Domestic indices ended with decent gains on Friday amid positive global cues. The Nifty managed to close above the 14,800 mark after slipping below that level in intraday trade. Barring the Nifty PSU Bank index, all sectoral indices on the NSE ended in the green.
As per the provisional closing data, the S&P BSE Sensex, rose 256.71 points or 0.52% to 49,206.27. The Nifty 50 index gained 98.35 points or 0.67% to 14,823.85.
Global stock market advanced as investors welcomed a strong jobs report from the United States that reinforced optimism that the world s top economy is well on the recovery track. The White House s support for a global waiver on patent protections for Covid-19 vaccines also cheered investors.
The country’s largest mortgage lender, HDFC, on Friday reported a 42 per cent YoY rise in standalone net profit at Rs 3,180 crore in the March quarter, beating Street estimates. The profit was aided by a higher net interest income (NII).
This compares with a profit of Rs 2,232.5 crore in the year-ago period (Q4FY20). On a quarterly basis, the profit rose 8.6 per cent, from Rs 2,925.8 crore in Q3FY21.
Housing Development Finance Corporation’s NII was up 14 per cent YoY to Rs 4,065 crore in Q4FY21 while net interest margin was at 3.5 per cent, up 10 basis points (bps) YoY, helped by an 8 bps sequential uptick in non-individual spreads. Inclusive of fees and income from assigned loans, the NII for Q4 was Rs 4,532 crore compared to Rs 3,846 crore in the previous year, representing 18 per cent growth. The lender made provisions of Rs 719 crore in the reporting quarter compared to Rs 1,274 in the year-ago period.
We wish to inform you that at the meeting of the Board of Directors of the Corporation held today i.e., May 7, 2021, the Board approved the audited financial results of the Corporation (both standalone and consolidated) for the year ended March 31, 2021, in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations). We would like to state that the statutory auditors of the Corporation have issued audit reports with unmodified opinion on the financial statements. A copy of the said results along with the Reports issued by the Statutory Auditors of the Corporation with unmodified opinion are enclosed herewith as Annexure A. The same are being uploaded on the website of the Corporation i.e.
World’s Best Banks 2021: Asia-Pacific
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May 04, 2021
For banks in the Asia-Pacific region (APAC), the onslaught of Covid-19 can perhaps best be characterized as an unprecedented externality that has served to expose in stark relief a twin-pronged dynamic of transformation and consolidation that had been in place before the pandemic emerged.
That dynamic gained momentum thanks to brutal economic contraction, shrinking margins, savage competition and crimped return on equity (ROE). It represents a swift acceleration of forces that had been steadily building prior to the pandemic, characterized by rapidly shifting customer expectations and behavior and hammered home at great speed in the face of lockdowns, social distancing and work insecurity.