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IBN reported a rise in net interest income and growth in loans and deposits, despite facing higher operating expenses. HSBC's first-quarter pre-tax profit fell 25% to $9.48 billion due to declining revenues and increased credit losses. UBS Group's net profit dipped to $1.69 billion, with total revenues down 1.4% year over year, while the company progresses with the integration of Credit Suisse, achieving significant cost savings.
Reliance Industries' strong earnings, with FY2025 gross revenue of ₹1,071,174 Crore ($125.3 billion) and a profit after tax of ₹81,309 Crore ($9.5 billion), are bolstering large-cap stocks in India, attracting over 92% brokerage recommendations. This financial resilience, alongside robust credit ratings, positions Reliance as a stability play amid market volatility.In contrast, Adani Green Energy faces a challenging recovery after a 50% market cap decline in FY2025, despite maintaining strong operating revenue and net profit margins. Meanwhile, gold prices have surged to $3,431-$3,500 per ounce, driven by significant central bank purchases and a shift in institutional demand patterns, with projections suggesting further increases.
RBI may slow down rate cuts as recent liquidity measures bolster the banking sector, according to BNP Paribas' Santanu Chakrabarti. He anticipates resilient net interest margins despite potential rate declines and projects a 13% credit growth for the year, with top-tier banks like HDFC, ICICI, and Axis Bank poised to benefit from easing funding costs and increased credit demand.
UBS has raised its target price for HDFC Bank shares to INR 2,250, maintaining a Buy recommendation, following the bank's strong quarterly results that exceeded expectations. The bank reported a profit after tax of INR 176.2 billion, driven by a 10% increase in net interest income and improved asset quality, despite a slight decline in net interest margins. Nomura also upgraded its rating to Buy, citing robust deposit growth and stable asset quality, reflecting confidence in HDFC Bank's financial resilience amid economic challenges.
Yatra's Chief Financial Officer, Rohan Mittal, has resigned to pursue new opportunities, as announced during a board meeting on March 12. He submitted his resignation on March 10, with his final working day to be determined through mutual discussions for a smooth transition. Mittal joined Yatra in 2022, previously serving as CFO at Rivigo and AllcargoGATI, and holds an MBA from IIM Lucknow.
In June, the inaugural Asia Economic Summit will facilitate crucial dialogues on regional policies and the economic future. Meanwhile, Amazon is considering launching a standalone payments app in India to compete with Google Pay and PhonePe, leveraging its existing user base. In Qatar, Yuno's entry into the fintech market aligns with the country's ambitions to become a global fintech leader, supported by government initiatives and a growing demand for financial services among expatriates.
UBS has reaffirmed its Buy rating and GBP12.70 price target for Prudential Plc, following the company's potential public listing of its Indian asset management business, IPAMC. With a market cap of $23.7 billion and a current share price of $18.17, analysts see significant upside potential, estimating price targets between $24.52 and $33.51. The listing could unlock value and lead to a 10% increase in earnings per share, while ICICI Bank's commitment to maintaining its majority stake signals confidence in the venture.
UBS has reiterated its Buy rating for Prudential Plc, setting a target price of GBP 12.70, following the company's potential IPO of its Indian asset management business, IPAMC. With a market cap of $23.7 billion and a current trading price of $18.17, analysts see significant upside potential, as Indian asset managers typically command high valuation multiples. The IPO could enhance shareholder value, potentially boosting Prudential's earnings per share by around 10%.
HSBC is set to report its fourth-quarter and full-year 2024 results on February 19, with expectations of increased revenues and earnings year-over-year, driven by strong investment banking and trading revenues. However, higher operating expenses due to market share growth and organizational restructuring may impact overall performance. The consensus estimate for earnings is $1.41 per share, reflecting a 147.4% increase from the previous year, while sales are projected at $15.38 billion, indicating an 18.2% growth.
The BSE Sensex has dropped over 10,000 points, or nearly 12%, from its all-time high, reflecting challenging global and local market conditions. BNP Paribas Securities forecasts a potential 10% upside for the NSE Nifty 50 index by 2025, favoring sectors like private banks, IT, and telecoms, while expressing caution towards pharma and metals. Among its top stock picks, SBI Life Insurance stands out with a projected upside of over 70%.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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