The country’s largest mortgage lender HDFC’s second quarter was in line on all fronts. NII/Core PPOP grew 3.6%/4% q-o-q as NIM (reported) remained flat q-o-q at 3.4%. This was primarily because of the lag in transmission of rate increases (on account of the quarterly reset), which we continue to believe is largely transitory and should normalise. Assets under management (AUM) growth improved t...

EIM’s Q3 EBITDA rose 35% q-o-q, but fell 13% y-o-y and was 13?low JEFe. RE volumes rose 37% q-o-q, but gross-profit-per-vehicle fell 8% q-o-q on lower share of exports. Ebitda-per-vehicle was up 5% q-o-q despite bunched-up marketing spend. We see multiple positives for RE: urban 2W recovery, industry premiumisation, export growth, limited competition and low risk of EVs. However, volume ramp-up ...

New Delhi | Mumbai: HCL Technologies NSE 0.22 % Ltd. grew the fastest among India’s large IT firms in the third quarter, benefiting from a surge in deals from customers globally.On Friday, the Noida-based company said its revenue grew 7.6% sequentially in dollar terms, its fastest growth in 12 years, in the seasonally weak October-December quarter. On the same metric, the revenue of InfosysÂ...

MUMBAI : Cement demand saw a healthy uptick in June with ease of economic restrictions in several states. However, extreme rains in select pockets especially in eastern and western regions impacted economic activities, said Reliance Securities Ltd.According to channel checks done by the brokerage firm, cement sales volume improved by 10-30% on a monthly basis in June supported by pre-monsoon and p...