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<ul><li><keyword id="46717" type="CITY" weightage="20" keywordseo="IndusInd-Bank">IndusInd Bank</keyword> today posted 33% increase in its third quarter net profit to ₹1,309 crore. </li><li>Its net interest income too went up by 34% to ₹3,074 crore from ₹2,288 crore in the comparable quarter. </li><li>The fee income of this bank which has been banking heavily on its retail business, also went up by 22%. </li><li>Its deposits and advances too went up by a robust 22% on an annual comparison.</li></ul>Hindujas owned IndusInd Bank today posted 33% increase in its third quarter net profit to ₹1,309 crore from ₹985 crore in the same quarter last year. Its net interest income or revenues too went up by 34% to ₹3,074 crore from ₹2,288 crore in the comparable quarter. The fee income of this bank which has been banking heavily on its retail business, also went up by 22%. Its deposits and advances too went up by a robust 22% on an annual comparison. “During Q3 FY-20, the Bank witnessed a healthy growth in its topline as well as in operating profits. The Bank also reached a milestone as the Balance Sheet footage crossed ₹ 3 trillion and the advances crossed the ₹2 trillion-mark. PCR (provisioning coverage ratio) has been increased to 53% to strengthen the balance sheet,” said Romesh Sobti, managing director and CEO, IndusInd Bank said. However, the bank’s stock dropped by 2.9% to ₹1,493 as per BSE data at 3 pm. The bank which acquired Bharat Financial in 2017, is banking on its expanded footprint especially in the rural areas to drive growth going ahead. The acquisition turned effective on July last year, allowing the bank to derive full benefits of acquiring the shadow bank. A research note by Nomura says that the acquisition is a moat for the bank. “The asset side franchise has strengthened with BHAFIN, and IIB will undergo a full-fledged extension of the pilots that management believes will enable it to use Bharat Financial’s reach to create a rural touchpoint network that provides significant cross sell opportunity and also improve efficiency in a manpower-intensive MFI business,” said Nomura. The research note also believes that asset side strengths of the bank will be able to offset weaknesses in liabilities. “Bulkiness in liabilities and fees, apart from recent corporate asset quality issues, has been IIB's key weakness. While it is easier said than done, if the bank delivers well on granularizing its liabilities and successfully monetizing rural distribution via BHAFIN, it should drive a sustainable re-rating, in our view,” the note said.

IndusInd Bank stock falls 3.9% as its net profit grows by 33%

Mumbai, Apr 3 () Moody's Investors Service on Friday placed private sector lender Indusind Bank's ratings under review for downgrade and cut its outlook on ICICI Bank, Axis Bank and IDBI Bank by a notch due to asset quality concerns in the current challenging times.The global ratings agency also affirmed the deposit ratings of ICICI Bank, Axis Bank and IDBI Bank.The ongoing COVID-19 crisis is bound to have a major impact on various sectors, including banks, according to experts. The RBI has already moved by offering a three-month moratorium on loan repayments.The review for downgrade of IndusInd's ratings reflects the downside risks to asset quality amid the deteriorating macro environment and financial market volatility, the agency said in a note.The proportion of microfinance and vehicle finance for IndusInd Bank is higher than the peers and these loans have a high risk of getting impacted due to the current stress as they have limited capacities to repay, it said.The bank's funding is also weak when compared to other rated Indian banks, as reflected by its high deposit concentration and low share of retail deposits, the agency said, adding this makes the bank more susceptible to the dislocations in the financial markets, including on wholesale funding sources.Meanwhile, the outlook on Axis Bank and ICICI Bank's ratings has been revised down to negative from stable, while the same for the LIC-run IDBI Bank has been made "stable" from "positive" earlier.The agency attributed that the changes in outlook are driven by potential deterioration in asset quality."The economic shock, resulting from the nationwide lockdown will exacerbate existing negative pressures on asset quality from the already deteriorating operating environment prior to the outbreak," it explained.ICICI Bank and Axis Bank may stand to suffer because of their exposures to the small and medium enterprises, given the fact that such businesses have limited liquidity buffers to withstand difficulties, it said.The rating agency also said that retail loans, especially the unsecured ones like credit cards can also face reverses if the salaries of borrowers suffer as a result of the lockdown.For IDBI Bank, it acknowledged that very low new business origination provides a cushion, but flagged risks from poor loan underwriting standards.The agency has also lowered its assumption of systemic support for ICICI Bank and Axis Bank to 'moderate' from 'high', resulting in a one-notch downgrade of their counterparty risk assessments and local currency counterparty risk rating, it said. AA MKJ

Moody's cuts outlook on Indian banks over asset quality concerns

<ul><li>IndusInd Bank’s provision for losses from IL&amp;FS may be too little too late, according to an analyst. </li><li>The provision for bad loans in the latest quarter should have come at least eight months ago, says Hemindra Hazari. </li></ul> To start with, Mumbai-based IndusInd’s profits fell by 62% in the fourth quarter compared to ₹9.5 billion to ₹3.6 billion. Yet, investors and analysts are happy. Their rationale -- bad loan burden due to its defaulter IL&amp;FS -- was not as bad as expected. Between January and March 2019, the bank made a provision of ₹12.7 billion against its loan to the troubled infrastructure lender, which had failed to pay back what it owes to banks, precipitating a liquidity crisis. A provision is where a bank sets aside some of its money to cover a loan that it believes is unrecoverable. For this, banks have to typically dip into their coffers, a step that can hurt its profits. Half truths But there are some who believe that the amount that IndusInd provisioned for the bad loan to IL&amp;FS, might not cover the extent of the exposure it has to IL&amp;FS. And, that there is an element of truth that may be missing from their statement. For one, it became obvious in September 2018 that IL&amp;FS had turned insolvent, but the full impact of it was not conveyed to analysts in a transparent manner. Added to that, the loan that IndusInd gave IL&amp;Fs is also unsecured, which means there is no collateral that the borrower has offered, which could have helped recover it. IndusInd chose to soften the blow to its investors by making only 13.8% (of the loan) provisioning in the second quarter ending September. It also assured the analysts that it may eventually go up by a further 20-25%. But this quarter ending March 2019, irrespective of the ‘maximum’ guidance it gave, the provision has risen to 70%. “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 ‘<a href="http://hemindrahazari.com/2019/05/27/sell-side-analysts-blind-faith-in-indusind-bank-need-not-blind-investors/">Sell-Side Analysts’</a> Blind Faith in IndusInd Bank Need Not Blind Investors’. Staggering bad news This higher provision, as per an analyst report by Hazari, should have been made at least eight months back, when it had become obvious that IL&amp;FS had turned a toxic loan for every bank involved. “As per RBI norms, an unsecured non-performing loan requires 20-25% provisioning in the first year and requires 100% provisioning by the 366th day of remaining an NPA (non-performing asset),” said Hazari. The bank has not responded to Business Insider’s queries on the issue. In the second quarter analyst call, the managing director of the bank Ramesh Sobti had assured them saying, “So the best case scenario of course is that we don’t even provide this and we write it back and that scenario is equally possible. The scenario is possible that you make have to make another maybe 20 to 25% of this provisioning higher than this, is possible, so both scenarios are possible is the judgment call at this point of time that this is prudential in terms of our exposure.” Credibility of banks Changing stance regularly when a norm is in place usually affects the credibility of the management. Added to that, the bank has had several run-ins with regulators for incorrectly classifying its income. The banking regulator had imposed a <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-imposes-rs-3-crore-penalty-on-indusind-bank/articleshow/62055391.cms">Rs 3 crore fine</a> on IndusInd Bank in 2017 for violating its regulations on non-performing loans and extension of non-fund based limits. And here, the bank isn’t alone. Earlier, Hazari had also called out <a href="https://www.bloomberg.com/opinion/articles/2019-05-15/india-s-yes-bank-getting-a-director-from-rbi-signals-trouble?utm_medium=social&amp;cmpid%3D=socialflow-twitter-view&amp;utm_content=view&amp;utm_source=twitter&amp;utm_campaign=socialflow-organic">Yes Bank </a>and <a href="http://hemindrahazari.com/2017/12/13/wall-of-silence-sell-side-media-response-to-hdfc-banks-divergence/">HDFC Bank</a> both for inflating current profits using a tool called deferred tax asset--which will cause negative impact when it reverses in the following year. IndusInd Bank too had followed the same practice in its fourth quarter results. It is no secret that Indian banks are in trouble thanks to high profile defaults by Kingfisher Airlines head Vijay Mallya and diamantaire Nirav Modi, who have now fled the country. The grounding of Jet Airways and IL&amp;FS crisis is not helping no one. Yet, banks have chosen to provide a ‘feel good’ factor to investors, instead of giving forthright bad news. The <a href="https://www.thehindubusinessline.com/opinion/the-way-ahead-for-dealing-with-npas/article27198338.ece">total NPAs </a>for all scheduled commercial banks for the year 2017-18 stands at Rs 10.4 trillion. And, there is no way of underplaying this amount or an amount higher than this, or delay announcing bad loan news hoping for a better tomorrow. SEE ALSO: <a href="https://www.businessinsider.in/indias-lehman-moment-seems-closer-as-top-mutual-funds-defer-dues/articleshow/68831689.cms">India's 'Lehman moment' seems closer than ever as top mutual funds defer dues to investors</a>

An Indian bank is still making the same mistake of hiding the worst and hoping for the best

<ul><li>The 30-share BSE index was trading 183.86 points higher, and the broader NSE Nifty climbed 49.50 points on Wednesday at 9:45 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>Equity benchmark Sensex surged over 180 points in early trade on Wednesday, tracking gains in IT stocks and ahead of the outcome of the US presidential elections. The 30-share BSE index was trading 183.86 points higher, and the broader NSE Nifty climbed 49.50 points on Wednesday at 9:45 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;">Infosys </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;">UPL </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;">Wipro </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;">Axis Bank </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;">Sun Pharma </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;">Power Grid </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;">Tech Mahindra </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;">ICICI Bank </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;">Hindalco </td></tr></tbody></table>*as of November 4, 9:50 am These are the top stocks in news today. JMC Projects shed 3% post Q2 numbers The shares of JMC Projects shed over 3% during the early trading hours on Wednesday. This comes on back of its performance in the second quarter, where it posted a net loss of ₹18.13 crore. <keyword id="799" type="CITY" weightage="20" keywordseo="PVR">PVR</keyword> leaps over 6% despite weak Q2 numbers The shares of PVR gained over 6% after the company said it got complete rent waiver on lockdown period on 60% of its screens and significant discounts on re-opening. It has also secured permission to re-open 575 out of the total 831 screens. <keyword id="44642" type="CITY" weightage="20" keywordseo="Sun-Pharma">Sun Pharma</keyword> extends gain to the second day The shares of Sun Pharma soared 4% extending gains to the second day after reporting 70.4% year-on-year growth in consolidated profit to ₹1,813 crore for the second quarter ended September 30. <keyword id="895682" type="COMPANY" weightage="20" keywordseo="Adani-Ports">Adani Ports</keyword> trades 3% higher The shares of Adani Ports rose over 3% after the company reported a 31.57% increase in its consolidated profit to ₹1,393.69 crore for the second quarter ended on September 30. Its total consolidated income increased to ₹3,423.16 crore for the second quarter, as against ₹3,326.90 crore in the year-ago period. Ajanta Pharma gains 2% The shares of pharma giant, Ajanta Pharma were up 2% after its board approved the proposal to buyback its fully paid-up 7.35 lakh equity shares at a price of ₹1,850 each for an aggregate consideration not exceeding ₹135.97 crore. <keyword id="46717" type="CITY" weightage="20" keywordseo="IndusInd-Bank">IndusInd Bank</keyword> trades 3% higher after brokerages revise target price The shares of IndusInd Bank gained over 3% after Motilal Oswal and Edelweiss revised their recommendations for the stock. Motilal and Edelweiss both have a ‘buy’ rating with a target price of ₹720. Infosys, <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword>, <keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword>, <keyword id="141968" type="CITY" weightage="20" keywordseo="HCL-Tech">HCL Tech</keyword> rally The shares of Infosys, Wipro, TCS, HCL Tech and other IT stocks rallied as the vote counting for the US presidential election is underway. <a href="https://www.businessinsider.in/stock-market/news/trump-vs-biden-impact-of-us-elections-on-india-sensex-nifty-trade-stock-market/articleshow/79021347.cms">Angel Broking’s analysts also told Business Insider</a> that Biden’s victory would also be extremely positive for the IT sector as the restrictions placed on H1B visas by the Trump administration are likely to be reversed. SEE ALSO: <a href="https://www.businessinsider.in/international/news/us-election-results-date-2020/articleshow/79034082.cms" data-type="tilCustomLink">Here’s when we will know the 2020 US election results</a> <a href="https://www.businessinsider.in/business/corporates/news/ratan-tata-mukesh-ambani-and-uday-kotak-to-be-a-part-of-pm-modis-virtual-global-investor-roundtable-on-thursday/articleshow/79032895.cms" data-type="tilCustomLink">Ratan Tata, Mukesh Ambani and Uday Kotak to be a part of PM Modi's Virtual Global Investor Roundtable on Thursday</a>

Top stock movers — Infosys, Wipro, TCS, HCL Tech, PVR, Sun Pharma, Adani Ports, IndusInd Bank, and others

<keyword id="9292761" type="UNKNOWN" weightage="20" keywordseo="equity-benchmark-sensex">Equity benchmark Sensex</keyword> jumped 195 points on Monday, tracking gains in index-heavyweights Reliance Industries, Infosys and TCS amid largely positive cues from global markets and sustained foreign fund inflows. After touching a record intra-day high of 44,271.15, the 30-share BSE index ended 194.90 points or 0.44 per cent higher at 44,077.15. Similarly, the broader NSE <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> rose 67.40 points or 0.52 per cent to close at 12,926.45. ONGC was the top gainer in the <keyword id="6484188" type="DEFINITION" weightage="20" keywordseo="sensex">Sensex</keyword> pack, surging around 7 per cent, followed by IndusInd Bank, Infosys, Tech Mahindra, Reliance Industries, HCL Tech and TCS. On the other hand, HDFC, ICICI Bank, Axis Bank, SBI and M&amp;M were among the laggards. Indian markets traded on a positive note following positive global cues amid <keyword id="9612741" type="UNKNOWN" weightage="20" keywordseo="covid-19-vaccine-hopes">COVID-19 vaccine hopes</keyword> as more pharma companies announced successful initial trials for their vaccine candidates, said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi. "During the afternoon session the markets pared initial gains and traded marginally positive briefly and scaled back strongly led by buying in IT, pharma and auto shares while banks and financial stocks pared losses for the day," he added. Earlier in the day, the COVID-19 vaccine candidate being developed by Oxford University showed crucial Phase 3 interim results. The ChAdOx1 nCoV-2019, being produced in collaboration with AstraZeneca, was found to be 70.4 per cent effective when combining data from two dosing regimens. Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul ended with significant gains. Stock exchanges in Europe were also trading on a positive note. Meanwhile, Brent crude futures, the global oil benchmark, rose 1.64 per cent to USD 45.81 per barrel. According to traders, persistent foreign fund inflows too buoyed domestic investor sentiment. Foreign institutional investors remained net buyers in the capital market as they purchased shares worth Rs 3,860.78 crore on Friday, according to provisional exchange data. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/indusind-bank-idfc-first-bank-and-jk-bank-stocks-are-soaring-after-rbi-recommendation/articleshow/79363915.cms" data-type="tilCustomLink">IndusInd Bank surges over 4% after RBI committee proposes to increase the cap on promoter stake in private sector banks</a> <a href="https://www.businessinsider.in/tech/apps/news/how-to-earn-money-at-home-from-googles-task-mate/articleshow/79362215.cms" data-type="tilCustomLink">Google is testing ‘Task Mate’ in India, which lets users earn money for doing tasks on their smartphones</a>

Sensex ends 195 points higher; Nifty inches closer to 13,000 for the second time

The US has approved a new type of <keyword id="4537914" type="General" weightage="20" keywordseo="EYE-DROP" source="Orion">eye drop</keyword> which they say could eliminate the need for <keyword id="1116007" type="General" weightage="20" keywordseo="READING-GLASSES" source="Orion">reading glasses</keyword>. The FDA (Food and Drug Administration) recently approved the use of an eye drop designed to improve age-related near-vision, reports Express.co.uk. Called <keyword id="12709964" type="General" weightage="80" keywordseo="vuity" source="Orion">Vuity</keyword>, the drop is applied to each eye once a day and starts working within 15 minutes of application. The makers say each drop lasts for at least six hours. As per the report, the drug is a formulation of a well-known compound known as pilocarpine. The researchers behind Vuity designed it to allow for the eye drop to rapidly adjust to the pH of the tear film. What the drop does is take advantage of the eye's ability to reduce pupil size, improve near-vision whilst maintaining distance vision. The drop has been found to be most effective for those between the ages of 40 and 55. Results have come from two randomised control trials on 750 subjects, the report said. It was during these studies that Vuity was observed to start working within 15 minutes of application. In a positive piece of news, the drops were found to result in no serious side effects. However, some patients experienced mild headaches and eye redness. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/australias-health-minister-warned-that-millions-could-get-covid-19/articleshow/92866659.cms">Australia's Health Minister warned that "millions" could get COVID-19</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mindtree-lampt-infotech-infosys-indusind-bank-and-other-hot-stocks-on-july-14/slidelist/92865161.cms">Mindtree, L&amp;T Infotech, Infosys, IndusInd Bank and other hot stocks on July 14</a>

US approves new eye drop which may eliminate the need for reading glasses

<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>

Top stock movers — Kotak Mahindra Bank, IndusInd Bank, Tata Motors, Nestle India, Tech Mahindra, YES Bank and others

<ul><li>India's benchmark stock indices are set for the best April since 2009.</li><li>However, over half of those gains came in the last week of trading, and a big chunk of it Thursday, April 30. </li><li>At least three out of the top ten weekly gainers, IndusInd Bank, HDFC, and ICICI Bank, were buoyed by hopes that loan defaults in India won't be as bad as previously expected.</li><li>Follow the latest news and highlights on businessinsider.in.</li></ul>India's top ten listed companies together added a whopping ₹3.1 lakh crore to market capitalisation last week. In a week, shortened by a holiday, India's benchmark indices gained over 7%. However, the sharpest rise in percentage terms, among the blue-chip stocks, came from companies outside of the heavyweights like Reliance Industries, Tata Consultancy Services (TCS), and the HDFC twins. American drug maker Gilead’s success in a clinical trial has given the world hope of finding a cure for COVID-19 coronavirus pandemic. That led to an over- 1,000 point rally in the Sensex on Thursday (April 30) morning, in sync with <a href="https://www.businessinsider.in/stock-market/news/dow-soars-530-points-as-coronavirus-treatment-optimism-overshadows-gdp-slump/articleshow/75460930.cms" data-type="tilCustomLink" target="_blank">the optimism around the globe</a>. <div type="Article" hostid="261" msid="75459632" title="Indian-American-led clinical trial of remdesivir in COVID-19 treatment shows positive results" mstype="2" mssubtype="0"></div> The Indian benchmark indices, Sensex and Nifty, have gone up 14% since April 3, but more than half of those gains came in the last week of trading ⁠— at a time when <a href="https://www.businessinsider.in/policy/economy/news/this-is-how-global-economies-are-expected-to-grow-in-the-first-year-after-coronavirus-pandemic/articleshow/75441608.cms" data-type="tilCustomLink" target="_blank">Moody’s slashed India’s growth forecast</a> for calendar year 2020 to 0.2%, from 2.5% it had projected in March, <a href="https://www.businessinsider.in/business/startups/news/udaan-fires-half-its-contract-employees/articleshow/75357229.cms" data-type="tilCustomLink" target="_blank">layoffs continue</a>, earnings from a top lender (<a href="https://www.businessinsider.in/business/corporates/news/axis-bank-q4-earnings-show-bad-loans-ease-but-ceo-amitabh-chaudhry-maintains-caution/articleshow/75429938.cms" data-type="tilCustomLink" target="_blank">Axis Bank</a>) disappointed, and some of the world’s <a href="https://www.businessinsider.in/business/news/sachin-bansal-takes-the-same-line-as-donald-trump-and-elon-musk-let-people-work-and-live-with-coronavirus/articleshow/75453465.cms" data-type="tilCustomLink" target="_blank">most influential billionaires</a> lost their patience with the economic shutdown. Though they had no impact on the market, two of India's most-talented Bollywood stars, <a href="https://www.businessinsider.in/entertainment/news/irrfan-khans-inspiring-journey-from-chandrakanta-to-macbeth-to-a-father-struggling-to-get-his-child-into-a-school/articleshow/75445225.cms" data-type="tilCustomLink" target="_blank">Irrfan Khan</a> and <a href="https://www.businessinsider.in/entertainment/news/rishi-kapoor-passes-away-at-67/articleshow/75464201.cms?upache=2" data-type="tilCustomLink" target="_blank">Rishi Kapoor</a>, passed away making the general mood a lot worse. While the bigger picture looked bleak, there were quiet celebrations happening in different pockets of the Indian share market. At least two out of the top ten weekly gainers, IndusInd Bank and HDFC, were buoyed by hopes that loan defaults in India won't be as bad as previously expected. Here’s a look at the top 10 gainers among the blue-chip stocks this week ending April 30: <table style="width: 461pt;"> </colgroup> <tbody><tr> <td class="xl66" style="height:15.0pt;width:128pt">Stock</td> <td class="xl67" style="border-left-width: initial; border-left-style: none; width: 98pt;">Gains this week</td> <td class="xl68" style="border-left-width: initial; border-left-style: none; width: 235pt;">Trigger</td> </tr> <tr> <td class="xl69" style="height: 30pt; border-top-width: initial; border-top-style: none;">Tata Motors </td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">23.93%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">Jaguar Land Rover has <a href="https://www.livemint.com/auto-news/jaguar-land-rover-recovers-up-to-75-production-in-china-as-demand-returns-11588159987336.html" data-type="tilCustomLink" target="_blank">restored three-fourths of its budgeted production</a> in China </td> </tr> <tr> <td class="xl69" style="height: 45pt; border-top-width: initial; border-top-style: none;">ONGC</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">20.34%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">Raised ₹1,000 crore via commercial papers at a cheap rate of 4.13% per annum. This showed debt market’s strong interest in India’s largest explorer despite an oil crash that has hammered its cash flows, <a href="https://economictimes.indiatimes.com/markets/stocks/news/ongc-issues-cps-worth-rs-1000-crore-at-4-13-interest-rate/articleshow/75416400.cms" data-type="tilCustomLink" target="_blank">the Economic Times reported</a>. </td> </tr> <tr> <td class="xl69" style="height: 45pt; border-top-width: initial; border-top-style: none;">UPL</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">19.76%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">The agrochemical maker said that the business is less affected by COVID crisis because farming continues with push from governments to ensure adequate food supply during lockdown. The company also repaid 30% of its debt in the last 3 months.</td> </tr> <tr> <td class="xl69" style="height: 45pt; border-top-width: initial; border-top-style: none;"><a href="https://economictimes.indiatimes.com/hindalco-industries-ltd/stocks/companyid-13637.cms" data-type="tilCustomLink" target="_blank">Hindalco</a> </td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">17.21%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">The <a href="https://www.businessinsider.in/business/corporates/news/hindalco-novelis-completes-acquisition-of-aleris/articleshow/75151080.cms" data-type="tilCustomLink" target="_blank">Aleris acquisition turned out</a> to be better than expected. Hindalco decided to pay an additoinal $50 million due to the better than expected performance revealed in the latest results. </td> </tr> <tr> <td class="xl69" style="height: 45pt; border-top-width: initial; border-top-style: none;"><a href="https://www.businessinsider.in/business/auto/article/hero-moto-share-price-is-at-a-six-year-but-exports-karizma-and-xtreme-sports-can-help/articleshow/74190134.cms" data-type="tilCustomLink" target="_blank">Hero Motocorp</a></td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">17.05%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">The stock has been on an uptrend since mid April due to a host of reasons including hopes that COVID fears may push people to avoid public transport in the near future but not everyone may be able to afford a car </td> </tr> <tr> <td class="xl69" style="height: 30pt; border-top-width: initial; border-top-style: none;">GAIL India </td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">15.74% </td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">At the start of the week, the stock was down 50% in the last one year and nearly 20 'Buy' recommendations. </td> </tr> <tr> <td class="xl69" style="height: 60pt; border-top-width: initial; border-top-style: none;">Vedanta</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">15.21%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">The rally in Vedanta was part of a larger change in sentiment in favour of metal stocks hoping for a reduction in competition from China.</td></tr><tr><td class="xl69" style="height: 60pt; border-top-width: initial; border-top-style: none;">HDFC </td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">14.96% </td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">The IndusInd Bank experience eases fear of defaults by borrowers of India's largest mortgage lender. </td> </tr> <tr> <td class="xl69" style="height: 45pt; border-top-width: initial; border-top-style: none;">HCL Tech</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">14.58%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">Nomura gave a 'Buy' call on the stock on April 20 with a target price 25% higher. The stock has rallied since and is just ₹25 short of the target. </td> </tr> <tr> <td class="xl71" style="height: 60.75pt; border-top-width: initial; border-top-style: none;">IndusInd Bank</td> <td class="xl72" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">13.82%</td> <td class="xl73" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">Earnings surprise as borrowers continue to <a href="https://www.businessinsider.in/stock-market/news/indusind-bank-shares-skyrocket-by-10-as-its-customers-choose-not-to-defer-paying-off-loans/articleshow/75425195.cms" data-type="tilCustomLink" target="_blank">repay loan instalments</a> </td> </tr></tbody></table>There will be no trading on May 1 on account of Maharashtra Day celebrations. The money did not come from the foreign investors. They continued to be net sellers in the cash market for the fourth straight month. It was domestic institutional investors like mutual funds that bought the most in this rally. “Markets this week rallied from the lows seen in March 2020. After almost a month of lockdown the world over, early signs of easing of the same along with some signs of the flattening of the COVID -19 curve spurred hope of economic activity resuming albeit at a slow pace. Some promise of a possible cure with positive preliminary results of a few drugs also added to hope and optimism," Shibani Sircar Kurian, Executive Vice President, Fund Manager &amp; Head- Equity Research,Kotak Mahindra Asset Management Company said. <div type="image" title="fii dii data" msid="75466705" hostid="261" caption="&amp;lt;p&amp;gt;Foreign investors in Indian share market remain net sellers for the fourth straight month. &amp;lt;/p&amp;gt;"></div> So, what does the road ahead look like? “The Fear Of Missing Out will drive many investors – including myself – off the sidelines," said Nigel Green, founder and chief executive of deVere Group, a global financial advisory firm. “Investor exuberance is contagious. As the markets move steadily higher - unfazed by the recent poor economic data from the peak of the pandemic – it can be expected that the uptick will further sharpen due to that powerful investor sentiment: FOMO," he added. If FOMO drives some of the global investors back to India, the rally may spillover into May. However, investors must also remember that the month of May is usually one where stocks underperform, leading to the widely-known adage "<a href="https://www.investopedia.com/terms/s/sell-in-may-and-go-away.asp" data-type="tilCustomLink" target="_blank">sell in may and go away</a>." Will May 2020 break the trend? SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/indusind-bank-shares-skyrocket-by-10-as-its-customers-choose-not-to-defer-paying-off-loans/articleshow/75425195.cms" data-type="tilCustomLink" target="_blank">IRCTC share price has jumped 30% in April so far despite the lockdown that’s halted trains, ticketing, and even Rail Neer sales</a> <a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-shares-are-rising-ahead-of-earnings-because-every-two-out-of-five-rupees-in-revenue-come-from-telecom/articleshow/75445808.cms" data-type="tilCustomLink" target="_blank">Tech Mahindra shares are rising ahead of earnings because every two out of five rupees in revenue come from telecom⁠</a> <a href="https://www.businessinsider.in/policy/economy/article/a-corporate-lawyer-explains-why-indias-power-companies-cant-get-lower-tax-rate/articleshow/75442365.cms" data-type="tilCustomLink" target="_blank">Lawyers explain why India's power producers can't avail the lower tax rate</a> <a href="https://www.businessinsider.in/stock-market/news/hero-moto-to-tech-mahindra-to-wipro-indias-top-ten-cheapest-stocks-investors-can-buy-now/articleshow/75007066.cms" data-type="tilCustomLink" target="_blank">From Hero Moto to Tech Mahindra to Wipro ⁠— ten of India’s cheapest stocks that you could buy for bargain now</a>

India's blue-chip indices see a dizzying rally this week⁠— these are the top ten gainers and what pumped them up

<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 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>

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