Thursday, 4 May 2017

Sensex opens up 150 pts, Nifty above 9350 as ICICI Bank up 5%

Housing finance company HDFC's fourth quarter profit on a standalone basis is likely to fall 23.2 percent to Rs 2,003.2 crore compared to Rs 2,607.1 crore in same quarter last fiscal. The profit in Q4FY16 was boosted by the gain (Rs 1,513.41 crore) on the sale of a stake in HDFC Standard Life Insurance Company to Standard Life Mauritius Holdings. Net interest income, the difference between interest earned and interest expended, may grow 15.3 percent year-on-year to Rs 2,846.4 crore in the quarter ended March 2017.

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