{
}
The Singapore government has solidified its status as the largest foreign portfolio investor in India, with assets valued at Rs 2.69 lakh crore, surpassing the combined holdings of Norges Bank and Capital Group. This marks a significant increase from Rs 1.29 lakh crore in September 2022, reflecting the rapid growth of its sovereign fund. The Singapore government first claimed the top position in September 2022, narrowly edging out Capital Group, whose assets now lag behind by a substantial margin.
Starting November 1, significant financial regulations will be implemented in India, including SEBI's expanded insider trading norms for mutual funds, which prohibit senior employees from selling holdings based on confidential information. Additionally, the RBI will enforce stricter rules on escrow accounts for NBFC-P2P lending, while ICICI Bank revises credit card terms, prompting cardholders to review changes to avoid extra charges. Pensioners must also submit their Jeevan Pramaan life certificate by the end of November to prevent payment suspensions.
UBS Group reported a third-quarter 2024 net profit of $1.42 billion, a significant recovery from a loss of $715 million a year prior, driven by strong performances across its Global Wealth Management, Asset Management, and Investment Bank divisions. Total revenues rose 5% to $12.3 billion, while operating expenses decreased by 12% to $10.3 billion. The company continues to advance its integration of Credit Suisse, aiming for $13 billion in gross cost savings by the end of 2026.
PL Capital has identified Ambuja Cement, ICICI Bank, and Reliance Industries as top stock picks for the upcoming Diwali season, aligning with the investment strategies for Samvat 2081. Analysts at Prabhudas Lilladher have also recommended ICICI Bank, Reliance Industries, and Bharat Electronics among their preferred investments.
Motilal Oswal Financial Services has identified ICICI Bank, Zomato, L&T, and Five Star Business Finance among its top stock picks for Samvat 2081. Other notable selections include Amber Enterprises, highlighting a diverse investment strategy for the upcoming financial year.
ICICI Bank reported a robust Q2FY25, with net interest income rising 9.5% YoY to INR 200,480 Mn and a profit after tax increasing 14.5% YoY to INR 117,459 Mn. The bank's strong performance in retail and SME segments led to a revised target price of INR 1,500 per share, reflecting a 16% upside, maintaining a "BUY" rating.
The Q2 earnings season is in full swing, with major companies like TCS, HCL Technologies, and Infosys having reported their results. Today, firms including Maruti Suzuki, Adani Enterprises, and Cipla are set to announce their earnings. Notably, Honeywell Automation and Godrej Agrovet reported profit declines of 5.6% and 7.8%, respectively.
ICICI Bank has reported a strong quarter, with core PPoP and PAT exceeding expectations due to improved fees and operational efficiency. The bank's deposit growth of 5.0% QoQ outpaces the industry average, and its asset quality remains robust, leading to a revised target price of Rs 1,640 from Rs 1,520. The recommendation to 'BUY' is reiterated, highlighting the bank's superior performance in provisions and return on assets.
ICICI Bank reported a strong net profit of Rs 11,746 crore for Q2 FY25, driven by healthy loan and deposit growth, particularly in retail advances. Despite a slight moderation in margins, the bank's asset quality remains solid, and credit costs are low, supporting a positive medium-term outlook. Valuations are considered reasonable given the robust return ratios, although they are not inexpensive.
ICICI Bank reported a 14.5% profit increase to ₹11,746 crore, while MacroTech nearly doubled its profit to ₹423 crore. In contrast, Coal India experienced a 22% drop in profit. Other companies highlighted include Bank of Baroda, Shriram Finance, Torrent Pharma, and IndiGo.
ICICI Bank Limited
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Singapore government becomes largest foreign portfolio investor in India
09:59 06.11.2024
Financial regulations update in November impacting insider trading and credit cards
ICICI Bank Limited
IND
SEBI's move
ICICI Bank's revisions
pensioners
fund managers
RBI's regulations
Show more
03:07 31.10.2024
ubs group reports strong q3 earnings amid credit suisse integration progress
Indian Rupee
Euro
United States Dollar
Deutsche Bank Aktiengesellschaft
UBS Group AG
Credit Suisse Group Ltd.
ICICI Bank Limited
CHE
Show more
17:30 30.10.2024
diwali stock picks 2024 ambuja cement icici bank and ril favored
10:42 30.10.2024
diwali stock picks include icici bank zomato and l&t for samvat 2081
09:03 30.10.2024
ICICI Bank reports strong growth and raises target price to 1500
06:12 30.10.2024
Q2 earnings season underway with major companies reporting financial results
Zomato Limited
Biocon Limited
HUL
Havells India Limited
Axis Bank Limited
Tech Mahindra Limited
Bharti Airtel Limited
PVR INOX Limited
Bajaj Auto Limited
V-Mart Retail Limited
Reliance Industries Limited
Cipla Limited
BPCL
The Tata Power Company Limited
TVS Motor Company Limited
ITC
HCL Technologies Limited
Piramal Pharma Limited
Nestlé India Limited
Paytm
Procter and Gamble Hygiene and Health Care
Aditya Birla Capital Limited
Adani Enterprises Limited
Coal India Limited
Marico Limited
Wipro Limited
ICICI Bank Limited
Infosys Limited
Maruti Suzuki India Limited
Dabur India Limited
HDFC Bank Limited
Larsen & Toubro Limited
Apple Inc.
Punjab National Bank
JSW Steel Limited
Tata Consultancy Services Limited
IND
Show more
07:06 29.10.2024
ICICI Bank targets raised to 1640 as earnings quality outperforms peers
06:51 28.10.2024
icici bank reports strong q2 fy25 earnings amid sector challenges
06:41 28.10.2024
Earnings Highlights ICICI Bank Coal India Bank of Baroda IndiGo October Update
04:56 28.10.2024
Trending
Subcategory
Countries:
Companies:
Currencies:
People: