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|Market ends in green, Nifty Midcap Index ends at record closing high; ICICI Bank top loser|
| BT Online |
New Delhi, Thursday, April 20, 2017 | 09:29 IST
YES Bank beats estimates and posted profits of Rs 914.1 crore for March quarter, but net NPAs rose to Rs 1,072.3 crore against Rs 342.5 crore posted during the previous quarter.
However, the shares of the private lender plunged 6.50 per cent to Rs 1,501 after the asset quality of the bank slipped in the results declared yesterday.
RS Software reported a loss at Rs 3.6 crore with a 2 per cent dip in revenue.
Jay Bharat Maruti posted a 72 per cent rise in profit at Rs 21 crore; Revenue up 41.3 per cent on year on year basis.
STOCKS IN FOCUS
Reliance has commissioned the world's largest and most complex ethane project at Dahej
Zee Entertainment reports that it in in advanced talks to buy Silk Routes 9x Media.
DHFL may sell its majority stake in Adhar housing finance.
Godrej Property to raise Rs 1,500 crore by selling office assets to reduce its debt.
Midcaps outperformed on the bourses with the Nifty Midcap ending at record closing highs.
Grasim and Bank of Baroda were Nifty gainers while ICICI Bank and YES Bank dragged the market below.
On the BSE, GAIL, Adani Ports and HDFC Bank raised the market higher while Axis Bank and ICICI Bank were major laggards.
BSE Sensex rises 85.82 points to end at 29,422.39; Nifty settles the day 32.90 points higher to 9,136.40.
Grasim was the top gainer on NSE Nifty, adding over 5 per cent followed by GAIL (up, 2.58 points) and Bank of Baroda (up 2.23 per cent).
YES Bank and ICICI Bank continue to plunge on the NSE Index.
Shares of Yes Bank slumped 6.5 per cent after the company's bad assets swelled in the March quarter.
The stock saw a weak opening and further dropped 6.5 per cent to Rs 1,501 on BSE.
At NSE, shares of the company plunged 5.28 per cent to Rs 1,520.60.
Yes Bank yesterday reported a 30.2 per cent rise in net profit in its Q4 results at Rs 914.12 crore for the last quarter of 2016-17, even as its bad assets swelled.
The private sector lender had registered a standalone net profit of Rs 702.11 crore in the corresponding January-March period of 2015-16.
Total income (standalone) of the bank grew 29.4 per cent to Rs 5,606.38 crore, against Rs 4,331.11 crore in the corresponding period a year ago, the bank said in a regulatory filing.
However, the asset quality of the bank slipped, with gross non-performing assets (NPAs) or bad loans rising to 1.52 per cent of gross advances as on March 31, 2017, as against 0.76 per cent a year ago.
Net NPAs rose to 0.81 per cent of net loans disbursed from 0.29 per cent earlier.
BSE Sensex trade at 29,412.22, climbs 75.65 points (0.26%)
Nifty50 trades at 9,128.40, up 24.90 points (0.27%)
The Sensex is trading at 29,418.80, rising 82.23 points (0.28%)
The Nifty50 is at 9,127.35, up 23.85 points (0.26%)
GAIL is the top gainer on the BSE gaining 4.15 per cent.
Ambuja Cements, up 1.69 per cent.
Adani Ports, up 1.32 per cent.
YES Bank , down 3.77 per cent.
ICICI Bank, 2.51 per cent.
"Going forward, 9130 - 9160 would be seen as a strong intraday resistance zone. At present, one should closely keep a track of the trading range of 9060 - 9160. It's advisable to focus on individual stocks which are likely to offer better trading opportunities," the report added.
ICICI Bank was the top loser on the BSE, down 2.51 per cent as 55.7 lakh shares was trading in the A block.
Sun TV is the stock of the moment, trading 5.5 per cent higher as analysts expect the media house to post profits in their Q4 results.
The BSE Sensex was trading at 29,399.41, 62.84 points higher (0.21%)
The NSE Nifty50 was trading at 9,123.00, up 19.50 points (0.21%)
Sensex, Nifty start on a green note, paring losses from previous sessions.
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