Last week, HDFC Bank shares fell almost 11 percent after they announced a disappointing Q3FY24 earnings before trading around 1 percent higher on January 19.
Shares of ICICI Bank and Kotak Mahindra Bank were trading in the green on both exchanges at mid-day on January 20 as banking institutions are all set to announce their Q3FY24 earnings later in the day. At mid-day, ICICI Bank was trading at 1.71 percent higher at Rs 1,488.80 on the NSE, while Kotak Mahindra saw marginal gains and was trading at Rs 1781.
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According to Moneycontrol estimates, ICICI Bank could report a 20 percent year-on-year (YoY) growth in standalone net profit at Rs 9,946 crore for the December quarter. Net interest income could also rise 12 percent from the year-ago period to Rs 18,431 crore. Kotak Mahindra Bank, as per Moneycontrol estimates is expected to report 16 percent YoY growth in standalone net profit at Rs 3,243 crore for the quarter ended December 2023. Net interest income is expected to come in at Rs 6,434 crore, jumping 14 percent from from year-ago period.
Last week, HDFC Bank shares fell almost 11 percent after they announced a disappointing Q3FY24 earnings before trading around 1 percent higher on the NSE on January 19.
Also read: HDFC Bank gains after the big fall. CLSA says ‘buy’, FIIs warming up to the stock
In Q2FY24, ICICI Securities registered a 35.7 percent YOY growth in standalone profit. Net Profit for the period grew 36 percent YoY to Rs 10,261 crore. Total income also increased to Rs 40,697 crore from Rs 31,088 crore in the previous fiscal. In Q2FY24, Kotak Mahindra Bank reported a net profit of Rs 3,191 crore, a 23.66 percent year-on-year increase to Rs 2,581 crore clocked in the year-ago period.
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