Epic Update HDFC Bank The Sensex is down 150.23 points or 0.5 percent at 27765.66, and the Nifty down 35.00 points or 0.4 percent at 8530.85. About 1154 shares have advanced, 1316 shares declined, and 186 shares are unchanged.
HDFC Bank loses 1 percent after announcing its June quarter results. with the profit rising 20.14 percent year-on-year to Rs 3,239 crore. It was driven by other income, operating profit and slightly better-than-expected net interest income but higher provisions and tax cost limited the profit growth.
Net interest income, the difference between interest earned and interest expended, grew by 21.8 percent to Rs 7,781 crore in the quarter ended June 2016 compared with Rs 6,389 crore in year-ago period, supported by average assets growth of 20.2 percent and net interest margin, the private sector lender said.
Losers in the Sensex are Axis Bank, BHEL, ICICI Bank, Tata Steel and Reliance. Adani Ports, Bharti Airtel, Asian Paints, Coal India and Cipla are gainers in the Sensex.
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