Today s big mover.
PTI reports: Shares of ICICI Bank on Monday gained over 6 per cent after the company reported a nearly four-fold jump in its March quarter consolidated profit.
The stock jumped 6.11 per cent to Rs 604.90 on BSE.
On NSE, shares of the company gained 6.23 per cent to Rs 605.50.
ICICI Bank on Saturday reported a nearly four-fold jump in its March quarter consolidated profit to Rs 4,886 crore as against Rs 1,251 crore in the year ago period, and spoke of calibrating growth in the near term given the second wave of COVID-19 infections.
The second largest private sector lender, which reported more than three-fold jump in its standalone net at Rs 4,402 crore, said that things will be better in the next two months and exuded confidence of having a strong balance-sheet to deliver consistent returns.
Oil prices fell more than 1% on Monday on fears that surging COVID-19 cases in India will dent fuel demand in the world s third-biggest oil importer and as investors adjusted positions ahead of a planned increase in OPEC+ output from May. Brent crude fell 72 cents, or 1.1%, to $65.39 a barrel by 0653 GMT, following a 1.1% rise on Friday. U.S. West Texas Intermediate (WTI) crude futures were down 67 cents, or 1.1%, at $61.47 a barrel, after rising 1.2% on Friday. Both benchmark crudes fell about 1% last week. Market sentiment was dented on worries that surging number of COVID-19 cases in some countries, especially in India, will slash fuel demand, Kazuhiko Saito, chief analyst at commodities broker Fujitomi Co.
Oil prices have fallen more than 1 percent on fears that surging COVID-19 cases in India will dent fuel demand in the world’s third-biggest oil importer and as investors prepared for a planned increase in crude output from the world’s top producers in May.
Brent crude fell 72 cents, or 1.1 percent, to $65.39 a barrel by 06:53 GMT on Monday, following a 1.1-percent rise on Friday. US West Texas Intermediate (WTI) crude futures were down 67 cents, or 1.1 percent, at $61.47 a barrel, after rising 1.2 percent on Friday.
Both benchmark crudes fell about 1 percent last week.
“Market sentiment was dented on worries that surging number of COVID-19 cases in some countries, especially in India, will slash fuel demand,” Kazuhiko Saito, chief analyst at commodities broker Fujitomi Co.
Oil Plummets As New Indian Variant Fuels Demand Worries albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.
Reuters Reuters
27 April, 2021, 5:06 am
FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford/File Photo
TOKYO (Reuters) -Oil prices fell on Monday on fears that surging COVID-19 cases in India will drive down fuel demand in the world’s third biggest oil importer and as investors adjusted positions ahead of a planned increase in OPEC+ oil output from May.
Brent crude futures dropped 38 cents, or 0.6%, to $65.73 a barrel by 0507 GMT, following a 1.1% rise on Friday. U.S. West Texas Intermediate (WTI) crude futures were down 31 cents, or 0.5%, at $61.83 a barrel, after rising 1.2% on Friday.