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This week, Indian stock markets will likely be influenced by the quarterly earnings reports from key banks including HDFC Bank, ICICI Bank, and Axis Bank, showcasing different profit trends that are capturing investor interest. Traders will also keep a close eye on crude oil price shifts, geopolitical events, and foreign institutional investor movements, as well as the rupee-dollar exchange rate, to determine if the recent market resurgence is sustainable.from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/zJ3GVoH
ICICI Bank has reported a remarkable 20.1 percent surge in standalone net profit for Q2 of FY 2026-27. This impressive performance is further highlighted by a 22.28 percent increase in consolidated net profit, which reached Rs 16,333.18 crore. Year-on-year, net interest income rose by 17.7 percent, alongside significant growth in advances and deposits, while asset quality improved with a drop in the gross non-performing asset ratio to 1.20 percent.
HDFC Bank's Deputy Managing Director, Kaizad Bharucha, has announced his resignation, effective December 31. This move precedes Anup Bagchi's appointment as the new Managing Director and CEO. In the latest reports, HDFC Bank has demonstrated remarkable profitability shifts this July to September, reflecting improved asset quality and a surge in net profit. Bharucha's resignation awaits approval from the Reserve Bank of India, as it has been accepted by the board.
In a recent case before the ITAT Mumbai, the Income Tax Department carried out searches at a woman's residence and bank lockers, and seized diamonds, gold and silver articles, along with jewellery, which it treated as unexplained assets. The seized items included gold jewellery of 427.71 grams, 258 grams of pure gold, diamond-studded jewellery containing 161.33 grams of gold, and articles made of a silver mixture weighing 11.200 kg.
