Latest news with #AnitaGandhi
Business Recorder
22-07-2025
- Business
- Business Recorder
HDFC Bank, ICICI Bank lead Indian stock higher
MUMBAI: India's benchmark indexes rose on Monday, boosted by strong earnings from heavyweights HDFC Bank and ICICI Bank, while a decline in Reliance Industries, amid concerns over softness in its oil-to-chemicals and retail segments, capped some gains. The Nifty 50 added 0.49% to 25,090.7, while the BSE Sensex rose 0.54% to 82,200.34. Eight of the 13 major sectors logged gains, with heavyweight financials' 1.6% rise leading the gains. India's top two private banks, HDFC Bank and ICICI Bank, gained 2.2% and 2.8%, respectively, after posting stronger-than-expected June quarter profit. HDFC Bank also announced its first-ever bonus share issue. 'Robust earnings from ICICI Bank and the bonus issue by HDFC Bank lifted market sentiment and drove gains, though Reliance's mixed performance kept a lid on the rally,' said Anita Gandhi, founder and head of institutional business at Arihant Capital Markets.
Business Recorder
21-07-2025
- Business
- Business Recorder
HDFC Bank, ICICI Bank lead India's stock benchmarks higher, Reliance caps gains
India's benchmark indexes rose on Monday, boosted by strong earnings from heavyweights HDFC Bank and ICICI Bank, while a decline in Reliance Industries, amid concerns over softness in its oil-to-chemicals and retail segments, capped some gains. The Nifty 50 added 0.49% to 25,090.7, while the BSE Sensex rose 0.54% to 82,200.34. Eight of the 13 major sectors logged gains, with heavyweight financials' 1.6% rise leading the gains. India's top two private banks, HDFC Bank and ICICI Bank, gained 2.2% and 2.8%, respectively, after posting stronger-than-expected June quarter profit. HDFC Bank also announced its first-ever bonus share issue. 'Robust earnings from ICICI Bank and the bonus issue by HDFC Bank lifted market sentiment and drove gains, though Reliance's mixed performance kept a lid on the rally,' said Anita Gandhi, founder and head of institutional business at Arihant Capital Markets. Reliance Industries, which reported a quarterly profit beat, lost 3.2%, after multiple brokerages flagged weakness in its oil-to-chemicals and retail businesses. The stock dragged the oil and gas index 1.1% lower. Financials, IT drag India's equity benchmarks to third weekly loss The broader small-cap index ended flat, pressured by post-earnings declines in Newgen Software and Indiamart Intermesh, while mid-caps rose 0.6%. 'While strong macro fundamentals, a steady monsoon, and healthy domestic flows support the market setup, trade deal uncertainty with the U.S. will likely keep indices range-bound in the near term,' Gandhi said. Last week, U.S. President Donald Trump said a deal with India was very close, ahead of the August 1 deadline. Metal stocks gained about 1% on expectations of additional stimulus from China. Among other stocks, Bandhan Bank lost 2.4% on a steeper-than-expected drop in profit due to bad loan provisions spiking. Anthem Biosciences listed at a nearly 27% premium to its issue price and closed 28.1% higher in debut trade. UltraTech Cement closed 0.5% higher after a quarterly profit beat while Eternal surged 5.6% on June quarter revenue spike.
