ICICI Securities shares jump over 6% after strong Q4 earnings
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Last Updated: Apr 22, 2021, 12:21 PM IST
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Synopsis
ICICI Securities on Wednesday reported an over two-fold increase in PAT to Rs 329 crore for the three months ended March 2021, on account of growth in revenue and improvement in margins.
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NSE
NEW DELHI: Shares of
ICICI Securities jumped 6.5 per cent in morning trade on Thursday after the company reported an over two-fold increase in profit after tax (PAT) for the three months ended March 2021. The stock gained 6.51 per cent to Rs 451.80 on the BSE. At the NSE, it jumped 6.45 per cent to Rs 452.
HDFC Bank even as the company’s profit for the March quarter missed consensus estimate.
The lender on Saturday reported an 18.2 per cent year-on-year rise in net profit at Rs 8,186.5 crore while net interest income was up 12.6 per cent from year-ago level at Rs 17,120.2 crore. CLSA, BoB Caps, Edelweiss, Elara Securities and
ICICI Securities have maintained ‘buy’ rating. Shares of HDFC Bank ended down 0.12 per cent at Rs 1,428.45 on Friday.
Elara said the result was a beat on pre-provision operating profit but a miss on profit after tax level as the bank made unexpected contingency provisions of Rs 1,300 crore. “Contingency provisions are precautionary and not towards any specific stress from the second (Covid-19) wave, said Elara, retaining a ‘buy’ rating on strong growth and asset quality.
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Synopsis
As fundamental factors get priced into stocks faster, it’s been challenging for value investors to find strong businesses at great prices. Even Warren Buffett, who popularised the cigar-butt style of investing, has moved away from it. But value stocks have proved many wrong, delivering superior returns in the last fiscal. Will the rally continue?
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