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Kotak Mahindra Bank Q3 review: Should you buy, sell or hold the stock? Kotak Mahindra Bank, on Monday, reported a jump of 23% year-on-year in its net profit for December quarter at Rs 1,291 crore. The lender had posted a profit of Rs 1,053 crore during the same quarter of last year. Analysts largely remain positive on Kotak Mahindra Bank’s Q3 performance, but believe that its subsidiaries show was a key negative. They remain upbeat on the banking business. Kotak Mahindra Bank, on Monday, reported a jump of 23 percent year-on-year in its net profit for December quarter at Rs 1,291 crore. The lender had posted a profit of Rs 1,053 crore during the same quarter of last year. The net interest income (NII), the difference between interest earned and expended, grew 23 percent YoY at Rs 2,939 crore from Rs 2,394 crore last year. The net interest margin rose to 4.33 percent from 4.20 percent in the previous quarter. On the asset quality front, gross non-performi...

Market Today Fatafat ET Now: BSE Sensex, NSE Nifty trade marginally lower New Delhi: Indian equity markets pared most of the morning losses in the afternoon deals on Tuesday with BSE Sensex and NSE Nifty hovering marginally lower. The S&P BSE Sensex made an intraday high at 36,226.38 and intraday low at 36,046.52, up until 1:30 pm on Tuesday. Shares of Sun Pharma, Power Grid, M&M, L&T and Vedanta were the major Sensex gainers on Tuesday while shares of Infosys, Yes Bank, Wipro, Hero MotoCorp, HUL and ITC were the major laggards among the components of Sensex. Zee Entertainment share price: Shares of Zee Entertainment Enterprises fell as much as 4.5 per cent on Tuesday after BofAML downgraded Zee to ‘underperform’ with a target price at Rs 375.  Multiple headwinds persist which may see derating risk, BofAML said.  Ashoka Buildcon share price: Shares of Ashoka Buildcon rose 3.3 per cent after Morgan  Stanley committed an investment of Rs ...

HDFC twins, Reliance Industries drag Sensex; Sun Pharma gains 1% Indices opened flat and it slipped later on in the morning session tracking weakness in Asian peers and a surge in crude oil prices. Equity benchmark indices opened flat and slipped later in the morning session tracking weakness in Asian peers and a surge in crude oil prices. Heavy selling pressure was witnessed in HDFC twins, Reliance Industries, Kotak Mahindra Bank, M & Mand NTPC. The Sensex slipped 133 points at 36,108, and the Nifty is down 29 points at 10,855. About 800 shares have advanced, while 707 shares declined, and 534 shares remained unchanged. The BSE MidCap and BSE SmallCap Indices rose over 0.25% each. Shares of Sun Pharma gained 1% on the BSE as the pharma company held a conference call on Monday after market hours over the recent broker report that raised several corporate governance issues. There was also a news that the SEBI is planning to reopen the insider trading probe pert...

Rupee extends losses; trades at 70.96/$ On Monday, the currency depreciated 18 paise to 70.87 against the American currency. The Indian rupee extended its losses for the second consecutive trading session on Tuesday. The domestic currency opened 4 paise down at 70.91 against the American currency vs. its previous close of 70.87 per dollar. On Monday, the currency depreciated by 18 paise to 70.87 against the American unit. Meanwhile, over the past seven days of winning streak, the currency has gained 220 paise against the dollar. The fall is probably on the back of a rebound in crude oil prices. Also, a recent comment from the United States president Donald Trump that his government may opt for further China tariff hikes in the absence of a trade deal may have had an impact. Meanwhile, the 10-year government bond yield stood at 7.747% from its previous close of 7.727%. Bond yields and prices move in opposite directions.   Reference : indiainfoline Must Visit...

Nifty below 10,750 mark; Yes Bank drops 5% All the sectoral indices are trading in the negative zone, PSU bank, IT and metal index slipped by 1% each. Equity benchmark indices opened lower on Tuesday after the central bank agreed to address the center's call to share its surplus reserves. All the sectoral indices are trading in the negative zone, PSU bank, IT and metal index slipped by 1% each.         The Sensex slumped 131 points to 35,643 in the opening trade, while the broader Nifty50 opened below the psychological 10,750 mark. Shares of Yes Bank fell 6% in the morning trade. In a third resignation from the Yes Bank board, independent director R. Chandra shekhar put in his papers, the private sector lender said in regulatory filing on Monday.         Oil marketing companies gained as crude prices slipped. GAIL shares jumped nearly 3%, HPCL was up 2.5%.         The Indian rupee st...

Markets extend rally; ONGC, Tech Mahindra, M&M surge over 3%  All the sectoral indices on the NSE were trading in the green on Tuesday, with PSU Bank gaining over 2.5% and Private Bank over 1%. Equity benchmark indices Sensex and Nifty extended gains in afternoon trade on Tuesday. The Sensex rose 278 points and was trading at 35,121 while the Nifty was trading 65 points higher at 10,587. All the sectoral indices on the NSE were trading in the green on Tuesday, with PSU Bank gaining over 2.5% and Private Bank over 1%. Among stocks, ONGC, Tech Mahindra, and M&M advanced 3%, while SBI, Axis Bank, and ICICI Bank gained over 2% and led the gains in the banking indices. Indiabulls Housing Finance led the losers’ brigade with a decline of ~3%, with Cipla, Eicher Motors, and PowerGrid being the other top losers. Real estate and hospitality company Delta Corp spiked 6% and Federal Bank ~8% after posting their second-quarter results. Both companies have reported num...