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IndusInd Bank reported a massive 68.7% year-on-year jump

Written by -

January 19, 2023 3 minutes

Opening Bell:

SGX Nifty is down by 89.0 points in the early morning trade, indicating a negative opening for Indian stock market.

Shares in the Asia-Pacific traded lower on Thursday after tracking losses on Wall Street overnight. The Japanese Nikkei is down by 1.0 percent. Hong Kong’s Hang Seng is down by 0.60 percent and South Korea’s Kospi is up by 0.07 percent in early morning deals.

The S&P 500 and the Dow lost almost 2 percent on Wednesday, their biggest daily drops in more than a month, after weak economic data fuelled recession worries while hawkish comments from Federal Reserve officials soured investor moods further. S&P 500 lost 1.56 percent Nasdaq Composite dropped 1.24 percent.

Stocks News:

?IndusInd Bank reported a massive 68.7% year-on-year jump in standalone profit at Rs 1,959 crore for quarter ended December FY23, as provisions and contingencies fell 36% YoY to Rs 1,065 crore for the quarter.

?Vedanta has been declared as successful bidder for acquisition of Meenakshi Energy under Corporate Insolvency Resolution Process. After the same, board of directors approved the said acquisition worth Rs 1,440 crore.

?United States Food and Drug Administration (US FDA) inspected Aurobindo Pharma’s wholly owned subsidiary, APL Health Care’s Unit I & III, at Jadcherla in Telangana, during January 9 to January 18, 2023. The US health regulator issued a ‘Form 483’ with 2 observations. The observations are procedural in nature.

?SBI has raised Rs 9,718 crore through its second infrastructure bond issuance at coupon rate of 7.70 percent. The proceeds of bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment. The tenor of these bonds is 15 years.

?Foreign institutional investors (FII) have net-sold shares worth Rs 319.23 crore, whereas domestic institutional investors (DII) have net-purchased shares worth Rs 1,225.96 crore on January 18, as per provisional data available on the NSE.

Domestic and International Events

  • US retail sales fell by the most in a year in December, pulled down by declines in purchases of motor vehicles and a range of other goods, putting consumer spending and the overall economy on a weaker growth path heading into 2023.
  • The second straight monthly decrease in retail sales, which are mostly goods, is undercutting production at factories. Manufacturing output recorded its biggest drop in nearly two years in December, while monthly producer prices also tumbled, other data showed on Wednesday.
  • Oil prices fell about 1 percent on Wednesday, surrendering early gains as worries about a possible US recession outweighed optimism that China’s lifting of COVID-19 curbs will fuel demand for crude in the world’s top oil importer.
  • Federal Reserve policymakers on Wednesday signaled they will push on with more interest rate hikes, with several supporting a top policy rate of at least 5 percent even as inflation shows signs of having peaked and economic activity is slowing.

Key Equity Indices

EMERGINGLATEST% 1D
Hang Seng21,6780.5 %
Shanghai Composite3,2240.0 %
DEVELOPEDLATEST% 1D
Dow Jones33,297(1.8) %
DAX15,182(0.0) %
FTSE 1007,831(0.3) %
Nikkei26,7912.5 %
Straits Times3,2900.3 %

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