Narendra Modi last month passed legislation allowing foreign players to increase their stakes in local joint ventures. The Financial Times reports.» Read More
MUMBAI, India-- ICICI Bank reported a better-than-expected 30 percent rise in quarterly profit Friday on strong interest income and demand for retail loans, as India's largest private lender managed to improve loan quality despite rising corporate defaults.
MUMBAI, Oct 12- Indian shares snapped a five-week streak of gains on Friday as bellwether Infosys Ltd. Worries that India would post high inflation data on Monday and erode prospects of interest rates cut from the central bank at the end of the month hit financial stocks such as ICICI Bank.
falls 0.66 percent while the 50- share NSE index is down 0.56 percent heading to their first weekly fall after five weeks of straight gains. drops 5.5 percent after disappointing investors with weaker-than-expected margins and took a conservative view on its full-year earnings.
Oct 12- HDFC Bank, India's No.3 lender, met forecasts with a 30 percent year-on-year rise in second quarter profit, led by stronger loan growth, greater fee income and stable net interest margins.
Oct 12- HDFC Bank, India's No.3 lender, met forecasts with a 30 percent rise in quarterly profit, led by stronger loan growth, better fee income and stable net interest margins.
The company also said revenue growth forecast for the current fiscal year that ends in March 2013 does not include the revenue from Lodestone Holding AG. India's benchmark 10- year bond yield. India's benchmark 5- year OIS up 3 bp at 7.00 percent, while the 1- year rate up 1 bp at 7.61 percent.
MUMBAI, Oct 11- India's ICICI bank has cut its floating rate on home loans by up to 100 basis points until December end, the country's second-largest lender said on Thursday. For loans up to 3 million rupees the bank will charge 10.25 percent interest, ICICI said. It earlier used to charge 10.5 percent for loans up to 3 million rupees.
The Reserve Bank of India may buy 1.2 trillion rupees of bonds in the second half of fiscal 2012/ 13, or 60 percent of the planned issuance, to offset incremental liquidity tightness, BarCap estimates. India's benchmark 5- year OIS is down 1 basis point at 6.96 percent.
*S&P says India still faces risk of rating downgrade. *India FY13 car sales growth f'cast slashed to 1-3 pct. S&P said the recent reform steps initiated by the government had helped in "slightly" revising its view on the country's credit rating, but warned India still faced a one-in-three chance of a credit rating downgrade within the next 24 months.
MUMBAI, Oct 10- Indian shares provisionally ended lower on Wednesday led by a fall in banking stocks including ICICI Bank. ICICI Bank fell 0.95 percent while State Bank of India. Ahead of corporate earnings on Friday, Infosys.
falls 0.64 percent, while the 50- share NSE index is down 0.68 percent, as profit-taking hits private lenders, including ICICI Bank. falls 1.1 percent after gaining 1.14 percent on Tuesday, while HDFC Bank. *Blue chip capital goods stocks also hit by profit-taking: Larsen& Toubro.
MUMBAI, Oct 10- India's Housing Development Finance Corp plans to raise up to 5 billion rupees through one-year one-day bonds at 9.10 percent, a source with direct knowledge of the matter said on Wednesday.
The BSE index fell 0.58 percent and the 50- share NSE index also declined 0.64 percent after S&P warned about a possible downgrade in India's credit rating, reiterating its June stance if growth prospects and external position worsen, or fiscal reforms slow. India's benchmark 10- year bond yield. India's benchmark 5- year OIS up 1 bp at 6.97 percent.
India's benchmark 10- year bond yield. India's benchmark 5- year OIS rate flat at 6.96 percent. India's one-day cash rate at 8.05-8.10 percent versus its previous close of 8.00/ 8.05 as demand was largely stable in the first week of the two-week reporting cycle.
S Treasury Secretary Tim Geithner, Fed Chairman Ben Bernanke will visit Mumbai. *Prime Minister Manmohan Singh to speak at International Energy ministers meeting in New Delhi. *World Steel Association's 2- day annual conference in New Delhi.
*United Spirits surges on hopes for Diageo deal. MUMBAI, Oct 9- Indian shares recovered on Tuesday from two previous sessions of losses as dented stocks such as Infosys rose, while private banks such as ICICI Bank gained on hopes their quarterly earnings would prove resilient.
MUMBAI, Oct 9- Indian shares recovered on Tuesday from two previous sessions of losses as dented stocks such as Infosys rose, while private banks such as ICICI Bank gained on hopes their quarterly earnings would prove resilient. ICICI Bank rose 1.3 percent, while Infosys. The BSE index provisionally rose 0.4 percent, while the 50- share NSE index rose 0.5 percent.
gains 1.2 percent, while HDFC Bank. *Pharmaceutical stocks such as Cipla. *Cipla gains 1.5 percent while Lupin.
India's benchmark 10- year bond yield. IMF cuts India's growth forecast to 4.9 percent this year, down from 6.1 percent in July, and says the central bank should hold rates unless inflation experiences a sustained fall. India's benchmark 5- year OIS down 1 basis point at 6.96 percent.
gains 0.51 percent, while the 50- share NSE index is up 0.48 percent. *Asian shares rise on Tuesday but were capped by concerns over global growth prospects, especially in the world's second-biggest economy China and expected weak U.S. corporate earnings. gains 1.4 percent, while HDFC Bank.