ICICI Bank Rallies Post Q2 FY17 Numbers

ICICI Bank Ltd is currently trading at Rs 283.5, up by Rs 4.75 or 1.7% from its previous closing of Rs 278.75 on the BSE. The bank reported on a standalone basis its profit after tax was Rs 3,102 crore (US$ 466 million) for Q2 FY17 compared to Rs 2,232 crore (US$ 335 million) for Q1 FY17 and Rs 3,030 crore (US$ 455 million) for Q2 FY16.

The scrip opened at Rs 281.6 and has touched a high and low of Rs 287.4 and Rs 281.6 respectively. So far 13032821 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 162208.34 crore.

The bank posted Net interest income of Rs 5,253 crore (US$ 789 million) in the quarter ended September 30, 2016 (Q2 FY17) compared to Rs 5,251 crore (US$ 788 million) in the quarter ended September 30, 2015 (Q2 FY16).

The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs 291.5 on 25-Oct-2016 and a 52 week low of Rs 180.8 on 26-Feb-2016. Last one week high and low of the scrip stood at Rs 280.95 and Rs 265.6 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 65.5 % and 9.13 % respectively.

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The stock is currently trading above its 50 DMA.

Results to watch out for! BHEL, Ashok Leyland, Bharat Forge, Indigo in focus

The results which are expected today are BHEL, Ashok Leyland, Bharat Forge, Indigo, Tata Communications, Insecticides (India), KEC International, MRPL,Mcleod Russel India,Bombay Dyeing, PTC India Financial Services, Repco Home Finance, Sml Isuzu,Wabco India, Nesco.

Themis Medicare, Jpt Securities,Thirani Projects, Kamanwala Housing Construction ,Transwarranty Finance, Kernex Microsystems (India), Ufo Moviez India,Khaitan Chemicals & Fertilizers ,Vandana Knitwear, Kiran Syntex , Vesuvius India, Kothari Petrochemicals, Vidli Restaurants, Kusam Electrical Industries, Vinyl Chemicals India, Ladderup Finance, Vishvaprabha Trading.

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Top 15 stocks in focus today: ICICI Bank, Future Retail, Britannia Industries

ICICI Bank: ICICI Bank reported net profit of Rs 3,102 crore for the quarter ended September 30, 2016 against Rs 3,030 crore in the corresponding quarter a year ago.

Britannia Industries: Britannia Industries posted a 5.8% rise in its consolidated net profit to Rs 234 crore in the quarter ended September 30, 2016 as compared to Rs 221 crore in the year-ago period.

IT stocks: IT stocks will be in focus today. Cognizant reported 11.8% in net profit to $444.4 million in the July-September quarter, but cut its annual revenue forecast for the third straight time this year.

Future Retail: Future Retail said it has agreed to buy the retail business of Hyderabad-based Heritage Foods Ltd, promoted by the family members of Andhra Pradesh chief minister N. Chandrababu Naidu, in an all-stock deal.

Ceat: Ceat registered 1.6% rise in consolidated net profit at Rs 107 crore for the quarter ended September 30. It had posted a net profit of Rs 105 crore in the same quarter last fiscal.

GlaxoSmithKline Consumer Healthcare: The company reported 16.62 per cent decline in standalone net profit at Rs 183.72 crore for the second quarter ended September 30, 2016. It had posted a standalone net profit of Rs 220.34 crore in the same quarter last fiscal.

Varun Beverages: Shares of Varun Beverages is going to list on bourses today.

GIC Housing Finance: The company said S Gopakumar, general manager with Oriental Insurance Company, has been appointed as managing director of the company. Warendra Sinha resigned as MD and CEO of the company following his elevation as whole time director of National Insurance Company.

Wipro: The company on Monday announced the launch of its Open Banking API (Application Programming Interface) Platform. The Open API platform, will enable banks and financial institutions to launch Open Banking initiatives and create new forms of distribution channels and servicing capabilities, provide access to third-party application marketplaces, and comply with emerging regulatory norms through the standardisation of APIs.

Ashok Leyland: Ashok Leyland will announce its Q2 numbers today.

L&T: L&T-MHPS Boilers Pvt Ltd has signed a technology licence agreement for selective catalytic reduction systems with Mitsubishi Hitachi Power Systems Ltd.

Cyinet Ltd: The company has signed a definitive agreement with Blom ASA to acquire 100% stake in Blom Aerofilms.

Indigo: The airline company will announce its Q2 numbers today.

Bombay Dyeing: Bombay Dyeing will announce its Q2 numbers today.

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