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Net interest income is expected to be more than 12 percent year-on-year with slowing down loan growth to around 5-6 percent YoY, but deposits growth could be around 18-20 percent YoY. The country's second largest private sector lender, ICICI Bank, on October 31, is expected to report significant year-on-year growth in September quarter profit due to low base in the year-ago period. In Q2FY20, profit was affected by deferred tax assets hit following change in corporate tax rate by the government. Profit is likely to be in the wide range of Rs 3,000-4,000 crore against Rs 655 crore in same period last year. Provisions may remain elevated on year-on-year basis, but the sequentially may decline as the bank already made high contingent provisions for likely COVID-19 related defaults. Net interest income is expected to be more than 12 percent year-on-year with slowing down loan growth to around 5-6 percent YoY, but deposits growth could be around 18-20 percent YoY. "We expec...

In the half year ended September 2020, its profit more than doubled to Rs 60 crore compared to Rs 26 crore YoY and revenue grew by 54.5 percent to Rs 658.9 crore YoY. Route Mobile shares have rallied 24.5 percent in three consecutive sessions and have touched a record high of Rs 990 on October 29 boosted by robust earnings performance. The stock has given multibagger return of 180 percent from its issue price of Rs 350 per share, to all IPO investors, if they still hold allotted shares. It listed with 105 percent premium on September 21. The cloud communication platform provider has reported a whopping 158 percent year-on-year growth in Q2FY21 profit at Rs 32.9 crore and registered a 77.7 percent YoY rise in revenue at Rs 349.3 crore in the quarter. "Q2FY21 has been another quarter of strong performance, backed by better operating leverage, despite the trying circumstances. The pandemic has accelerated CPaaS adoption amongst enterprises, and Route Mobile continues to enabl...

SRF is in a steady uptrend with price taking support at rising trendline and a horizontal support zone. The appearance of a bullish engulfing pattern at the support zone offers a good trade.     SRF is in a steady uptrend as we see a pattern of higher highs and higher lows. Price is currently taking support at rising trendline and a horizontal support zone of Rs 4350-4300. Note the support offered by rising moving average. The price action is clearly bullish. The appearance of a bullish engulfing pattern right in the support zone means that the buyers are active in this counter. Buy around Rs 4450-4440 for a rally to Rs 4530 and above that to Rs 4610. Keep a stop below Rs 4350. Hold this trade for 3-5 days. Disclaimer:   Investment in securities markets are subject to Market Risk. Consult your financial advisor before any investments.

Nifty closed at a 3-week low at 11,671 on October 29 and the breakdown of the 50-day average at 11,540 would accelerate the second round of profit-booking, pushing the index lower to 11,200. Here are two buy and one sell calls for the next 3-4 weeks: ICICI Prudential Life Insurance | Buy | LTP: Rs 408.90 | Target price: Rs 465 | Stop loss: Rs 378 | Upside: 14% The stock has completed its corrective action from the recent high of Rs 487, completing its 25.2 percent retracement of the previous up-move from Rs 226 to Rs 487. Weekly RSI has also reversed upwards from the lower range and 13-week corrective action confirms the reversal from the current levels. Multiple support levels in the range of Rs 378-385 would protect the stock and they offer a good risk-reward ratio from the current levels. Siemens | Buy | LTP: Rs 1,285.35 | Target price: Rs 1,430 | Stop loss: Rs 1,210 | Upside: 11% The stock has closed at an 8-week high and its key technical indicators on the short-term...

EBITDAR came at 408.5 crore, up 59.3 percent YoY from Rs 256.4 crore. CNBC-TV18 poll's estimate for EBITDAR was Rs 511 crore loss. Airline company  InterGlobe Aviation  (IndiGo) on October 29 said its loss widened to Rs 1,194.8 crore in Q2 FY21, higher than the loss of Rs 1,062 crore posted in the corresponding quarter of the previous financial year. However, the number was better-than-expected as a CNBC-TV18 poll had estimated the loss to the tune of Rs 1,897 crore. It helped that the company's total expenses fell 55.9 percent YoY to Rs 4,224.1 crore in Q2FY21 from Rs 9,571.6 crore in Q2FY20. The company's revenue for the said quarter came at Rs 2,741 crore against Rs 8,105.2 crore. This, too, was above the CNBC-TV18 poll of Rs 2,678 crore. EBITDAR, or earnings before interest, tax, depreciation, amortisation and rent, came at 408.5 crore, up 59.3 percent YoY from Rs 256.4 crore. CNBC-TV18 poll's estimate for EBITDAR was Rs 511 crore loss. EBITDAR margin stood at 14.9 ...

PMS schemes that gave more than 50 percent return include Nine River Capital’s AURUM Smallcap theme that delivered nearly 95 percent return in the last six months. When India was grappling with lockdown to avoid the spread of COVID-19, portfolio managers used the dip in March to stay with possible winners of the ‘Unlock’ scenario in the small & midcap space.     Indian market might have rallied by about 30 percent in the first six months of the current financial year, but as many as 80 Portfolio Management Schemes (PMSes) outperformed the index and 20 of them rose 50-100% in the same period, according to data from PMSBazaar.com.     PMS schemes that gave more than 50 percent return include Nine River Capital’s AURUM Smallcap theme that delivered nearly 95 percent return in the last six months. Top holdings include stocks like Intellect Design, Poly Medicure, CDSL, Astra Microwave and Alkyl Amines Chemicals.     Aurum Small cap o...

International revenue during the quarter at Rs 12,148 crore constituted 39 percent of the total revenue. Larsen & Toubro, the engineering and infrastructure major, reported consolidated profit at Rs 5,520.3 crore in Q2FY21, a jump of 118 percent compared to the year-ago period due to the divestment of electrical and automation business to Schneider Electric, France. Profit before exceptional item stood at Rs 1,410.3 crore for the quarter, falling 44.7 percent compared to Rs 2,551.67 crore in same period last year, but better than CNBC-TV18 poll estimates which was pegged at Rs 1,230 crore. "The impact of pandemic in terms of lower revenue, higher credit provisions in the financial services business and disruption of the Metro services led to significant fall in profit YoY, but sequentially the profit increased nearly four times reflecting pickup in the business momentum," L&T said. Company recorded consolidated gross revenues of Rs 31,035 crore for the quarter...

On October 27, Airtel reported a consolidated net loss of Rs 763.2 crore for the September quarter of FY21 against a loss of Rs 23,044.90 crore in Q2FY20 and Rs 15,933.1 crore in Q1FY21. Shares of Bharti Airtel surged almost 13 percent in early trade on October 28 after the National Securities Depository (NSDL) increased the company's foreign ownership limits to 100 percent. A day after its posted decent quarterly results, the telecom major's shares saw strong buying interest after the NSDL said "Bharti Airtel has received approval for an increase in FII limit up to 100 percent". According to the NSDL website, the limit was 49 percent and approval for 100 percent foreign limit was pending.  CNBC Awaaz  was the first to report the notification change. Experts say now that Bharti Airtel has been able to obtain the FII limit at 100 percent, MSCI is likely to increase weightage in the company. After MSCI increases weightage, Bharti Airtel shares can see inflows...

HDFC Securities expects around 10 percent YoY loan growth and a marginal improvement in NIMs to drive core earnings (NII) growth of 16 percent YoY. Private sector lender Axis Bank is expected to report a profit in the range of Rs 1,400-2,000 crore during Q2FY21 against a loss of Rs 112.1 crore in the year-ago quarter. The lender is also likely to report a sharp sequential growth in profit to lower provisions. Net interest income (NII), the difference between the interest income from lending activities and the interest paid to depositor, is seen rising more than 15 percent year-on-year with 10 percent loan growth and 11 percent growth in deposits compared to the year-ago period, while pre-provision operating profit may grow in the 6-8 percent range YoY. "We expect loan growth at 10 percent YoY with a greater focus on retail. We expect operating profit to grow at 8 percent YoY led by better cost controls," said Kotak Institutional Equities, which sees profit at Rs 1,...

Company witnessed strong net addition in client base which has grown by 59 percent QoQ to 5,39,567 clients in Q2FY21. Angel Broking shares gained 20 percent intraday on October 27 following the highest-ever quarterly profit reported in Q2FY21. But the stock is yet to cross its issue price of Rs 306 per share. It touched an intraday high of Rs 298.50 and at 11:03 hours IST was trading 16.03 percent higher at Rs 288.50 on the BSE. It listed on bourses on October 5. The retail broking house has reported highest every quarterly profit at Rs 74.47 crore for the quarter ended September 2020, a 47.3 percent sequential growth and the year-on-year increase was 288.3 percent. Consolidated revenue from operations grew by 30 percent quarter-on-quarter to Rs 309.85 in Q2FY21 and the year-on-year increase was 80.4 percent. "With the use of technology we witnessed a multi-fold addition in clients, where 1 out of every 7 incremental demat account is opened with Angel Broking, led by sea...

Net interest income increased 16.8 percent to Rs 3,913.2 crore in the July-September quarter. Kotak Mahindra Bank share price added 5 percent in the early trade on October 27, a day after the private lender reported profit at Rs 2,184.5 crore in the September quarter, a year-on-year growth of 26.7 percent, aided by lower provisions. Net interest income (NII), the difference between interest earned and interest expended, increased 16.8 percent to Rs 3,913.2 crore in the July-September quarter 2020 compared to the corresponding period previous fiscal. Here is what brokerages have to say on Kotak Mahindra Bank: Prabhudas Lilladher Kotak Mahindra Bank delivered a strong 27 percent YoY growth in earnings at Rs 21.8 billion (PLe: Rs14.9bn), which was much above our and consensus estimates, said Prabhudas Lilladher. The strong beat was on the back of (i) continued NII traction of 17% YoY despite loan book flattish QoQ & -4% YoY (ii) recovery in fees (iii) higher treasury inc...

Emkay says the company's India wireless revenues shall rise sequentially, boosted by a 43 lakh increase in data subscribers against the stable data subs in the last quarter. Telecom major Bharti Airtel will announce its September quarter scorecard on October 27 and brokerages expect the company to show some improvement in its numbers. Emkay Global expects Bharti Airtel's net sales to see a 17 percent year-on-year (YoY) growth while EBITDA and EBITDA margin may rise 21.9 percent and 177 bps YoY, respectively, due to coronavirus-related cost-saving in SG&A coming back in the base. The company's India wireless revenues shall rise sequentially, boosted by a 43 lakh increase in data subscribers against the stable data subs in the last quarter, the brokerage said. Emkay expects ARPU to rise 1 percent quarter-on-quarter (QoQ) despite a seasonally weak quarter, accompanied by the return of some voice subscribers in the base. "Data volume shall continue to accrue ...

The company has announced its 23rd series of public issue of secured redeemable non-convertible debentures (NCDs) of the face value of Rs 1,000 each. Shares of Muthoot Finance declined almost 3 percent in intraday trade even as the company revealed its plans of secured non-convertible debentures (NCDs). The company, on October 26, announced its 23rd series of public issue of secured redeemable NCDs of the face value of Rs 1,000 each. In a press release, the company said the issue is with a base issue size of Rs 100 crore with an option to retain oversubscription up to Rs 1,900 crore, aggregating up to a tranche limit of Rs 2,000 crore. "The issue will open on October 27, 2020, and will close on November 20, 2020, with an option to close on such earlier date or an extended date as may be decided by the board of directors or NCD committee," said the media release. "The secured NCDs proposed to be issued under this issue have been rated CRISIL AA/Positive by CRISIL ...