Oct 5 (Reuters) - Indian shares fell on Wednesday, heading for their first drop in four sessions, as investors booked profits in recent outperformers such as ICICI Bank Ltd and HDFC Bank Ltd after the central bank cut rates on Tuesday.
The Toronto-Dominion Bank (TD), also known as TD Bank, announced its fiscal second-quarter 2016 (ended Apr 30) adjusted earnings of C$1.20 per share, which were up 5% year over year.
Credit Suisse reported dismal first-quarter 2016 results. Net loss attributable to shareholders came in at CHF 302 million, which is a significant deterioration from net income recorded in the year-ago quarter.
Will Barclays be able to return to profitability this earnings season? Or will it succumb to revenue pressure amid a challenging industry backdrop?
TD Bank's (TD) adjusted earnings of C$1.18 per share were up 5% year over year. Also, adjusted net income rose 6% year over year to C$2.25 billion ($1.64 billion).
Driven by strong top-line performance, Brazil's Itau Unibanco Holding S.A. (ITUB) reported fourth-quarter 2015 recurring earnings of R$5.8 billion ($1.5 billion), up 1.8% year over year.
ICICI Bank (IBN) was down nearly 7% on NYSE following the release of third-quarter fiscal 2016 (ended Dec 31) results due to concerns over deteriorating asset quality.
With India's postal department receiving the Reserve Bank's nod to set up non-lending payments banks, the UK-based Barclays (BCS) seems interested in forming a partnership with the former with an aim to broaden its customer base.
ICICI Bank Ltd.'s (IBN) second-quarter fiscal 2016 (ended Sep30) net profit came in at INR30.30 billion ($462 million), up 12% year over year.
Aditya Puri built HDFC Bank into not only one of the best banks in India, but also one of the best companies in Asia. Here's how he did it.
India stocks were higher after the close on Friday, as gains in the Banking, Capital Goods and Fast Moving Consumer Goods sectors led shares higher. At the close in NSE, the S&P CNX Nifty gained 0.47% to hit a new 1-month high, while the BSE Sensex 30 index climbed 0.53%. The best performers of the session on the S&P CNX Nifty were IndusInd Bank Ltd. (NSE:INBK), which rose 2.73% or 23.75 points to trade at 893.50 at the close. Meanwhile, Housing Development Finance Corp. (NSE:HDFC) added 2.40% or 30.85 points to end at 1316.05 and Hero MotoCorp Limited (NSE:HROM) was up 1.91% or 48.35 points to 2576.65 in late trade. The worst performers of the session were Vedanta Ltd (NSE:VDAN), which fell 1.73% or 3.00 points to trade at 170.55 at the close. Cairn India Limited (NSE:CAIL) declined 1.61% or 3.00 points to end at 183.20 and Tech Mahindra Limited (NSE:TEML) was down 1.61% or 7.70 points to 471.60. The top performers on the BSE Sensex 30 were Housing Development Finance Corp. (BO:HDFC) which rose 2.53% to 1316.05, Hero MotoCorp Limited (BO:HROM) which was up 1.77% to settle at 2577.80 and HDFC Bank Ltd. (BO:HDBK) which gained 1.61% to close at 1074.45. The worst performers were Vedanta Ltd (BO:VDAN) which was down 1.93% to 170.65 in late trade, Coal India Limited (BO:COAL) which lost 1.63% to settle at 417.15 and TATA STEEL LIMITED (BO:TISC) which was down 1.13% to 300.95 at the close. Rising stocks outnumbered declining ones on the India National Stock Exchange by 743 to 696 and 7 ended unchanged; on the Bombay Stock Exchange, 402 fell and 350 advanced, while 2 ended unchanged. Shares in Vedanta Ltd (NSE:VDAN) fell to 52-week lows; falling 1.73% or 3.00 to 170.55. Shares in Tech Mahindra Limited (NSE:TEML) fell to 52-week lows; falling 1.61% or 7.70 to 471.60. Shares in Vedanta Ltd (BO:VDAN) fell to 52-week lows; down 1.93% or 3.35 to 170.65. The India Vix, which measures the implied volatility of S&P CNX Nifty options, was up 4.80% to 16.3050. Gold for August delivery was up 0.36% or 4.20 to $1167.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 0.56% or 0.32 to hit $56.61 a barrel, while the August Brent oil contract fell 0.61% or 0.38 to trade at $61.69 a barrel. USD/INR was up 0.25% to 63.456, while EUR/INR rose 0.48% to 70.4980. The US Dollar Index was down 0.18% at 96.11.
Recent Modi diplomatic visit to China put this ETF in focus
The benchmark BSE index gains 0.29 percent and the broader NSE index rises 0.52 percent after clarifications by senior finance ministry officials Wednesday on recent concerns over the government's taxation policies soothed nerves. Bank stocks were among the leaders on the Nifty list ahead of HDFC Bank's results.
India-based ICICI Bank Ltd. (IBN) is mulling over the sale of a minor stake in its insurance arm, ICICI Prudential Life Insurance Co.
TD Bank (TD) reported its fiscal first-quarter 2015 adjusted earnings of C$1.12 per share, which compared favorably with C$1.06 earned in the prior-year quarter.
Крупнейший банк Индии по размеру активов State Bank of India (SBI) намерен продать акции на сумму около 125 млрд рупий ($2 млрд), сообщило агентство Bloomberg со ссылкой на свои источники. В качестве консультантов SBI принял Bank of America Corp., Citigroup Inc. и Goldman Sachs Group Inc. Кроме того, организаторами планируемого размещения выбраны Axis Bank Ltd., Barclays Plc, ICICI Securities Ltd., JM Financial Ltd., Kotak Mahindra Bank Ltd. и SBI Capital Markets Ltd. При этом банк пока не получил разрешения от правительства Индии на продажу своих акций. Благодаря привлечению средств банк намерен улучшить качество своего капитала в условиях роста доли "плохих" кредитов и снижения рентабельности. SBI является госбанком, история которого прослеживается с 1806 г. Ранее стало известно, что крупнейший банк Индии по рыночной стоимости HDFC Bank Ltd. намерен привлечь около $1,5 млрд от размещения акций в США и Индии. Финансовая организация планирует разместить 22 млн американских депозитарных расписок (ADR) на сумму $1,2 млрд. Благодаря средствам, полученным от размещения акций, HDFC сможет улучшить показатель адекватности капитала и увеличить объемы кредитования.