1:30 pm Results:
Yes Bank's third quarter (October-December period) profit climbed 30 percent to
Rs 540.3 crore, driven by strong net interest income and other income. However,
rise in provision limited profits to some extent. Net in the year-ago period
was Rs 415.60 crore. Numbers were marginally higher than analysts'
expectations. Profit was expected at Rs 516 crore and net interest income at
887 crore for the quarter, according to the average of estimates of analysts
polled.
Net interest income, the difference between interest earned
and interest expended, surged 36.6 percent on yearly basis to Rs 909 crore
during October-December quarter. Other income (non-interest income) grew by
whopping 38.4 percent to Rs 536.81 crore for the quarter.
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Airways slumps 6%, investors wary of Goyal's move
The market is still under selling pressure. The Sensex is
down 178.77 points or 0.6 percent at 27246.96 and the Nifty is down 48.30
points or 0.6 percent at 8251.10. About 1075 shares have advanced, 1535 shares
declined, and 337 shares are unchanged.
What fails to cheer the market is better than estimated WPI
data for December. Lower food and manufacturing products inflation support the
data while clamour for a rate cut before the February RBI policy rises.
Hindalco, Sesa Sterlite, ITC, Tata Steel and GAIL are among
the laggards while BHEL, HUL, Bajaj Auto, Infosys and Maruti Suzuki.
Commodity rout drags Asian markets lower today. Oil
continues to trade near 6-year lows. Copper too slips to levels not seen since
mid-2009. Gold slips from 12-week highsas concerns over a supply glut in oil
and slowing consumption in China dampens sentiment. More information please
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