Indices at previous closing
Nifty50: 18,255 ▼2 (-0.0%)
Sensex: 61,223 ▼12 (-0.0%)
Nifty Bank: 38,370 ▼99 (-0.2%)
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HDFC Bank beats street estimates
India’s largest private bank’s net profit beat street estimates and rose 18% year-on-year to ₹10,342 crore in the December quarter. The double digit growth in the bottom line was aided by a 13% rise in the net interest income to ₹18,443 crore.
The asset quality also improved with the gross NPA-to-loan book ratio at 1.2% in Q3FY22 compared to 1.3% in Q3FY21. Meanwhile, shares of HDFC Bank rose 1% on Friday but the results were announced on the weekend.
Metro Brands posts best-ever quarterly profit
In the December quarter, the footwear retailer reported its best-ever consolidated quarterly profit of ₹102 crore, up 53% year-on-year. The sharp growth in the profit was driven by a 59% rise in the revenue to ₹484 crore.
The management said that the company’s brands Metro, Mochi, Walkway and Crocs are witnessing traction. It’s e-commerce and omnichannel business also continues to grow. Meanwhile, shares of the recently-listed Metro Brands are trading marginally above their issue price of ₹500.
Maruti Suzuki hikes prices again
India’s largest car maker hiked prices for the third time in the current financial year. The weighted average price rise across models will be 1.7%. The company attributed the price hike to an increase in input costs.
Other automakers like M&M and Tata Motors have also taken similar price hikes this year. The rising prices of commodities such as metal have been hurting automakers’ profitability. Meanwhile, shares of Maruti Suzuki were flat on Friday, but have gained 9% so far this month.
Sectoral indices (January 14)
| Top gainers | Top losers |
| Nifty Realty ▲ 1.1% | Nifty FMCG ▼ 0.7% |
| Nifty IT ▲ 0.5% | Nifty Pharma ▼ 0.6% |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.3% |
| Nikkei 225 (Japan) | ▲ 0.6% |
| Hang Seng (Hong Kong) | ▼ 0.5% |
| SSE Composite (China) | ▲ 0.1% |
| Dow Jones (US) (January 14) | ▼ 0.5% |
| NYSE (US) (January 14) | ▼ 0.2% |
| Nasdaq (US) (January 14) | ▲ 0.5% |
| S&P 500 (US) (January 14) | ▲ 0.0% |
Fact of the day
In 2010, poultry company Venky’s bought Blackburn Rovers for £23 million (₹233 crore), becoming the first Indian company to own a Premier League football team.
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