline, lead by Lloyd, electrical consumer durables and switchgear business. Total income grew by 40% YoY in Q3 to Rs 3,214.24 crore. Meanwhile, Lloyd revenue (known for its air-conditioners) grew by 70.2% YoY to Rs 511.56 crore in the third quarter.
Open FlipTo boost and facilitate "speedy and easy access to funds" to MSMEs sector, YES Bank has introduced YES MSME. Under this initiative, the lender will offer "curated offerings to address both business and individual needs of MSMEs. The bank will enable startups to avail up to Rs 5 crore collateral-free funding by reducing the turnaround time for processing MSME loans.
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