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"HDFC BANK, JUSTDIAL ,KOTAK BANK RESULT EYED "
Monday we will see quarterly results
of HDFC Bank Kotak Bank & Federal Bank Besides,
Chennai Petroleum, Compucom, Cupid, Goa Carbon,and Bank of Maharashtra, Can Fin
Homes, HFCL, Hindustan Zinc, Just Dial will announce their
October-December results.Hdfc bank is the second
largest private sector lender of country now we expected to report more than 20 %
year-on-year growth in profit for the quarter ended December 2019, partly
driven by lower tax cost & in Kotak Bank We expect gross NPL
ratio @ 1.5 % of loans, which is a marginal increase qoq. The bank is likely to
utilize the contingent provisions for any slippage from the corporate portfolio
in stock Brokerages remained bullish & it is one of their top picks among
banks. The stock rallied 3.6 % during the quarter and gained more than 20
percent in last one year.The
market's expectation for Budget 2020 is solid given the government's vision to
push the slowing economy, support industries, increase cash in hand of
common-man and increase rural income to boost consumption.The market
also expects sector-specific goodies for segments such as auto,
infra, realty, aquaculture and housing. Scrappage policy is expected for auto,
which may be announced outside the Budget while the future focus will be on
electric vehicles (EVs). The market may be
a bit inspective given the fudging of the past two years of budgeting while
real performance was sluggish. But at the same time, it is commendable that the
market feels that a large part of the sudden hike in inflation is due to a
sudden one-time increase in prices of specific food items and oil which will
subside in the next two to three months . To take further
direction the market may want to see more of the ongoing Q3 results, given the
marginally higher non-performing assets in recent bank results and actual
Budget outcome.
