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In an interview to CNBC-TV18, Sampath Kumar of IIFL Institutional Equities outlined his expectations from private sector lender ICICI Bank's second quarter earnings. He also shared his outlook on other banking stocks like PNB and SBI.
Motilal Oswal has come with its September quarterly earning estimates for Financials sector. According to the research firm, banking coverage universe is expected to report healthy PAT growth of 19% YoY, largely driven by 23% YoY profit growth from private sector banks.
Emkay Global Financial Services has come with its September quarterly earning estimates for Banking and Financial Services sector. According to the research firm, top picks for the quarterly results - HDFC Bank, ICICI Bank and United bank in banking space. Mahindra Finance and CRISIL are our top picks in NBFC space.
Vijay Sarathi, banking analyst at Nomura India says for PSU banks incremental delinquencies will be at the same levels where they were in Q1 of FY13.
Dolat Capital has come with its September`12 quarterly earning estimates for financial sector. According to the research firm banks‘ asset quality would remain under stress particularly for state-owned banks.
Angel Broking has come with its September`12 quarterly earning estimates for banking sector. According to the research firm banking stocks remained under stress on increased asset quality concerns.
All listed companies will declare their results for the quarter ending September 30, 2012. In an interview to CNBC-TV18, Vaibhav Agrawal of Angel Broking speaks about his expectations from the banking sector.
In an interview to CNBC-TV18, Pratip Chaudhuri, chairman of State Bank of India says, 9% of total midcap book of Rs 1.75 lakh crore is NPA. The bank maintains its margin guidance of 3.75%.
SBI chairman Pratip Chaudhuri is confident that the bank will be able to reverse the Rs 3000-4000 crore of slippages in the coming two quarters.
While the jump in non-performing assets has been shocking, Hemindra Hazari, Head of Research at Nirmal Bang said that given the condition of the global economy it is but natural to have expected such a negative surprise.
SBI shares continued to be under pressure, down over 4% at Rs 1889, even as chairman Pratip Chaudhuri tried to draw attention to the positives in the first quarter performance.
State run lender reported a 137% jump in net profit at Rs 3,752 crore for the first quarter ended June 30, 2012. It had a net profit of Rs 1,583 crore in the April-June quarter of 2011-12 fiscal.
Vaibhav Agarwal, Angel Broking says, the gross non-performing asset (NPA) number has come much above what the management was guiding and the street was expecting. He sees further downside on the stock.
Country's largest lender State Bank of India (SBI) is set to announce its results for the quarter ended June 2012. Analysts on an average expect standalone profit after tax to grow by 129.25% year-on-year to Rs 3,630.24 crore due to low base effect in a year ago period, but quarter-on-quarter basis the same is expected to be flat to negative.
Dolat Capital has come out with its earnings estimates on State Bank of India (SBI) for Q1FY13. According to the research firm, company's Q1FY13 sales are likely to go up by 16% at Rs 112,95.6 crore, Year-on-Year (YoY) basis.
Prabhudas Lilladher has come with its June quarterly earning estimates for banking & financial services sector. According to the research firm, Q1FY13 will be a relatively strong operating quarter for financials with ~22%/ 21% y/y PPOP and net profit growth.
Dolat Capital has come with its June quarterly earning estimates for banking sector. According to the research firm, banks are likely to post 27% YoY growth in PAT for Q1FY13.
Indian corporate earnings results for Jan-March 'should be weak', warns Bank of America-Merrill Lynch, adding that it sees potential for a market correction.
Angel Broking has come out with its June quarterly earning estimates for banking sector. The research firm expects margins to come under pressure in 1HFY2013.
Emkay Global Financial Services has come with its June quarterly earning estimates for Banking and Financial Services sector. According to the research firm, lower NII growth is expected to be driven by sluggish advance growth and 5-15 bps contraction in NIMs led by decline in yield on assets and cost pressures.
Private sector banks continue to be the preferred bet over their peers in public sector space in the April-June quarter of the financial year 2012-13. While the former is likely to post a net profit growth of more than 20% year-on-year, the latter's net profit would grow at a slower pace of around 15% on an average barring SBI.
Vijay Sarathi, banking analyst at Nomura says, SBI's the net interest income was in line with his numbers. The key surprise, he says, was gross non-performing loans (NPLs). He has a target price of Rs 2,400 on the stock. "Our book value for FY13 is about Rs 1,365," he adds.
SBI chairman Pratip Chaudhuri told CNBC-TV18 that the bank has successfully managed a significant improvement in asset quality.
In an interview to CNBC-TV18, Hemendra Hazari of Nirmal Bang Institutional Equities says one would expect it to see a very sharp increase in asset quality NPAs but we are not seeing that in India's largest bank SBI which is a cause for concern.
SBI declared its fourth quarter results today. Rajiv Mehta of IIFL says, the broad numbers, which have come out, seem good. He sees 10-15% upside in the stock from the current levels.