File image of HDFC Bank PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook HDFC Bank (CMP: Rs 1,545; M Cap: Rs 856,439 crore) posted a strong performance in the third quarter of FY22 (Q3 FY22), maintaining consistency. Net profit increased by 18 percent year on year (YoY) in the quarter, aided by lower provisions/credit costs. Healthy loan growth and improved asset quality were the key positives. They were partially offset by weak margins and fee income. Though margin was stable at 4.1 percent in Q3FY22, it stood at the lower end of the... … [Read more...] about HDFC Bank Q3: Strong on lower provisions; can the stock bounce back in 2022?
Orcl q3 2021
HCL Tech | Representative image Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × HCL Technologies Ltd. (HCL Tech) , one of India’s largest IT Services Company, on January 14 reported a consolidated net profit of Rs 3,442 crore for the quarter ended December 2021 (Q3FY22) registering a 13.3 percent year-on-year (YoY) degrowth. On a sequential basis, the profit grew by 5.6 percent. The company had reported a consolidated profit after tax (PAT) of Rs 3,969 crore in the corresponding quarter last year. In the preceding quarter, PAT stood at Rs 3,259 crore. It may be noted that PAT for corresponding quarter of last year was higher by Rs 438 crore (USD 59.4 million) due to reversal of a prior years’ tax provision. The reversal was due to change in the method of calculating tax deduction, basis evaluation of judicial rulings. … [Read more...] about HCL Tech Q3 Result | Profit comes in at Rs 3,442 crore, revenue grows to Rs 22,331 crore; meets expectations
File image of HDFC Bank HDFC Bank Ltd, India’s most valuable private sector lender is on its way back to delivering above-average balance sheet growth with pristine asset quality it is known for. That does not mean the lender would reach its destination without breaking a sweat. HDFC Bank’s Q3FY22 was a mixed bag with core operating performance yet to reach its past prime. Net interest income growth remained around 14 percent, a decelerated expansion level post the pandemic. Operating expenses were up 14 percent sequentially which analysts believe has scope to reduce in the coming quarters. To be sure, the bank should be cut some slack here as the expenses were towards beefing up digital capabilities to capture growth. Given the expenses and more muted earnings, operating profit growth of 10.5 percent didn’t exactly elicit excitement. That said, the bank reported a healthy 18% net profit growth on a reduced provisioning level. The upshot is that the bottomline growth remained … [Read more...] about HDFC Bank gets growth back in Q3 but fees need a fix
(Representational image) Total employment generated by nine select sectors stood at 3.10 crore in the July-September 2021 quarter, which is 2 lakh more than that of the April-June period, according to a quarterly employment survey by the labour ministry released on Monday. The quarterly employment survey (QES) report released by Union Labour Minister Bhupender Yadav said that total employment numbers in the nine select sectors were 3.08 crore in April-June 2021. The rise shows improvement in economic activities after lifting of lockdown restrictions by states to curb the spread of deadly virus after the second wave of the COVID-19 pandemic hit the country in April 2021. These nine sectors are Manufacturing, Construction, Trade, Transport, Education, Health, Accommodation and Restaurant, IT/ BPO and Financial Services, accounting for a majority of the total employment in the non-farm establishments. This is the second report in the series. First report was for April-June … [Read more...] about Total employment in 9 select sectors rises to 3.10 crore in July-September 2021
Hiring demand across industries jumped 12 percent year-on-year in December 2021, indicating optimism in the economic recovery cycle, the Monster Employment Index released on January 17 shows. The index, which analyses online job postings on the Monster India portal as well as other databases, found that the hiring demand was higher in 22 of the monitored 27 industries compared to December 2020. In terms of segments, roles in office equipment and automation continued to see the greatest demand, with posting for these jobs up 86 percent year-on-year in December 2021. "Hiring numbers from the close of 2021 have certainly brought about a strong sense of hope and recovery across sectors," Monster.com Chief Executive Officer Sekhar Garisa said. "However, we remain cautiously optimistic on the growth of the Indian recruitment space in 2022, keeping in mind the possible impact of Omicron on the job market." Close India has in recent weeks has seen a spike in daily … [Read more...] about Optimism on jobs front, hiring demand rises 12% in December 2021
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Shares of IT major HCL Tech dropped by nearly six percent on January 17, in the first session following the release of its Q3 results. The company's share valued at Rs 1,258.75 at closing hours, which marked a plunge of 5.87 percent. The stock hit a low of Rs 1,255.10 on the BSE, down 6 percent, intraday. The Q3 numbers , released by HCL Tech on January 14, were largely in line with the expectations. Brokerages, however, raised concern towards the weak margin outlook. In terms of revenue, the company clocked an 8 percent sequential growth at Rs 22,331 crore, whereas, profit grew 5.4 percent QoQ to Rs 3,442 crore. Here's what brokerages have to say: Credit Suisse Close The brokerage has an ‘outperform’ call on the IT stock and has raised its target price to Rs 1,650 … [Read more...] about HCL Tech shares slide nearly 6% in first session after Q3 results; here’s what top brokerages say
Share to Twitter Share to Linkedin My trademark as a tax blogger is "stuff I find interesting". Not surprisingly a bit of that stuff is not that interesting to a very large number of people. Much as I appreciate the discerning elite of my readers, I sometimes like to reflect on what seems to be of the most interest. Here is what my readership found most interesting in 2021. Stimulus Checks Excitement over stimulus checks infected the blogosphere and seemed to be a surefire way to get traffic. I was tempted to do a post about how my barber who knows a congressman thinks the next stimulus check will be a prime number. I followed my principles nonetheless and only wrote about them when I thought I had something worthwhile and was rewarded with reader interest. In Stimulus Checks And Filing Your 2020 Tax Return-Hurry Up Or Wait? , I scoped out the unique situation we found ourselves in where you could affect your overall outcome by whether you filed your … [Read more...] about Stimulus Checks, Unpassed Tax Provisions And Other Fun In 2021
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × HDFC Bank's share price rose marginally in early trade on January 17 after the private sector lender reported results for the quarter ended December. The bank on January 15 clocked standalone net profit of Rs 10,342 crore for the quarter, up 18 percent year-on-year, backed by decline in bad loan provisions. Net interest income, the difference between interest earned and interest expended, climbed 13 percent to Rs 18,444 crore, with net interest margin at 4.1 percent, and credit growth clocking a healthy 16.4 percent. Profit and net interest income grew 17 and 4.3 percent respectively on a sequential basis. Catch all the market action on our live blog Close Here is what brokerages have to say about the stock and the company: Macquarie The research house has kept … [Read more...] about What should investors do with HDFC Bank after Q3 earnings; buy, sell or hold?
Representative image Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Noida-based IT Services firm HCL Technologies will double its fresher hiring in FY23 as the demand for technology services continues to outstrip supply, and rising attrition. The company will hire 20,000-22,000 freshers in FY22 . So far 17,500 freshers have been on-boarded and the rest will join the company in the fourth quarter. The firm employs about 1.97 lakh employees. Between January and December 2021, the company hired 38,095 people, of which 10,143 were added in the October to December quarter alone. At 19.8 percent attrition is a huge concern for the firm. HCL Tech reported 15.7 percent in Q2 FY22, from 11.8 percent in the last quarter. During the earnings call on January 14, VV Apparao, Chief Human Resources officer, HCL Tech, said that while … [Read more...] about HCL Tech to double fresher hiring in FY23 from 20,000 this fiscal
PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook Tata Metaliks (TML; CMP: Rs 887; Market Capitalisation: Rs 2,801 crore) saw a decline in its financial performance in the December 2021 quarter. TML has an order book position of nearly 9-10 months in the ductile iron (DI) pipe segment, of which 60-70 percent contracts are based on old prices. This can impact margins in the near term. December quarter performance Volumes in the pig iron (PI) segment were hit by the planned maintenance shutdown of the blast furnace. Post the... … [Read more...] about Tata Metaliks: Will performance improve, going forward?