A trader reacts as he monitors financial information on computer screens on the trading floor. (Photographer: Chris Ratcliffe/Bloomberg)

Sensex, Nifty Clock Worst Three-Day Decline In Over A Month

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Closing Bell: Sensex Falls 64 Points, Nifty Holds 10,650

Indian equity benchmarks clocked their worst three-day performance in over a month led by declines in Reliance Industries, HDFC twins and Larsen & Toubro.

The S&P BSE Sensex fell 0.18 percent or 64 points to 35,592 and the NSE Nifty 50 Index declined 0.1 percent or 9 points to 10,652.

Eleven of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Energy Index's 1.2 percent decline. On the flipside, S&P BSE Telecom Index was top gainer, up 1 percent.

Mid- and small-cap shares ended mixed as the S&P BSE MidCap Index rose 0.4 percent while the S&P BSE SmallCap Index declined 0.1 percent.

Indiabulls Housing Finance Rebounds 15% From Day's Low

Shares of the Mumbai-based mortgage lender rebounded as much as 15 percent from intraday low levels to hit high of Rs 750 on heavy volumes.

Trading volume was more than triple its 20-day average, according to data compiled by Bloomberg.

Sensex, Nifty Clock Worst Three-Day Decline In Over A Month

Dewan Housing Extends Decline To Second Day, Slumps 19%

Shares of the Mumbai-based mortgage lender extended decline to second and fell as much as 12.76 percent intraday to Rs 161.30.

In the last two trading sessions, the stock has fallen 19 percent.

Bajaj Finance Rebounds After Profit Rises 48% In Q3

Shares of the Pune-based consumer finance company rose as 1.8 percent to Rs 2,505 after its profit surpassed Bloomberg consensus estimates in December quarter.

Key earnings highlights:

  • Net interest income up 42 percent at Rs 3,094 crore versus Rs 2,182 crore (YoY); Estimate of Rs 2,880 crore.
  • Net profit up 48 percent at Rs 1,023 crore versus Rs 692 crore (YoY); Estimate of Rs 990 crore.
  • Other income at Rs 8.27 crore.
  • Gross NPA at 1.55 percent versus 1.49 percent (QoQ)
  • Net NPA at 0.62 percent versus 0.53 percent (QoQ)
  • Provision up 44 percent at Rs 454 crore versus Rs 315 crore (QoQ)
  • Assets under management rose 41 percent to Rs 1.09 lakh crore versus Rs 78,033 crore

HDFC Struggles After Profit Miss Estimates In Q3

Shares of the country's largest mortgage lender continue to trade on a weak note after its profit missed Bloomberg consensus estimates in December quarter.

Key earnings highlights:

  • Net profit down 60 percent at Rs 2,114 crore versus Rs 5,300 crore (YoY); Estimate of Rs 2,210 crore.
  • Had exceptional gain of Rs 3,675 crore in base quarter on account of HDFC Life IPO.
  • Net interest income up 17 percent at Rs 3,191 crore versus Rs 2,736 crore. (YoY)
  • Revenue up 20 percent at Rs 10,450 crore versus Rs 8,679 crore.
  • HDFC approves proposal to issue debentures of up to Rs 45,000 crore
  • Ireena Vital, of Mckinsey and Co, appointed to the board of directors of HDFC for a period of five years.

Keki Mistry, MD and CEO of HDFC in a media briefing says:

  • Growth for individual loan book stands at 17 percent.
  • Non-individual loan book grew by 9 percent.
  • Total loan book has grown 9 percent to Rs 3.85 lakh crore in December quarter from Rs 3.42 lakh crore. (YoY)
  • Net interest margin (NIM) has rises to 3.5 percent in December quarter from to 3.3 percent. (YoY)
  • NIM including securitisation income.
  • During third quarter, HDFC sold Rs 6,959 crore of individual loans.