DIRS.INFO The most relevant business & tech news

☆ As India heads to the polls, the pros name 8 top stocks to buy
▼ + stars: | 2024-04-19 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +6 min

"The stars have aligned for India in terms of demographics, population and market movements. Peeyush Mittal, portfolio manager at Matthews Asia, agrees with the consensus that Modi will win a majority once again — which would be a "non-event" for markets. Conrad Saldanha, portfolio manager at the Neuberger Berman Emerging Markets Equity Fund, agrees. Among the companies on his watch are power equipment player Bharat Heavy Electricals and engineering conglomerate Thermax , amid an expected expansion in power generation capacity. According to FactSet data, 24 of the 26 analysts covering the stock have a buy or overweight rating on it.

Persons: Narendra Modi, Neil Bahal, Peeyush Mittal, Modi, Mittal, Conrad Saldanha, Neuberger Berman, Bharat, Neuberger Berman's Saldanha, Saldanha Organizations: South, Bombay Stock Exchange, CNBC Pro, —, Matthews Asia, Reserve Bank of, India Fund, Neuberger, Markets Equity Fund, Cummins India, Investor, Bharat Electronics, ICICI, HDFC, IndusInd Bank, Apollo Locations: Hong Kong, India, Reserve Bank of India, Saldanha

☆ Beyond the U.S.: Investment analyst names markets — and stocks — he’s betting on right now
▼ + stars: | 2024-04-11 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

One investment analyst says he's looking for opportunities outside the U.S. stock market. HDFC Bank In India, the investment analyst is betting on Indian bank HDFC . HDFC Bank recently reported 55.4% year-on-year growth in gross advances for the quarter ended March 31. Shares in the bank are traded in the Nifty India Financials ETF (15.6% weight) and iShares India 50 ETF (11.2%). Shares in the life insurer are traded in the iShares MSCI Hong Kong ETF (20.0% weight) and Franklin FTSE Hong Kong ETF (19.2%).

Persons: we've, Steven Glass, CNBC's, Glass, AIA's Organizations: Sydney, Pella Funds Management, HDFC Bank, India, India Financials, AIA, AIA Group, Hong, Hong Kong ETF, Franklin FTSE, Franklin FTSE Hong Kong ETF Locations: Europe, Pella, Asia, China, India, FactSet, Singapore, Vietnam, Hong Kong, Franklin FTSE Hong

☆ How investors are playing emerging market opportunities in India and Japan
▼ + stars: | 2024-01-24 | by ( Anna Gleason | ) www.cnbc.com time to read: +2 min

Investors are increasingly looking to emerging market exchange-traded funds for growth at a reasonable price. David Mann, head of capital markets at Franklin Templeton, named India as one of the most popular countries with ETF investors in the past year. "[It] has been one of the emerging market standouts thus far, so India has been a great story." The firm's Franklin FTSE India ETF (FLIN) has risen 18.19% in the past year, as of Tuesday's close. As of Tuesday's close, the firm's Franklin FTSE Japan ETF (FLJP) gained 12.58% in the past year.

Persons: David Mann, Franklin Templeton, CNBC's, Mike Akins, Akins, Franklin Templeton's Mann, Action's Akins Organizations: Franklin, Franklin FTSE, Reliance Industries, HDFC Bank, Infosys, Toyota Motor, Sony Group, Mitsubishi UFJ Locations: India, Franklin, Franklin FTSE India, Japan, U.S, Franklin FTSE Japan

☆ As global rates turn, banks in India and Indonesia set to win
▼ + stars: | 2023-11-29 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Loan growth at Asian banks is estimated to rise from 4.5% this year to 10% next year, LSEG data shows, with banks in India and Indonesia leading with 15% and 11% growth, respectively. Ng likes banks in India and Indonesia, given the better economic growth in those economies and ability of banks to sustain margins. LSEG data shows profits at banks in India and Indonesia will grow 13% and 11% respectively next year, nearly double the 6% average rise across Asia-Pacific banks. That compares to price-to-book ratio for MSCI's index for all-country Asian banks (.dMIAS0CB00PUS) of 0.9. Banks in Australia are estimated to see a drop of 5% in profit in 2024 while profits at Singapore banks will be flat.

Persons: Frederic Neumann, Neumann, Morgan, Yao Ng, abrdn, Ng, Vinay Agarwal, Agarwal, Morgan Stanley, Ankur Banerjee, Gaurav Dogra, Patturaja, Vidya Ranganathan, Simon Cameron, Moore Organizations: U.S . Federal, Fed, HSBC, ICICI, Kotak Mahindra Bank, Axis Bank, FSSA Investment Management, Indonesia's Bank Central Asia, BCA, Reuters, Thomson Locations: SINGAPORE, India, Indonesia, Thailand, Asia, Japan, J.P, Pacific, Singapore, Hong Kong, South Korea, Banks, Australia, China, Bengaluru

A man walks past an AVIVA logo outside the company's head office in the city of London March 5, 2009. British life insurer Aviva on Thursday said it was maintaining its dividend, soothing concerns the payout could be cut to conserve capital, and reported annual profits that broadly met forecasts. REUTERS/Stephen Hird/File Photo Acquire Licensing RightsNEW DELHI, Nov 14 (Reuters) - India's tax inspectors searched the office of British insurance giant Aviva's (AV.L) life insurance unit near New Delhi last week and seized documents as part of an investigation into alleged tax evasion, sources familiar with the matter said. In a statement, Aviva Life Insurance, India, told Reuters "we can confirm that GST officials visited our head office site, we are in full cooperation with them." UK's Aviva has a 74% stake in Aviva Life Insurance in India, with the rest owned by India's Dabur Invest Corp. Aviva's life insurance business has a less than 0.5% market share on the basis of first-year premium collections in India.

Persons: Stephen Hird, Asit Rath, Sonali Athalye, UK's, India's Dabur, Aditya Kalra, Sharon Singleton Organizations: AVIVA, Aviva, Goods, Services Tax, Intelligence, Aviva Life Insurance, Reuters, Indian, Companies, Insurance Corporation, Bajaj Allianz, UK's Aviva, India's, India's Dabur Invest Corp, Thomson Locations: London, DELHI, New Delhi, India

☆ India's Axis Bank Q2 profit beats view on robust loan growth
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Oct 25 (Reuters) - India's Axis Bank (AXBK.NS) reported a bigger-than-expected rise in second-quarter profit on Wednesday, helped by strong growth in loans. Loan demand stayed strong as an uptick in consumer spending helped drive retail credit. The bank is seeing strong demand for loans from corporate clients, including for capital spending, it said. Net interest income - the difference between interest earned and interest expended - rose 19% year-over-year to 123.15 billion rupees. The country's top lender HDFC Bank (HDBK.NS) reported a drop in margins earlier this month, while IndusInd Bank (INBK.NS), ICICI Bank (ICBK.NS), and Kotak Mahindra Bank (KTKM.NS) reported second-quarter profit gains.

Persons: Amitabh Chaudhry, Chaudhry, Varun, Mrigank Organizations: Bank, HDFC Bank, IndusInd Bank, ICICI Bank, Kotak Mahindra Bank, Sethuraman, Varun Vyas, Thomson Locations: BENGALURU, Mumbai, Bengaluru

☆ This currency is now the world’s top performer, after rebounding from record lows
▼ + stars: | 2023-10-18 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

A roadside money changer handling Pakistani rupee coins in Karachi, Pakistan. Bloomberg | Bloomberg | Getty ImagesThe Pakistani rupee has rebounded from an all-time low to become the world's top performing currency — and there's still room to strengthen, analysts say. The currency plummeted to a record low of 307 rupees against the greenback in early September, according to data from LSEG. This was largely owed to a government clampdown on a widespread illicit dollar trade. The lofty figure was largely owed to the weakness of Pakistan's currency, reduced domestic fuel and electricity subsidies, and supply chain disruptions, the report said.

Persons: there's, Tahir Abbas Arif Habib, Tahir Abbas, Arif Habib, Abbas, Steve Hanke Organizations: Bloomberg, Getty, PKR, South Korean, Federal Investigation Agency, Pakistan, CNBC, Johns Hopkins University, Bank, World Bank, Johns Hopkins Locations: Karachi, Pakistan, LSEG

☆ Why Pakistan's rupee has soared the most against the US dollar among global currencies
▼ + stars: | 2023-10-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The Pakistani rupee has become the top performer in global currency markets. The currency's strength could bring some relief to Pakistan's inflation, which hit 31.4% year-on-year in September. AdvertisementAdvertisementThe Pakistani rupee has surged to the top of global currency markets, sharply increasing from a record low in early September. The rebound has made the rupee September's top global performer, based on LSEG data cited by CNBC. "Pakistan's rupee was the top performer globally this month as a government crackdown on the illegal dollar trade helped reverse its fortunes," it said.

Persons: — Organizations: Service, CNBC, HDFC Securities, South Korean, Pakistan's Federal Investigation Agency, World Bank Locations: Islamabad

☆ ‘Best performing emerging market’: Analysts name stocks to cash in on India’s boom
▼ + stars: | 2023-10-13 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

"India has been the best performing Emerging Market in terms of USD returns at 8%, surpassing Brazil at 6%," they wrote. In terms of asset allocation, AllianceBernstein is overweight on financials, while allocating a small portion of this weight to utilities. Delhivery is another favorite stock, with a price target of 460 Indian rupees, giving it around 5% upside. Electricity generation company NTPC made the list for its opportunities in thermal, renewables and green hydrogen, the analysts wrote. The asset manager is overweight on the stock at 274 Indian Rupees representing an upside of almost 15% from its Oct. 11 close.

Persons: AllianceBernstein, Venugopal Garre, Zomato, NTPC, Paytm, it's, — CNBC's Michael Bloom Organizations: Stock, HDFC Bank, Jio Financial Services Locations: India, Brazil

☆ India's Bank of Baroda falls after RBI ban on adding new app customers
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

A woman walks past a signboard of Bank of Baroda outside their branch office in New Delhi, India, June 20, 2023. REUTERS/Anushree Fadnavis/File photo Acquire Licensing RightsBENGALURU, Oct 11 (Reuters) - Shares of Bank of Baroda (BOB.NS) fell nearly 4% on Wednesday, a day after the Reserve Bank of India stopped the state-run lender from adding customers to its mobile app citing "certain material supervisory concerns." Bank of Baroda will be allowed to onboard customers to its bob World app only after rectifying certain deficiencies, the RBI said on Tuesday, without giving any details about the issues. Bob World app has 8.1 million daily transactions, while 43% of time deposits are obtained through the app, the bank had said in its quarterly presentation in August. Shares of Bank of Baroda have underperformed the PSU bank index for the year so far, rising 12% compared to nearly 20% in the index.

Persons: Anushree, Suresh Ganapathy, Macquarie, Bob, Varun Organizations: Bank of Baroda, REUTERS, Rights, Reserve Bank of India, Macquarie, Sethuraman NR, Thomson Locations: New Delhi, India, BOB.NS, Bengaluru

☆ India's Bharti Group to buy out French partner AXA's stake in JV
▼ + stars: | 2023-10-11 | by ( Hritam Mukherjee | ) www.reuters.com time to read: +2 min

Logos of France's biggest insurer Axa are seen on a building in Nanterre, near Paris, March 8, 2016. REUTERS/Christian Hartmann/File Photo Acquire Licensing RightsBENGALURU, Oct 11 (Reuters) - Bharti Group will acquire French insurer AXA's (AXAF.PA) 49% stake in Bharti AXA Life Insurance Co, the Indian conglomerate said on Wednesday, taking full control of a venture that was jointly run for nearly two decades. "There is ample scope for life insurance to grow in India. Bharti's JV deal, made through its Bharti Life Ventures arm, is expected to close by December this year, subject to regulatory approvals. The company competes with HDFC Life Insurance (HDFL.NS), ICICI Prudential Life Insurance (ICIR.NS), SBI Life Insurance (SBIL.NS) and LIC in a market ranked ninth in the world, according to the insurance regulatory body's latest annual report.

Persons: Christian Hartmann, Bharti, Burman, Avinash Singh, Hritam Mukherjee, Nivedita Bhattacharjee, Anil D'Silva Organizations: Axa, REUTERS, Rights, Bharti Group, Bharti AXA Life Insurance, Bharti, AXA, Life Insurance Corporation of India, United Provident Association, Insurance, JV, Religare Enterprises, Emkay Global Financial Services, Bharti's JV, Ventures, Life Insurance, ICICI Prudential Life Insurance, SBI Life Insurance, Bharti Airtel, Bharti Realty, Del Monte Foods, Del, Del Monte Pacific, Thomson Locations: Nanterre, Paris, India, Del Monte, Bengaluru

☆ Rupee likely to open weaker pressured by surging U.S. yields
▼ + stars: | 2023-10-03 | by ( Jaspreet Kalra | ) www.reuters.com time to read: +2 min

MUMBAI, Oct 3 (Reuters) - The Indian rupee is likely to open weaker on Tuesday as U.S. treasury yields rose to fresh multi-year highs after the United States averted a partial government shutdown. Non-deliverable forwards indicate the rupee will open at around 83.25 to the U.S. dollar compared with a close of 83.04 in Friday's session. Buoyed by higher U.S. yields, the dollar index also climbed to 107.13 in Asia, its highest level since November 2022. While the rupee has come close to testing its record low levels in recent weeks, likely dollar sales from the RBI have managed to keep some of the weakness at bay. The rupee could see an intraday fall to a fresh record low if the dollar index continues to strengthen, said Dilip Parmar, a foreign exchange research analyst at HDFC Securities.

Persons: Loretta Mester, Dilip Parmar, Jaspreet Kalra, Sonia Cheema Organizations: U.S, . Federal Reserve, Reserve Bank, Cleveland, Reserve Bank of India, Brent, HDFC Securities, Thomson Locations: MUMBAI, United States, Asia

☆ Goldman expects 'healthy' growth at these 3 Indian banking stocks – giving one nearly 50% upside
▼ + stars: | 2023-09-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Goldman Sachs forecasts "healthy" growth in new lending at three major Indian banks over the next six months, which it says could lead to a significant upside for these stocks. The Wall Street bank noted that Indian bank stocks have broadly outperformed the MSCI India index over the past year, but have underperformed over the last three to six months. Goldman Sachs said that valuation multiples for Indian banks have declined the most despite earnings per share (EPS) upgrades. HDB KOTAKBANK-IN,SBIN-IN YTD mountain However, Goldman Sachs expects operating profit to bottom out in the December quarter of 2023 as margins and growth rates stabilize. Goldman's view on the Indian banks Kotak Mahindra Bank Price target: 2,624 Indian rupees ($31.6).

Persons: Goldman Sachs, Rahul Jain, Hardik Shah, Goldman, ROA, ROE, CNBC's Naman Tandon Organizations: Mahindra Bank, State Bank of India, HDFC Bank, ICICI Bank, Mahindra Bank Price, SBI, HDFC Locations: India, United States

☆ Condom-shy India arouses interest of global contraceptive makers
▼ + stars: | 2023-09-21 | by ( Kashish Tandon | ) www.reuters.com time to read: +5 min

Such is the trend that the market is set to more than double to $1.7 billion by 2030, showed data from GrandView Research. By contrast, 19% of U.S. men use condoms every time they have sex, showed data from the National Center for Health Statistics. World Bank data showed that, in 2021, per capita gross domestic product crossed $2,000 - a threshold at which, in China in 2006, consumption jumped. Britain's Reckitt Benckiser Group (RKT.L) has launched new products under its Durex brand and expanded its "Birds and the Bees" rural marketing campaign. SOCIAL MEDIAIndia's market leader is domestic manufacturer Mankind Pharma (MNKI.NS) with a 33% share, ahead of Reckitt Benckiser at 14%, TechSci data showed.

Persons: Kazuhiro Kamio, Okamoto, Arvind Singhal, Miah Kiat Goh, Dwight, Mankind, Ashita Aggarwal, Kashish Tandon, Sumit Khanna, Rocky Swift, Dhanya Skariachan, Christopher Cushing Organizations: GrandView Research, Reuters Graphics Reuters, Okamoto Industries, National Center for Health Statistics, Technopak Advisors, Reuters, United Nations, Benckiser, ., Mankind Pharma, Social, Jain Institute of Management & Research, HDFC Securities Institutional, View Research, Thomson Locations: BENGALURU, India, Europe, Japan, China, U.S, S.P, Bengaluru, Ahmedabad, Rocky, Tokyo

☆ Indian shares set to open lower with HDFC, Fed decision in focus
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

India's GIFT Nifty (.GIFc1) on the NSE International Exchange was down about 0.1% at 20,080.5 points, as of 8.20 a.m IST. HDFC Bank (HDBK.NS) on Monday said its gross non-performing assets will likely increase as of July 1, after its merger with HDFC. CPP had increased its investment in Indian markets to about $15 billion, as of the fiscal year ending March. Foreign investors sold 12.37 billion rupees ($148.64 million) worth of shares on a net basis on Monday, while their domestic counterparts bought 5.53 billion rupees worth of equity, according to stock exchange data. ($1 = 83.2230 Indian rupees)Reporting by Archishma Iyer in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Niharika Kulkarni, Archishma Iyer, Sonia Cheema Organizations: Bombay Stock Exchange, REUTERS, HDFC Bank, U.S . Federal, NSE, BSE, HDFC, Investors, Bharat Dynamics, IAF, Thyrocare, Tata Motors, Thomson Locations: Mumbai, India, Canada, Bengaluru

The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai, India, February 2, 2016. Retail CBDC transactions are averaging close to 18,000 a day, way short of the RBI's one million-a-day target by 2023 end. UPI is an instant real-time payments system that allows users to transfer money across multiple banks without disclosing bank account details. The facility, announced in June, has been activated by large banks, including State Bank of India, the country's largest lender. Top private lender HDFC Bank is working with a technology firm IDEMIA to build a version of offline CBDC transactions for feature phones, according to two people aware of the plans.

Persons: Danish Siddiqui, Sharat Chandra, Akhil Handa, Handa, Jaspreet Kalra, Siddhi Nayak, Dhanya Ann Thoppil Organizations: Bank of India, REUTERS, Danish, Rights, Reserve Bank of India, UPI, State Bank of India, India Blockchain, HDFC Bank, Bank of Baroda, Thomson Locations: Mumbai, India, Rights MUMBAI, Siddhi

☆ 'China has disappointed': These are the top markets and stocks to invest in, according to the pros
▼ + stars: | 2023-08-15 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

In contrast, nearly $1 billion went into emerging market ex-China mutual funds, according to Refinitiv data that Reuters cited. Here are some alternatives to China and the stocks to invest in, according to the pros. Japan Japan stocks have been an investor favorite this year, seeing the highest inflows in 20 years, according to Eastspring Investments. Demand for Japan funds has surged among European investors, according to data from research firm Cerulli. The bank screened for Japan stocks with the following attributes: resilient earnings, price-to-book (P/B) ratio below 1.5, and potential P/B upside relative to return on equity.

Persons: Morningstar, “, ”, Derrick Irwin, there's, Oliver Lee, BofA, Joanne Peng, Allspring's Irwin, Irwin, Fomento, He's, Morgan Stanley, Will, ” Irwin, Cerulli’s Peng Organizations: Morningstar, CNBC Pro, Reuters, Allspring Global Investments, CNBC, “, Eastspring Investments, Ivailo, Mitsui & Co, Honda Motor, Nomura, Kansai Electric Power, Mitsubishi Motors, Panasonic, Mexicano, HDFC Bank, HDFC Locations: European, China, India, Beijing, Japan Japan, Japan, Europe, Vietnam, Asia, Indonesia, Malaysia, Southeast Asia, Mexico, America, Will China

☆ Uday Kotak is wanting for the market’s support
▼ + stars: | 2023-08-09 | by ( Shritama Bose | ) www.reuters.com time to read: +3 min

Uday Kotak plans to remain on the board of the $44 billion lender carrying his name after he steps down as CEO in December. India’s regulator will bear that in mind as it also decides if someone from inside Kotak Mahindra Bank (KTKM.NS) can succeed the 64-year-old. In the past, the regulator has booted out private bank chiefs for poor management of bad loans and overhauled a bank board where it perceived succession planning was poor. Whatever regulators decide for Uday Kotak and his bank, having the market onside will be helpful all around. Follow @ShritamaBose on TwitterCONTEXT NEWSThe Reserve Bank of India is nudging Kotak Mahindra Bank to select someone outside the lender to succeed billionaire founder Uday Kotak as the next CEO, Bloomberg reported on July 31, citing unnamed sources.

Persons: Uday Kotak, Jamie Dimon, Kotak, Jay, Una Galani, Thomas Shum Organizations: Reuters, Kotak Mahindra Bank, Reserve Bank of India, HDFC Bank, ICICI Bank, Kotak, Reuters Graphics, nudging, Mahindra Bank, Bloomberg, Thomson Locations: MUMBAI, Mumbai

☆ Indian lenders’ earnings get credit reality check
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] A man checks his mobile phones in front of State Bank of India (SBI) branch in Kolkata, India, February 9, 2018. REUTERS/Rupak De Chowdhuri/File PhotoMUMBAI, Aug 7 (Reuters Breakingviews) - A near three-fold jump in net profit did little to cheer State Bank of India (SBI.NS) investors. April to June is seasonally weak for farm credit, and Khara said some delinquent accounts have already bounced back. Granted, overall delinquencies remain low: gross non-performing assets are just 2.76% of SBI’s portfolio, and less than half that at HDFC Bank. The fear is, as one executive told Breakingviews, that this is worsening as pandemic-era support schemes wind down and interest rates rise.

Persons: Dinesh Khara, Khara, Breakingviews, Shritama Bose, headwinds, Antony Currie, Thomas Shum Organizations: State Bank of India, REUTERS, Reuters, HDFC Bank, Bajaj Finance, Services, Twitter, Adidas, InBev, Thomson Locations: Kolkata, India, MUMBAI

☆ State Bank of India first-quarter profit nearly triples to all-time high
▼ + stars: | 2023-08-04 | by ( Siddhi Nayak | ) www.reuters.com time to read: +2 min

A man checks his mobile phones in front of State Bank of India (SBI) branch in Kolkata, India, February 9, 2018. Net profit was at a record 168.84 billion rupees ($2.04 billion) for the quarter ended June 30, compared with 60.68 billion rupees a year earlier. Rivals HDFC Bank (HDBK.NS) and ICICI Bank (ICBK.NS) have reported double-digit net interest income growth for the fiscal first quarter. The net NPA ratio rose to 0.71% from 0.67% in the prior three months. The bank expects its net NPA ratio to fall to 0.5% in the next few quarters, Khara said.

Persons: Chowdhuri, Dinesh Kumar Khara, Khara, SBI's, Siddhi Nayak, Sonia Cheema Organizations: State Bank of India, REUTERS, Rivals HDFC Bank, ICICI Bank, Reserve Bank of India, Siddhi, Thomson Locations: Kolkata, India, MUMBAI, BENGALURU

☆ EQT’s India IVF buyout hits on fertile themes
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, Aug 1 (Reuters Breakingviews) - Private equity giant EQT (EQTAB.ST) is buying a majority stake in the country’s largest fertility clinic chain Indira IVF via its Asian unit BPEA EQT, valuing the firm at $1.1 billion. Indira IVF serves some of the 15% of Indian couples experiencing infertility, a problem on the rise in the world’s most populous country as people marry later and air pollution stifles the ability to conceive naturally. EQT’s deal also is another bet on the changing demands of the South Asian nation’s middle class. Thanks to the gradual maturing of the private equity business, both purchases come with the added benefit of the buyer taking control. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Indira, EQT’s, Shritama Bose, Steve Cohen, ’, Una Galani, Aditya Munjuluru Organizations: Reuters, Blackstone, HDFC, Twitter, Sequoia, Walmart, Thomson Locations: MUMBAI, Temasek

SummaryCompanies Top private banks report attrition rates of 35-50%Highest turnover seen in sales staffBrisk growth in retail lending leading to attritionMUMBAI, July 27 (Reuters) - India's private lenders are contending with soaring attrition amid strong demand for loans and the rush to capture a larger share of the crowded market. HDFC Bank, India's largest private lender, saw its employee turnover rate over the last year rise to 34%, while Axis Bank was at nearly 35%. Kotak Mahindra Bank's attrition surged to about 50%, with smaller peer Yes Bank in toe at 43%. The bank is working towards controlling it and would "not like to see an overall attrition of more than 25-30%," he said. Kotak Mahindra Bank, which has seen the sharpest jump in attrition, saw the worst churn at junior levels, it said.

Persons: Kotak, Amitabh Chaudhry, Chaudhry, Rituparna Chakraborty, Prashant Kumar, Teamlease's Chakraborty, Shanti Ekambaram, Ekambaram, Jain, Ira Dugal, Siddhi Nayak, Dhanya Ann Thoppil Organizations: HDFC Bank, Axis, Kotak Mahindra, Teamlease Services, Reuters, Kotak Mahindra Bank, Thomson Locations: MUMBAI, India's, Siddhi

☆ Rupee ends at 3-wk high on dollar inflows; Fed meet in focus
▼ + stars: | 2023-07-24 | by ( Sethuraman N R | ) www.reuters.com time to read: +1 min

Likely corporate dollar inflows related to an Indian conglomerate was the major driver for the rupee's move, traders and analysts said. There are possibilities of central bank intervention given that it has previously bought dollars in the 81.85-81.90 range, said Dilip Parmar, research analyst at HDFC Securities. The appreciation in the rupee is also on the moderate side given the rise in the dollar index, Parmar said. The dollar inflows into equities have also been helping the rupee, traders added. The dollar index , on the other hand, has recovered from 15-month lows hit last week and was up 0.2% on Monday.

Persons: Dilip Parmar, Parmar, India's, Avni Jain, Sonia Cheema Organizations: U.S ., HDFC Securities, Reserve Bank of India, U.S . Federal, European Central Bank, Bank of, FX, HDFC Bank, Sethuraman NR, Thomson Locations: BENGALURU, Bengaluru

"Is there going to be a challenge to Royal Enfield? It sold fewer than 30,000 motorcycles - less than the number of bikes Royal Enfield sells each month. Triumph said it has received orders for over 14,000 Speed 400 bikes, exceeding its total India sales of the past decade. Still, the frenzy over the new models is reflected in the surge in Google searches about Harley-Davidson and Triumph in India. Improved financing options is also encouraging lower-income buyers to consider premium bikes, said HDFC Securities analyst Aniket Mhatre.

Persons: Davidson, Rishi Vora, brokerages, Harley, Kotak, Royal Enfield's, Eicher, Royal, Shubhabrata Marmar, Enfield, Varun Painter, MotoCorp, Sathish Rao, Aniket Mhatre, Priyanka Kochhar, Indranil Sarkar, Aby Jose Koilparambil, Nandan Mandayam, Saumya Singh, Navamya Ganesh Acharya, Varun, Dhanya Skariachan, Euan Rocha, Christopher Cushing Organizations: Reuters, Bajaj Auto Ltd, Handout, REUTERS, Royal Enfield, Securities, Harley, Royal, Eicher Motors, Reuters Graphics Reuters, ROYAL, Enfield, Mahindra, Mahindra's, TVS, Bajaj Auto, Bajaj, Triumph, HDFC Securities, Thomson Locations: REUTERS BENGALURU, India, Royal Enfield, Bengaluru

☆ India's ICICI Bank beats estimates with record April-June net profit
▼ + stars: | 2023-07-22 | by ( Siddhi Nayak | ) www.reuters.com time to read: +2 min

MUMBAI, July 22 (Reuters) - ICICI Bank (ICBK.NS), India's second-largest private lender, beat expectations to deliver a record first-quarter net profit on Saturday, helped by higher interest income and loan growth. The Mumbai-based lender reported a near-40% rise year-on-year in net profit to 96.48 billion rupees ($1.18 billion) for the April-June quarter, beating analysts' forecast of 91.8 billion rupees, Refinitiv IBES data showed. Net interest income - the difference between interest earned and paid - rose 38% to 182.27 billion rupees. Net interest margin (NIM) expanded to 4.78% from 4.01% a year earlier, but was lower than 4.90% reported in the January-March quarter. The bank booked provisions and contingencies of 12.92 billion rupees, up from 11.44 billion a year earlier.

Persons: Sandeep Batra, NIM, Batra, Banks, Siddhi Nayak, William Mallard, Jason Neely, Clelia Organizations: ICICI Bank, HDFC Bank, ICICI, Siddhi, Thomson Locations: MUMBAI, Mumbai, India

Search resuls for: "HDFC"

25 mentions found