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<ul><li>The share price of <keyword id="46717" type="CITY" weightage="20" keywordseo="IndusInd-Bank">IndusInd Bank</keyword> is up by 10% during mid-morning trade. </li><li>Even though the private sector bank reported a 16% drop in profit, its customers have been paying off their loans despite the option of a moratorium. </li><li>In the short run, analysts believe IndusInd Bank’s performance will be driven by its credit behaviour given that its retail book has a higher proportion of non-salaried customers. </li></ul><keyword id="6265775" type="COMPANY" weightage="20" keywordseo="IndusInd-Bank-share-price">IndusInd Bank share price</keyword> has skyrocketed by 10% after the private sector bank disclosed its earnings on Monday, April 27 — which missed their mark when it comes to profit. Even though profit took a hit and fell by 16%, the bank reported that its deposits have stabilised during the earnings call. <div type="image" title="indusindbank" msid="75425253" hostid="261" caption="&amp;lt;p&amp;gt;IndusInd Bank&amp;#39;s share price increases by 10% in mid-morning trade on April 28&amp;lt;/p&amp;gt;"></div> IndusInd Bank’s provisioning for bad loans was 56.3% higher in the March quarter than a year ago with mostly corporate loans that facing the risk of default. Its net interest margins (NIMs) have increased and most of its customers aren’t deferring payments despite the option of the moratorium, according to the company. “Stabilisation in liability profile and improvement in asset quality are critical parameters expected to drive performance of IIB’s stock price in the post-COVID scenario,” said a report by research analysts at JM Financial Institutional Securities. Yet, the surge the share price does not match up to the previous increase which happened after <a href="https://www.businessinsider.in/stock-market/markets/news/goldman-sach-bought-indusind-shares-after-the-stock-price-nearly-doubled-in-13-trading-sessions/articleshow/75176481.cms">Goldman Sachs bought up 4.1 million</a> of the bank’s shares worth ₹176 crore on April 15. The disclosure led the share price to zoom up to ₹474.7 on April 17. What made the share price jump? The Reserve Bank of India (RBI) has given people the option to defer payments on their loans, but according to IndusInd Bank — its customers aren’t going down that route. During the conference call, the bank said it received 96% of non-vehicle portfolio repayments and 95% of repayments of its vehicle portfolio in March. Even in the micro-finance portfolio, the lender received 99% of repayments. Going forward, the bank expects retail to account for 60% and corporate to account for 40% of its balance sheet by the end of the next financial year. “Bank’s strategy has shifted towards ‘Retailisation of Balance Sheet’ with focus on improving retail deposit franchisee, increase the contribution of non-vehicle retail loans, and increase the proportion of microfinance business,” according to Philip Capital. However, in the short run, analysts believe IndusInd Bank’s performance will be driven by its credit behaviour given that its retail book has a higher proportion of non-salaried customers. See also: <a href="https://www.businessinsider.in/stock-market/markets/news/goldman-sach-bought-indusind-shares-after-the-stock-price-nearly-doubled-in-13-trading-sessions/articleshow/75176481.cms">Goldman Sachs bought IndusInd shares after the stock price nearly doubled in 13 trading sessions</a> <a href="https://www.businessinsider.in/business/news/indusind-bank-q4-net-profit-down-16-pc-at-rs-301-74-cr/articleshow/75408390.cms">IndusInd Bank Q4 net profit down 16 pc at Rs 301.74 cr</a> <a href="https://www.businessinsider.in/business/news/indusind-bank-shares-zoom-nearly-14-pc-after-q4-earnings/articleshow/75422017.cms">IndusInd Bank shares zoom nearly 14 pc after Q4 earnings</a>

IndusInd Bank shares skyrocket by 10% as its customers choose not to defer paying off loans

<ul><li>This is another case of a marquee private bank in India falling from grace amidst rising bad loans. </li><li>IndusInd Bank slumped over 7% after UBS downgraded stock to ‘Sell’ </li><li>The global investment bank said the credit risks are higher than expectations.</li></ul> The shares of IndusInd Bank slipped by over 7% at one point on Thursday after global investment bank UBS downgraded its stock to ‘sell’ and said that the credit risks may be more than twice as high compared to the company’s guidance. “The downside risk to IndusInd Bank’s earnings exists as believe credit costs could be higher at 150 basis points as compared to the company’s guidance of 65 basis points in 2019-20,” UBS said in its report on June 12. Business Insider <a href="https://www.businessinsider.in/indusind-bank-bad-loan-impact-from-ilfs-crisis/articleshow/69557477.cms">reported on May 31</a> that IndusInd Bank had made the same mistake as many other Indian banks trying to downplay the worst of its problems. What’s worse, according to UBS, there could be surprises. “Retail deposits, as a percentage of external liabilities for IndusInd is the lowest among banks in our coverage, at around 20%, which is a structural issue, in our view, and often manifests in credit quality surprises,” UBS said. Simply put, when compared to its peers, the bank has far fewer individual deposits to make up for any more loans that may turn sour in the days to come. The stock which is trading at a price close to its 52-week lows after the recent quarterly earnings showed that the bank’s net profit fell 62% to ₹3.6 billion. Moreover, the bank made a provision of ₹12.7 billion against its loan to the troubled infrastructure lender IL&amp;FS. A provision is the amount of money a bank sets aside to cover a loan which is unrecoverable. Not only did this amount come<a href="https://www.businessinsider.in/indusind-bank-bad-loan-impact-from-ilfs-crisis/articleshow/69557477.cms"> in too late</a>, but it also is not enough to cover its exposure to IL&amp;FS which turned insolvent last year. The bank had been changing goal posts of its extent of exposure almost every quarter since the crisis unfolded. “They should have told us (analysts) from day one about the provision, and not have guided lower numbers to us,” says Hemindra Hazari, an independent capital markets. He wrote a report on the bank titled ‘ Sell-Side Analysts’ Blind Faith in IndusInd Bank Need Not Blind Investors’. SEE ALSO <a href="https://www.businessinsider.in/indusind-bank-bad-loan-impact-from-ilfs-crisis/articleshow/69557477.cms">An Indian bank is still making the same mistake of hiding the worst and hoping for the best</a>

Investors lose over $600 million in a day in one stock as the management was more optimistic than cautious

Shares of <keyword id="46717" type="CITY" weightage="20" keywordseo="IndusInd-Bank">IndusInd Bank</keyword> continued to fall for second consecutive day on Wednesday and closed nearly 6 per cent lower following a rise in non-performing assets in December quarter. The stock dropped 5.44 per cent to close at Rs 1,400.60 on the BSE. During the day, it tumbled 6 per cent to Rs 1,391.10. On the NSE, it fell 5.57 per cent to close at Rs 1,399.
 It was the worst hit among the 30-share BSE index and Nifty-50 components.
 In the previous trade also, it had fallen 4 per cent.
 On traded volume terms, 4.23 lakh shares were traded on the BSE and over 1.3 crore shares on the NSE during Wednesday.
 In two days, the company's market valuation has eroded by Rs 9,678.58 crore to Rs 97,071.42 crore on the BSE.
 IndusInd Bank on Tuesday posted a 32 per cent rise in net profit to Rs 1,300.20 crore for the December 2019 quarter.
 The bank had registered a profit of Rs 985.03 crore in the year-ago period.
 Its total income during the period under review increased to Rs 9,073.93 crore from Rs 7,232.32 crore in the third quarter of the previous fiscal, IndusInd Bank said in a regulatory filing.
 Gross non-performing assets (NPAs) rose to 2.18 per cent of the total advances at the end of December quarter of the current financial year as against 1.13 per cent by the end of same period a year ago.
 Net NPAs increased to 1.05 per cent in the quarter from 0.59 per cent of the total assets in the year-ago period.

IndusInd Bank shares continue to drop for second consecutive day

<ul><li>The Indian benchmark indices dropped nearly 2% on fears of rising Omicron cases while the market awaits RBI’s monetary policy decision on December 8.</li><li>Sensex fell more than 950 points led by losses in shares of IT stocks, auto stocks.</li><li>IndusInd Bank, <keyword id="8836175" type="General" weightage="20" keywordseo="tata-consumer" source="Orion">Tata Consumer</keyword> Products, Bajaj Finserv, TCS, HCL Tech were the top five losers in Nifty 50.</li></ul>Sudden rise in cases of COVID-19 variant Omicron across India has spooked investors in the market over another lockdown and slowdown in economic activity. Following this, Indian indices -- Sensex and Nifty 50 -- were down nearly 2%. Currently, India has 21 cases of the new variant out of which 17 were detected on December 5. “If this virus quickly spreads in India, then the market will be volatile for the upcoming next two weeks, along with that any further development on the effectiveness of vaccines on [the] new virus [strain] will be key monitorable [sic] for Indian markets,” said Yash Gupta, equity research analyst at Angel One. Here are the top losers on Nifty 50: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers on Nifty 50 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.78% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer Products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.39% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.34% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.24% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.88% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.32% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi’s Laboratories </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.34% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.24% </td></tr></tbody><tbody></tbody></table> At the same time, market participants awaited the Reserve Bank of India’s (RBI) monetary policy outcome on December 8. <a href="https://www.business-standard.com/article/finance/rbi-may-wait-and-watch-say-economists-status-quo-likely-on-all-fronts-121120600021_1.html">Media reports </a>said that RBI may maintain status quo on the repo rate at 4% and the stance being ‘accommodative’. Since the variant was first detected in South Africa, it has spread to more than two dozen countries, including Asian nations like Sri Lanka, India, Japan, Malaysia, Singapore and South Korea. Indian indices were not the only ones fearing the new variant, market sentiment was weak across Asian and the US markets. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian indices and US </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hang Seng (Hong Kong) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.76% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shanghai SE Composite (China) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nikkei 225 (Japan) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.36% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Taiwan TSEC 50 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.05% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sensex </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.66% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nasdaq Composite (close change on Dec 3) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.92% </td></tr></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/mapmyindias-parent-company-ce-info-systems-ipo-will-open-this-week-at-a-price-band-of-1000-1033/articleshow/88118874.cms">MapMyIndia’s ₹1000 crore IPO will open this week at a price band of ₹1,000-₹1,033</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indian-government-is-reportedly-looking-to-regularise-work-from-home-with-a-comprehensive-framework/articleshow/88122325.cms">Indian government is reportedly looking to regularise work from home with a comprehensive framework</a>

Nifty 50 goes below 17,000-mark on rising Omicron cases, fear of lockdown

<ul><li><keyword id="46717" type="CITY" weightage="20" keywordseo="IndusInd-Bank">IndusInd Bank</keyword>’s share price rose by over 2% after plans of US-based hedge fund <keyword id="9536386" type="COMPANY" weightage="20" keywordseo="route-one-investment-company">Route One Investment Company</keyword> to double its stake in the financial institution were filed.</li><li>It currently holds 4.95% but wants to up the ante to 10% equity capital. </li><li>The Reserve Bank of India (RBI) and the bank’s board of directors have approved the acquisition.</li></ul>IndusInd bank’s share price jumped by over 2% in afternoon trade on July 24 after it announced that it will be selling over 5% stake to the US-based hedge fund Route One Investment Company (ROIC). <div type="image" title="IndusInd shareprice" msid="77144148" hostid="261" caption="&amp;lt;p&amp;gt;IndusInd&amp;#39;s share price over the last one week&amp;lt;/p&amp;gt;"></div> ROIC already holds 4.95% stake in IndusInd Bank but is now looking to double up with a 10% buy-in. As per the bank’s current market capitalisation, a 10% stake in IndusInd bank is valued at ₹ 3631.5 crore ($485 million). <div type="Article" hostid="261" msid="77128780" title="Axis Bank finalises Max Life Insurance investment and is closer to raising more funds" mstype="2" mssubtype="0"></div> After getting the Reserve Bank of India approval, which dictates that any acquisition of shareholding rights of 5% has to go through them first, IndusInd back also got the approval from the bank’s board of directors. Fundraising to protect the balance sheet IndusInd Bank, like most banks in the private sector, is currently shoring up capital to cushion against the slew of bad loans that may follow once the Reserve Bank of India’s (RBI) moratorium comes to an end on August 31. Big wigs like the State Bank of India (SBI) and ICICI Bank are doing this through <a href="https://www.businessinsider.in/finance/banks/news/just-like-sbi-icici-bank-has-created-a-cash-cushion-in-case-bad-loans-rise/articleshow/77140214.cms">selling their stake</a> in their insurance arms, which includes ICICI Lombard, ICICI Life Insurance, SBI Life and SBI Card. Loan growth is also expected to take a hit as businesses slow down in the wake of the economic downturn. IndusInd Bank is yet to announce the date for revealing its first-quarter earnings. The bank’s moratorium books and credit quality will be key metrics to assess the impact of the lockdown and slowdown in business may hold for the bank. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/just-like-sbi-icici-bank-has-created-a-cash-cushion-in-case-bad-loans-rise/articleshow/77140214.cms">Just like SBI, ICICI Bank has created a cash cushion in case bad loans rise</a> <a href="https://www.businessinsider.in/finance/news/yes-bank-is-looking-to-raise-10000-crore-through-fpo-with-kotak-securities-axis-capital-and-sbi-capital-reportedly-to-be-key-players/articleshow/76153458.cms">Yes Bank is looking to raise ₹10,000 crore through FPO – with Kotak Securities, Axis Capital, and SBI Capital reportedly to be key players</a>

IndusInd Bank's share price jumps over 2% after US investor plans to double its stake

<ul><li>The first burst of quarterly earnings are out and six large companies HDFC Bank, Reliance Industries, TCS, Wipro, Infosys, and IndusInd Bank have declared their performance.</li><li>While the trend has been positive in all but one case, the management commentary has been negative in three companies.</li><li>HDFC Bank, the latest among the blue-chips to declare its earnings, lost over 3% in share value on Monday.</li></ul> Six companies from the Sensex list -- HDFC Bank, Reliance Industries, TCS, Wipro, Infosys, IndusInd Bank and Yes Bank -- have declared their quarterly earnings so far. <a href="https://www.marketsmojo.com/mojo/resultcorner?RefBse=1" data-type="tilCustomLink" target="_blank">Markets Mojo</a>, a gauge of the market mood on the website of the Bombay Stock Exchange (BSE), shows that the performance of four out of the six stocks are positive, the commentary around the prospects for these companies have turned down in three cases. 
	
	
	
	
	
	
 
 
 
 
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 Banks in a bind HDFC Bank, the latest among the blue-chips to declare its earnings, lost over 3% in share value on Monday. It was not just because the earnings were poor. Yes, the margin shrank a bit and the amount of bad loans rose but it was the pessimism in the management's commentary that did the stock in. “The tone of management commentary may spook the markets. However, it is still one of the best managed banks out there,” Jefferies said in its report. HDFC Bank has reported a 23% growth in revenue and a 21% rise in net profit compared to a year earlier. The rise in bad loans from farmers was offset by a spike in other income. IndusInd Bank, whose reported profit grew 38%, suffered from the fears of a spike in bad loans because of the company's exposure to the infrastructure lending giant IL&amp;FS that has gone bust. The IL&amp;FS crisis has cast a shadow of doubt on the entire financial sector in the country. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 The slump in demand for cars and two-wheelers, the lack of enthusiasm among home buyers, and spiralling consumer demand overall have dented bank earnings overall. Yes Bank's <a href="https://www.businessinsider.in/yes-bank-q1-earnings-report-yes-bank-share-price-q1-earnings-repor/articleshow/70261380.cms" data-type="tilCustomLink" target="_blank">quarterly profit between April and June 2019 fell 91%</a> compared to the same period a year ago, but it was still way better than estimates-- showing the lack of investor confidence. What propped up the stock on Monday were reports of a <a href="https://economictimes.indiatimes.com/markets/stocks/news/yes-bank-shares-rally-7-on-dhfl-deal-buzz/articleshow/70325293.cms" data-type="tilCustomLink" target="_blank">possible fund infusion</a> in the troubled housing finance company DHFL, to which Yes Bank has lent money. 
 
 
 
 
 
 
 
 
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 The elephant in the room The stock of Reliance Industries (RIL), one of India's biggest conglomerates, got a fillip on the first trading day after its earnings. But truly, the investors were just celebrating the fact that <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-industries-profit-grows-6-8-even-as-gross-refining-margin-hits-the-lowest-in-18-quarters/articleshow/70294401.cms" data-type="tilCustomLink" target="_blank">the company's mainstay petrochemicals business</a>was not doing as badly as they had feared. That alone was enough to prop up RIL's share price by over 2% on Monday. The Mukesh Ambani-owned company has seen very good traction in its relatively new businesses like Reliance Jio and Reliance Retail but, as many analysts have pointed out, the core businesses petrochemicals and refining -- which make for the lion's share of the company's gross revenue-- are under threat. "Reduction in heavy crude oil supply post US sanctions, global refining capacity addition this year exceeding expected incremental demand, and slowdown in petchem demand as a result of the US-China spat will weigh on RIL’s refining and petchem business," a HDFC Securities report said. Tech: Tightrope walk India's top-tier software and IT service companies, TCS and Infosys, have had a bittersweet response from investors so far. The slowdown in TCS' revenue and profit were on expected lines, according to the broking house Motilal Oswal. But investors have been driven the stock down since the earnings despite the company <a href="https://www.businessinsider.in/tcs-plans-to-hire-18000-freshers-in-next-3-months/articleshow/70146189.cms" data-type="tilCustomLink" target="_blank">hinting at a double-digit growth</a> for the full year. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 Infosys did not have a standout quarter but the optimism in its outlook had investors upbeat. Infosys had projected a total growth 8.5% to 10% for the full year ending March 2020, which would imply a compounded quarterly growth 1.6% to 1.9%, according to a BOBCAPS research report. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 SEE ALSO: <a href="https://www.businessinsider.in/wipro-profit-growth-beats-tcs-and-infosys/articleshow/70262851.cms" data-type="tilCustomLink" target="_blank">Share buybacks and new deals are keeping the hopes up for Wipro's investors</a>

Six Indian blue-chip companies have declared earnings so far - most of them lack the 'markets mojo'

<ul><li>IndusInd Bank, Tata Motors, Kotak Mahindra Bank, and Bajaj Finance are leading the charts among <keyword id="66115" type="PERSON" weightage="20" keywordseo="Nifty-50">Nifty 50</keyword>’s <keyword id="10324401" type="UNKNOWN" weightage="20" keywordseo="top-10-gainers">top 10 gainers</keyword> in the last three months.</li><li>Interestingly, financial firms account for seven of the top 10 gainers.</li><li>The Supreme Court’s order on standstill of NPA recognition provided a relief rally in financials and, more recently, the RBI panel recommendations came as a boost for NBFC and small finance bank stocks. </li></ul>The bulls are in charge on Dalal Street and the market has seen a record run with the Nifty 50 hitting the 13,000 mark in trade today. The surprising factor is that financials have played a significant role in the rally. Over the last three months, seven of the top ten best performing stocks on the Nifty 50 have been financial companies, with IndusInd Bank leading the charge. While the RBI panel recommendations are one of the reasons behind their strong performance, the others include improving liquidity and credit growth amongst others. <div type="Article" hostid="261" msid="79323107" title="RBI panel proposes recommendations that could redefine private bank ownership" mstype="2" mssubtype="0"></div> <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td colspan="2" style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top 10 gainers on the NIFTY 50 in the last three months: </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies on the NIFTY 50 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% gains in the last three months </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64.70% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">44.62% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">43.66% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">41.88% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">38,89% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39.77% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31.80% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30.11% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28.32% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">27.45% </td></tr></tbody></table>Source: Trendlyne data What drove the banking shares rally in the last three months? The winds were already on the uptake with not enough shares of HDFC Bank, IndusInd Bank and Kotak Mahindra Bank for foreign investors to pick up back in August. This after the London based FTSE Global Index <a href="https://www.businessinsider.in/stock-market/markets/news/there-arent-enough-shares-of-hdfc-bank-indusind-bank-and-kotak-bank-that-foreign-investors-can-buy/articleshow/77798108.cms">chose to no longer list the banks on its indices.</a> The shortage of shares was partly due to the Reserve Bank of India’s (RBI) moratorium that held off the expected onslaught of defaulters when the nationwide lockdown was announced. But, that isn’t what drove the rally in the last three months. A critical change occurred at the end of September when the moratorium technically had expired. The Supreme Court announced a stay on accounts under moratorium from being declared non-performing assets (NPAs) or bad loans. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top private sector banks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% of loans under moratorium </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr></tbody></table>Source: Jefferies This led a rally in the stock markets for two reasons. One, that the banks’ balance sheets will be protected for a little while longer. And, two, because it meant the Supreme Court would be hearing arguments for waiving off the compound interest loans. A verdict it eventually granted just before Diwali. <div type="image" title="Copy of KMB1 (1)" msid="79386169" hostid="261" caption="&amp;lt;p&amp;gt;India&amp;#39;s credit growth over the last three months&amp;lt;/p&amp;gt;"></div> Other factors like HDFC Bank’s denial of allegations by a US-based law firm that filed a class action lawsuit against the bank, fund raising exercises, the shoring up of capital to fend against any bad loans, and the uptake of collections in the second quarter also cast a net of optimism on the banking sector. The more recent rally Over the last two days, one announcement has overshadowed all others — the RBI’s new rules for how private sector banks can be owned. While there are <a href="https://www.businessinsider.in/finance/banks/news/former-rbi-governor-raghuram-rajan-and-viral-acharya-believe-its-a-bad-idea-to-allows-companies-to-own-banks/articleshow/79370513.cms">varying opinions</a> on whether or not large companies and NBFCs should be allowed to own banks, one thing most seem to agree on is that increasing the cap for promoters’ stake from 15% to 26% is a good move. IndusInd Bank’s share price rallied by more than 4% yesterday and opened on high in trade this morning as well. The promoters of the Bank, the Hinduja Group, had expressed its interest to pump in more money. And, if the RBI’s proposed change is accepted, it would be fresh capital infusion for the private sector bank. Uncertainty over what lies ahead The stock market’s rally may paint a rosy picture, but analysts believe that the worst is yet to come. Once the Supreme Court announces its final verdict, the stay on accounts being declared NPA will end and the true situation will reveal itself. The time is also ticking against borrowers who may have dipped into their savings to make payments as the unemployment rate continues to rise. Meanwhile, a storm may be approaching with a second wave of COVID-19 likely to hit the country in winter. Many states have already begun bringing back <a href="https://www.businessinsider.in/india/news/checkout-which-states-have-reimposed-curfews-and-restrictions-again-as-second-covid-19-wave-hits-india/articleshow/79366320.cms">restrictions</a> like night curfews and shutting down markets to limit the spread of the infection. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/elon-musk-surpasses-bill-gates-to-become-the-worlds-second-richest-person-as-teslas-market-cap-inches-closer-to-500-billion/articleshow/79382348.cms">Elon Musk surpasses Bill Gates to become the world’s second-richest person as Tesla’s market cap inches closer to $500 billion</a> <a href="https://www.businessinsider.in/stock-market/news/market-at-record-high-nifty-breaches-13000-future-retail-spicejet-axis-bank-are-the-top-stock-movers-in-trade-today/articleshow/79382052.cms">Market at record high, Nifty hits 13,000 — Here are the top stock movers in trade today</a> <a href="https://www.businessinsider.in/business/startups/news/google-is-reportedly-in-talks-to-acquire-twitter-backed-indian-social-media-startup-sharechat/articleshow/79381248.cms">Google reportedly sets its eyes on Twitter-backed Indian social media startup Sharechat</a>

Seven of the top ten Nifty gainers in the last three months have been financials

<ul><li>At 8:00 am the SGX Nifty was trading flat pointing towards a cautious start for Nifty50. </li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today. </li><li>Check out the latest news and updates on Business Insider. </li></ul>Indian stock market is likely to open on a muted amidst mixed cues from global peers. At 8:00 am the SGX Nifty was trading flat pointing towards a cautious start for Nifty50. Whereas, on Wednesday, US stocks ended higher. Dow Jones Industrial Average increased 1.59%, marking its best single-day rise since July 14. Here’s a list of stocks to watch for in trade on September 3: Future Retail Fitch placed Future Retail on ‘Rating Watch Positive’ after it sold a stake to RIL. It reflects the financial stress in the company, irrespective of the sale decision. “Fitch Ratings has placed Indian retailer Future Retail Limited’s (FRL) Issuer Default Rating (IDR) of ‘C’ and the rating on its USD500 million 5.6% senior secured notes due in 2025 of ‘C’ with a Recovery Rating of ‘RR4’ on Rating Watch Positive,”<a href="https://www.fitchratings.com/research/corporate-finance/fitch-places-future-retail-on-rating-watch-positive-on-sale-to-reliance-02-09-2020"> the company said</a>. The shares of Future retail ended 10% lower yesterday. IndusInd Bank IndusInd Bank in focus on back of fundraising plans. The bank has approved allotment of 47 million shares to marquee investors to raise ₹2,495.79 crore. The Finance Committee of the board of directors at its meeting held on September 2 approved allotment shares of the face value of ₹10 each at a price of ₹524 per share. The shares of IndusInd Bank ended 2.10% higher yesterday. Engineers India Order win boost likely for Engineers India. The company has received an order worth ₹4.48 billion from Gail India for setting up PP plant and pipeline at Uran. The shares of Engineers India ended 1% higher on September 2. Coal India Coal India posted a 55% fall in its net profit, with revenue plummeting nearly 26% in the first quarter ended June 30. The company said its volume was impacted due to less demand as most of the industries were shut during the lockdown. The shares of Coal India ended 2% higher on September 2. Rossari Biotech Plutus Wealth Management, a financial advisory company, based in London, bought nearly 3 lakh shares of the company at ₹773.82 per share. The shares of Rossari Biotech ended 13% higher yesterday. JSW Energy JSW Energy promoter Glebe Trading released 84 lakh pledged shares of the company and the Danta Enterprises pledged 1.04 crore shares. The shares of JSW Energy ended 7% higher yesterday. Vodafone Idea The Vodafone Idea board is due to meet tomorrow (September 4) for considering the fundraising proposal. The shares of Vodafone Idea ended 13% higher yesterday. SpiceJet, IndiGo, GVK and other aviation stocks SpiceJet, Indigo, GVK and other aviation stocks will be in focus today as the India civil aviation ministry has raised domestic flight operations to 60%. The shares of Indigo closed 4% higher, GVK was up 5%, whereas SpiceJet was trading flat yesterday. Tata Motors Tata Motors records 21.6% growth in overall domestic sales led by 154% growth in the passenger vehicle segment. Meanwhile the domestic commercial vehicles segment saw a decline of 28%. The shares of Tata Motors closed 5% higher yesterday. SEE ALSO: <a href="https://www.businessinsider.in/india/news/pm-modi-twitter-account-hacked-heres-what-the-hacker-had-tweeted/articleshow/77902203.cms?upcache=2" data-type="tilCustomLink">Twitter account of PM Modi’s personal website hacked— Here’s what the hacker had tweeted</a> <a href="https://www.businessinsider.in/tech/news/google-is-releasing-data-on-how-people-have-been-searching-for-covid-19-symptoms-in-the-hope-it-will-help-researchers-track-the-virus/articleshow/77894169.cms" data-type="tilCustomLink">Google is releasing data on how people have been searching for COVID-19 symptoms, in the hope it will help researchers track the virus</a>

Top stocks to watch— Future Retail, IndiGo, SpiceJet, Tata Motors, IndusInd Bank, Coal India, Engineers India, Rossari Biotech, Vodafone-Idea and more

<ul><li>At 7:50 am the SGX Nifty was trading 0.92% lower pointing towards a cautious start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/" data-type="tilCustomLink">Check out the latest news and updates on Business Insider</a>. </li></ul>Indian stock market is likely to open on a negative note amidst weak cues from global peers. At 7:50 am the SGX Nifty was trading 0.92% lower pointing towards a red start for Nifty50. On Thursday, US stocks plunged, as a steep sell-off in tech shares dragged down the market. Dow Jones Industrial Average closed 2.78% lower. The Nasdaq Composite Index sank 4.96%. Here’s a list of stocks to watch for in trade on September 4: Vodafone-Idea After news reports surfaced suggesting that Verizon and Amazon may invest over $4 billion in the company, Vodafone Idea clarified to its investors, while it constantly evaluates various opportunities as part of corporate strategy, there is no such proposal currently before its board. The VIL filling came after BSE sought clarification from the company on Thursday over a <a href="https://www.livemint.com/companies/news/amazon-verizon-may-give-voda-idea-lifeline-11599102122521.html">media report </a>suggesting that Verizon and Amazon could invest over $4 billion in Vodafone Idea. The board will also meet today to consider a fundraising proposal. The shares of Vodafone-Idea ended 29.80% higher yesterday. Hindustan Aeronautics Limited State-owned HAL has proposed to offer 5.02 lakh shares to the eligible employees of the company at ₹950.95 per share. The sale of shares will remain open from September 4 to 9. The shares of HAL ended 4% higher on September 3. Infosys IT services major Infosys is all set to acquire US-based product design and development firm Kaleidoscope Innovation for up to $42 million. Kaleidoscope Innovation designs microsurgical instruments, devices used in minimally invasive surgery, drug delivery devices for ophthalmic therapies and user-centric wearables. The shares of Infosys ended 1.21% higher on September 3. ICICI Bank, IndusInd Bank, Axis Bank, SBI and other banking stocks The shares ICICI Bank, IndusInd Bank, Axis Bank, SBI and other Banking stocks might react to the apex court decision today. The Supreme Court of India has adjourned hearing in the loan moratorium case till September 10. The court directed that accounts, which were not declared as non-performing assets till August 31 this year, shall not be declared NPA till further orders. The shares of ICICI Bank, IndusInd Bank, Axis Bank, SBI ended nearly 2% lower on September 3. Future Retail The stock-exchanges revised Future Retail price band from 10% to 5%. The shares of Future Retail closed after hitting a 10% lower circuit in the past two days. The company is also slated to report its first quarterly earnings today. Tata Motors Government-owned Energy Efficiency Services has placed an order to procure 250 electric vehicles from Tata Motors and Hyundai Motor India. Tata Motors will supply 150 Nexon XZ+ electric compact SUVs for the government use. EESL will procure Tata Nexon at ₹14.86 lakh each, ₹13,000 cheaper than its ex-showroom price. The shares of Tata Motors ended nearly 1% higher yesterday. Jubilant Industries Jubilant Industries reported a net loss of ₹3.1 crore in the first quarter ended June 30 as against a profit of ₹9.6 crore in the same quarter last year. The revenue declined to ₹94.3 crore as compared to ₹151.8 crore in the same period last year. The shares of Jubilant Industries ended nearly 3% higher on September 3. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/india-says-border-situation-is-a-direct-result-of-chinese-actions-as-it-repositions-troops-in-ladakh/articleshow/77913259.cms" data-type="tilCustomLink">India says border situation is a ‘direct result’ of Chinese actions as it repositions troops in Ladakh</a> <a href="https://www.businessinsider.in/india/news/delhi-hotels-restaurants-and-clubs-can-serve-liquor-from-september-9/articleshow/77913006.cms" data-type="tilCustomLink">Delhi hotels, restaurants and clubs can serve liquor from September 9</a>

Top stocks to watch— Future Retail, IndusInd Bank, SBI, Vodafone-Idea, Infosys, HAL, Tata Motors, Jubilant Industries and more

<ul><li>The SGX Nifty was trading 0.23% higher at 7:55 am, indicating a higher start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the global markets, the Indian equities are likely to open higher on Monday. The SGX Nifty was trading 0.23% higher at 7:55 am, indicating a positive opening for Nifty50. These are the stocks to watch out for during the trading session on October 26: Future Retail and RIL The Singapore arbitration court ruled in favour of American e-commerce giant Amazon with regard to the Future-RIL deal. The court has directed Kishore Biyani’s led Future Group to not proceed with Mukesh Ambani’s Reliance Retail deal until the outcome of the arbitration process. The shares of Future Retail and RIL ended 4% and 0.24% higher, respectively, on Friday. DHFL According to PTI reports, the committee of creditors (CoC) of debt-ridden DHFL is scheduled to meet today to take a call on four bids received as part of the resolution process for the beleaguered firm. The four bidders include Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-based SC Lowy. The shares of DHFL ended 5% lower on Friday. IndusInd Bank and Kotak Mahindra Bank The Mauritius-based, IndusInd Bank promoter, IndusInd International Holdings Ltd (IIHL) refuted <a href="https://www.cnbctv18.com/finance/indusind-bank-says-report-on-merger-with-kotak-mahindra-bank-is-untrue-and-malicious-7297331.htm">media reports claiming that</a> Kotak Mahindra Bank may take over the bank. The shares of IndusInd Bank and Kotak Mahindra Bank ended 0.3% and 0.5% lower, respectively, on Friday. ICICI Bank The Indian multinational Bank, ICICI Bank has shut its operations in Sri Lanka after getting approval from the Sri Lankan monetary authority. The shares of ICICI Bank ended 0.84% higher on Friday. Vedanta Vedanta on Saturday said its board has approved the first interim dividend of ₹9.50 per share amounting to ₹35 billion. The shares of Vedanta ended flat on Friday. Tata Motors Tata Motors on Friday told investors that it has bagged an order for 6,413 vehicles from Andhra Pradesh State Civil Supplies Corporation. The company said it emerged as the top bidder under the terms and conditions set by the government. The shares of Tata Motors ended 3% higher on Friday. Tech Mahindra Tech Mahindra<a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-q2-maring-expansion-and-acquisitions/articleshow/78827612.cms"> reported a 5% year-on-year drop in its profit to ₹1,065 cror</a>e for the quarter ended September 30. Although the profit was up 9.5% compared to the sequential quarter. The company generated revenue of ₹9,372 crore, up 3.3% year-on-year. The shares of Tech Mahindra ended 1% higher on Friday. Yes Bank The private sector lender, Yes Bank is back in the black after reporting a net profit of ₹129 crore for the second quarter ended September 30. The bank had posted a net loss of ₹600 crore in the corresponding quarter last year. However, the bad loans in Yes Bank’s portfolio remained elevated. The shares of Yes Bank ended 5% higher on Friday. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/the-first-satellite-with-ai-onboard-is-now-in-orbit-and-its-tech-could-completely-change-how-we-respond-to-wildfires/articleshow/78858333.cms" data-type="tilCustomLink">The first satellite with AI onboard is now in orbit, and its tech could completely change how we respond to wildfires</a> <a href="https://www.businessinsider.in/stock-market/news/the-stock-market-has-historically-performed-better-when-the-incumbent-president-wins-reelection-according-to-one-analysis/articleshow/78858968.cms" data-type="tilCustomLink">The stock market has historically performed better when the incumbent president wins reelection, according to one analysis</a>

Top stocks to watch — Future Retail, RIL, IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, Tata Motors, Tech Mahindra, Yes Bank and others

<ul><li>The 30-share BSE index Sensex was down 150 points, and the NSE Nifty was trading 0.40% lower at 9:55 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices opened on a choppy note on Monday, tracking losses in index majors Reliance Industries, ICICI Bank and Tata Steel. The 30-share BSE index Sensex was down 150 points, and the NSE Nifty was trading 0.40% lower at 9:55 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RIL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td></tr></tbody></table>*as of October 26, 10:15 am These are the top stocks in news today. IndusInd Bank soars 3%, Kotak Mahindra Bank trades flat The shares of IndusInd Bank gained over 3% after the bank refuted <a href="https://www.cnbctv18.com/finance/indusind-bank-says-report-on-merger-with-kotak-mahindra-bank-is-untrue-and-malicious-7297331.htm">media reports claiming that</a> Kotak Mahindra Bank is looking at acquiring the bank. The shares of Kotak Mahindra Bank were also trading flat during the early session on Monday. Tech Mahindra slips over 2% The shares of Tech Mahindra shed over 2% after the company <a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-q2-maring-expansion-and-acquisitions/articleshow/78827612.cms">reported a 5% year-on-year drop in its profit to ₹1,065 cror</a>e for the quarter ended September 30. However, the profit was up 9.5% compared to the sequential quarter. The company generated revenue of ₹9,372 crore, up 3.3% year-on-year. Nestle India up 3% post Q2 numbers The shares of Swiss multinational company Nestle’s Indian subsidiary were trading 3% higher after the September quarter result. The company reported a 1.37% year-on-year fall in net profit at ₹587.09 crore for the quarter ended September 30. However, the numbers were better than the<a href="https://economictimes.indiatimes.com/markets/stocks/earnings/nestle-q3-results-net-profit-flat-at-rs-587-cr-beats-estimates-firm-announces-interim-dividend-of-rs-135-per-share/articleshow/78830180.cms"> street’s expectations</a>. YES Bank leaps 5% The shares of YES Bank gained over 5% after the private sector lender reported a net profit of ₹129 crore for the second quarter ended September 30. The bank had posted a net loss of ₹600 crore in the corresponding quarter last year. RIL, Future Retail fall after Singapore-based arbitration panel decision The shares of Reliance Industries and Future Retail <a href="https://www.businessinsider.in/stock-market/news/ril-future-retail-stocks-under-pressure-after-singapore-arbitration-court-rules-in-favour-of-amazon/articleshow/78865963.cms">cracked </a>2% and 6%, respectively, after a Singapore-based single judge arbitration panel asked Future Group to stall its retail business deal with RIL. The decision also moved other Future Group stocks such as — Future Lifestyle Fashions trading 8% lower and Future Enterprises down nearly 5%, among others. Tata Motors shares up 2% The shares of Tata Motors gained over 2% after the company told investors that it had bagged an order for 6,413 vehicles from Andhra Pradesh State Civil Supplies Corporation. The company said it emerged as the top bidder under the terms and conditions set by the government. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/piramal-group-is-ready-for-acquisitions-in-both-pharma-and-financial-services/articleshow/78865009.cms" data-type="tilCustomLink">EXCLUSIVE: Piramal Group is ready for acquisitions in both pharma and financial services</a> <a href="https://www.businessinsider.in/stock-market/news/ril-future-retail-stocks-under-pressure-after-singapore-arbitration-court-rules-in-favour-of-amazon/articleshow/78865963.cms" data-type="tilCustomLink">RIL, Future Retail stocks under pressure after Singapore arbitration court rules in favour of Amazon</a> <a href="https://www.businessinsider.in/tech/news/the-first-satellite-with-ai-onboard-is-now-in-orbit-and-its-tech-could-completely-change-how-we-respond-to-wildfires/articleshow/78858333.cms" data-type="tilCustomLink">The first satellite with AI onboard is now in orbit, and its tech could completely change how we respond to wildfires</a> <a href="https://www.businessinsider.in/stock-market/news/the-stock-market-has-historically-performed-better-when-the-incumbent-president-wins-reelection-according-to-one-analysis/articleshow/78858968.cms" data-type="tilCustomLink">The stock market has historically performed better when the incumbent president wins reelection, according to one analysis</a>

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