Global fund managers remain bullish on the Japanese stock markets, which is now their most preferred destination in the Asian region.
Both Morgan Stanley and Jefferies in their recent reports, have cited their preference for the Land Of The Rising Sun, which is fast becoming the land of the rising equities, too.
Brokerages bullish on ICICI Bank stock after Q4 results rediff.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rediff.com Daily Mail and Mail on Sunday newspapers.
HDFC Bank s January-March quarter result, which came in-line with expectations, failed to enthuse investors.
The reason? The management s decision to abstain from providing any specific growth guidance, and analysts expectations of an arduous road to recovery.
Analysts believe the path to normalisation of several growth metrics is unlikely to be a straightforward one, and the road to balance sheet realignment may be long.
ICICI Bank on Saturday said its March quarter consolidated net profit grew 18.5 per cent to Rs 11,672 crore, helped by lower provisions.
On a standalone basis, the second largest private sector lender showed a 17.4 per cent growth in its profit after tax at Rs 10,708 crore for the reporting quarter against Rs 9,122 crore in the year-ago period.
For fiscal 2023-24, its standalone net profit grew to Rs 40,888 crore from Rs 31,896 crore a year ago.
Yes Bank on Saturday reported over two-fold jump in standalone net profit at Rs 452 crore for March quarter 2023-24, primarily due to benefits on the provision front.
In the year-ago quarter, the bank logged a profit of Rs 202.43 crore.
The private sector lender benefitted from write-back on income tax and interest on income tax returns, but the profits were limited by its inability to comply with the mandatory priority sector lending (PSL) requirements, its management said.