Moneycontrol Selects: Top stories this morning

A round-up of the big stories

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Here is a collection of our most important stories this morning:

1. HDFC Bank shares rise despite NII, NIM concerns; brokerages remain bullish

In the September quarter of the current financial year, the lender missed analyst estimates on net interest income (NII) and net interest margins (NIM). Its net profit, however, got a boost from higher other income and a lower tax rate. Read more.

2. Bajaj Finance Q2 preview: Profit may grow 30% YoY; pressure on margins likely

Bajaj Finance is likely to clock a 30 percent year-on-year increase in net profit to Rs 3,626 crore in the July-September quarter, driven by stable asset quality and higher loan growth, according to the average estimate of five brokerages. The non-bank lender is scheduled to announce its Q2 results on October 17. Read more.

3. Nomura downgrades Dalmia Bharat to 'neutral' from 'buy'

Nomura Research downgraded Dalmia Bharat to "neutral" from "buy," citing limited upside due to lower industry volume growth and uncertainty surrounding Jaypee deal. Despite the downgrade, the brokerage house has maintained the target price for Dalmia Bharat at Rs 2,600 per share, indicating a 12 percent increase from its present market price. Read more.

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4. Grasim Industries gains as Street cheers Rs 4,000-crore fundraise plan

Grasim Industries was trading 2.4 percent higher on October 17 morning, a day after the Aditya Birla Group company said it would raise up to Rs 4,000 crore through a rights issue, a move analysts say would also help improve debt ratios. Read more.

5. CEAT shares surge 7% as Q2 net profit jumps multifold

Shares of CEAT Limited zoomed 7 percent to Rs 2,249 in early trade on October 17 after the company reported a 2,556 percent increase in net profit to Rs 208 crore for the second quarter as sales picked up and expenses dropped.

In the quarter, consolidated total revenue stood at Rs 3,053.3 crore, marking a growth of 5 percent against Rs 2,894.5 crore during the same period last year, the company said in an exchange filing on October 16. Read more.