IDFC First Bank Share Price: IDFC First Bank reported a 73% drop in Q2 standalone net profit to Rs 201 crore, with gross NPA at 1.92%. The CASA ratio stood at 48.9%, and retail deposits comprised 80.4% of total deposits. Brokerage firm Nuvama maintained a ‘Hold’ rating and lowered its target price to Rs 60, citing increased credit costs and deteriorating asset quality in the microfinance segment.
Sugar Cycles: 7-8 years of losses followed by 2-3 years of super gains! (28-10-2024)
These are quantity tenders… prices will be announced by Govt.
There is so much of excess capacity that OMCs have got more offer than required.
Sugar companies will face margin pressure if ethanol prices is not increased – as cane FRP has already been increased. Govt. is encouraging the sugar cane companies to change from cane juice to grains (which is even more loss making !!!)
Maize price may come down marginally in Oct/ Nov due to harvest but will be up again by Dec /Jan). Grain distilleries will be in loss if ethanol price not increased – which is not likely as price has already been increased and is much above cane based ethanol. For many grain distilleries there will be no option than to shut down – they will not be able to compete with dual-feed distilleries of sugar companies.
Ethanol industry is headed for a shake up with many plants shutting down.
FIIs, proprietary traders holding shorts in Nifty at start of expiry week (28-10-2024)
F&O cues for Oct 28: Both FIIs and Proprietary traders hold near about 2 bearish bets in index futures for every bullish trade. In contrast, retail investors hold the opposite position.
Nifty charts hint at recovery, first challenge at 24,350: Anand James (28-10-2024)
Clearly, a sell on rise approach has been visible so far, since the descent from September peak, during which there was hardly any period which witnessed higher highs. Such has been the bearish momentum during this period and all eyes are now on the 200-day SMA at 23372, which is about 3% from current levels.
Shriram Finance shares rally 7% after Q2 profit jumps 18% YoY. Should you buy or sell? (28-10-2024)
Nomura and HSBC maintained ‘Buy’ ratings on Shriram Finance, with target prices of Rs 3,800 and Rs 3,725, respectively. Nomura cites the company’s consistent performance, margin expansion, and improved asset quality. HSBC notes Shriram Finance’s strong Q2 results, highlighting its best operating period since 2010.
Reduce AU Small Finance Bank, target price Rs 590: HDFC Securities (28-10-2024)
HDFC Securities advises a ‘reduce’ call on AU Small Finance Bank with a target price of Rs 590, citing elevated credit costs and medium-term RoA pressure despite strong deposit and loan growth. The bank’s earnings beat estimates due to stable margins and robust deposit growth, but challenges persist in the unsecured portfolio and microfinance segments.
ICICI Bank shares jump 3% after Q2 results. Should you buy, sell or hold? (28-10-2024)
ICICI Bank’s shares jumped 3.14% after the bank posted a 14.5% increase in net profit for the September quarter. Net interest income rose 9.5% year-on-year. Experts maintain a ‘Buy’ rating on the stock, citing robust loan and deposit growth along with strong asset quality performance.