Financials stocks were trading in the negative zone, with the S&P BSE Finance index falling 75.83 points or 0.94% at 8012.52 at 13:48 IST. Among the components of the S&P BSE Finance index, IIFL Finance Ltd (down 4.76%), Bajaj Finserv Ltd (down 3.08%),Arman Financial Services Ltd (down 2.62%),Power Finance Corporation Ltd (down 2.54%),IndusInd Bank Ltd (down 2.31%), were the top losers. Among the other losers were RBL Bank Ltd (down 2.11%), HDFC Bank Ltd (down 2.05%), Housing Development Finance Corporation Ltd (down 2.01%), Indiabulls Housing Finance Ltd (down 1.92%), and Paisalo Digital Ltd (down 1.84%). On the other hand, Indian Overseas Bank (up 20%), Bank of Maharashtra (up 20%), and Bank of India (up 19.77%) moved up.
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HDFC Q3 net profit down 65%
Mumbai |
Updated on
Our Bureau
Housing Development Finance Corporation Ltd (HDFC) reported a 65.05 per cent drop in standalone net profit for the third quarter of the fiscal at ₹2,925.83 crore against ₹8,372.49 crore in the same period last fiscal.
“The profit numbers for the quarter ended December 31, 2020, are not directly comparable.To facilitate a like-for-like comparison, after adjusting for the above, the adjusted profit before tax for the quarter ended December 31, 2020, is ₹3,694 crore, compared to ₹ 2,908 crore in the previous year, reflecting a growth of 27 per cent,” said HDFC in a statement on Tuesday.
The profit numbers are not comparable due to fair value gain consequent to the merger of GRUH with Bandhan Bank of ₹9,020 crore.
Daily Market Commentary - Feb 1, 2021 - Bonanza Portfolio
Posted On:
Mr Vishal Wagh, Research Head
Indian equity benchmarks made a positive start on Monday ahead of Union Budget to be presented by Finance Minister Nirmala Sitharaman later in the day. Markets are trading higher with decent gains in early deals. Buying in Bankex, Oil & Gas and Energy counters are supporting the domestic indices. In the afternoon session, Indian equity benchmarks continued to trade positive, bulls has taken charge on Dalal Street, as investors have given big thumbs up to Budget 2021-22. Both Sensex and Nifty are trading around 48,600 and 14,254 levels.