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IDFC First Bank shares decreased by 7.2% following a 15% YoY decline in net profit due to higher bad loan provisions in microfinance. Despite a 14% increase in net interest income, the bank was impacted by elevated credit costs and operational expenses. Gross NPA ratio improved from 2.04% to 1.94%.
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Shakti Pumps shares dropped by 5% to Rs 1,084.70 on the BSE despite a 130% YoY increase in net profit for Q3 2024. The company posted a net profit of Rs 104 crore and a revenue surge of 31%. However, the stock remains below its critical moving averages.
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With a 2% negative return so far, January appears to end the same way as December which also closed 2% down. But despite the consecutive negative months, it must be noted that unlike October 204, which saw a 6.2% fall, the subsequent months close have not been too deep in the red, pointing to the presence of buying interest.
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News and Media
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