{
}
The Indian equity market continues to struggle, with the Nifty index poised for its fourth consecutive week of losses, closing slightly below the 24,400 mark. Weak earnings reports and ongoing foreign institutional investor sell-offs have contributed to this downward trend. Key stocks to watch include ITC and IndusInd Bank following their Q2 earnings, along with Coal India, JSW Steel, Indigo, BPCL, BOB, HPCL, and Shriram Finance.
On Friday, several stocks are in focus, including ITC, IndusInd Bank, NTPC, Oracle Financial, Shriram Properties, IXIGO, Dixon Tech, and Cyient. The market is buzzing with news of significant investments, major deals, quarterly earnings, and key appointments that could impact trading activities.
IndusInd Bank reported increased provisions due to a one-time profit impact, with micro-finance loans now comprising 9% of its loan portfolio. The gross non-performing assets (NPAs) in the MFI segment rose to 6.5% in Q2FY25, contributing to an overall gross NPA ratio increase to 2.76%. This reflects widespread stress across the bank's lending portfolio.
IndusInd Bank's Q2 FY25 net profit plummeted 40% year-on-year to Rs 1,331 crore, significantly missing analyst expectations due to a near doubling of loan loss provisions and rising operating expenses. The bank's net interest income grew 5% to Rs 5,347 crore, below forecasts, while net interest margin declined to 4.08%. Provisions and contingencies surged to Rs 1,820 crore, up 87% from the previous year.
Piramal Pharma reported a significant increase in consolidated net profit, rising over four-fold to Rs 23 crore for Q2 FY25, compared to Rs 5 crore in the same quarter last year. Revenue from operations also saw growth, reaching Rs 2,242 crore, up from Rs 1,911 crore year-on-year.
The Indian equity market faced a third consecutive day of losses, with the Nifty closing below 24,500 and struggling against key resistance levels at 24,550 and 24,700. Immediate support is seen in the 24,400-24,350 range, and a break below could lead to levels around 24,200-24,000. Global cues are subdued, and attention is on HUL following disappointing volume growth, along with key earnings reports from ITC, IndusInd Bank, and NTPC.
On Thursday, stocks such as HUL, Escorts Kubota, NLC India, Nuvoco Vistas, AU SFB, VIP Industries, Thyrocare, and Dr. Lal PathLabs will be in focus. Additionally, ITC, IndusInd Bank, NTPC, ACC, JSW Energy, and several others are set to announce their quarterly earnings on October 24.
IndusInd Bank is expected to report a modest performance for Q2FY25, with net interest income projected to rise by 9% YoY to Rs 5,533 crore and profit-after-tax anticipated to grow by 4% YoY to Rs 2,207 crore. Analysts indicate that rising deposit costs will outpace advances yield, leading to a potential moderation in margins. The bank's Q2 results will be released on October 24, 2024.
IndusInd Bank Limited
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Nifty faces fourth consecutive week of losses amid weak earnings and selloff
Indian Rupee
Hpcl LNG Ltd.
Shriram Finance Limited
JSW Steel Limited
Indigo 005
BOB
ITC Limited
Bpcl EPF Trust
Coal India Limited
IndusInd Bank Limited
IND
Nandita Khemka
Siddarth Bhamre
Raja Venkatraman
Show more
05:31 25.10.2024
stocks to watch today itc indusind bank ntpc and more
Oracle Financial
ITC Limited
IndusInd Bank Limited
Dixon Technologies (India) Ltd.
NTPC Limited
IND
Show more
23:47 24.10.2024
IndusInd Bank reports rising provisions amid worsening micro-finance asset quality
15:32 24.10.2024
IndusInd Bank reports 40 percent drop in Q2 net profit to 1331 crore
12:11 24.10.2024
piramal pharma reports significant profit growth in second quarter results
07:01 24.10.2024
Nifty struggles to maintain support as market faces third consecutive loss
05:17 24.10.2024
stocks to watch as quarterly earnings are announced on october 24
23:04 23.10.2024
indusind bank expects modest q2 growth amid rising deposit costs
17:05 22.10.2024
Trending
Subcategory
Corporate News
Industry Trends
Central Banks and Digital Currencies
Cryptocurrency Trends
Fintech Startups
Industry Mergers & Acquisitions
Startups & Entrepreneurship
AI Innovations
Emerging Startups
Funding Rounds & Investments
Countries:
Companies:
Tencent Music Entertainment Group
Sony Music Entertainment COMPANY
Alphabet Inc.
Microsoft Corporation Corp.
Oracle Corporation
Softbank Group Corp.
Currencies:
People: