Markets staged a strong advance on Friday and gained over a percent despite weak global cues. Looking ahead, analysts will react to the quarterly results of heavyweights Reliance Industries, HDFC Bank, and ICICI Bank in early trade on Monday, which could dictate market direction. Technically, analysts say the Nifty has rebounded sharply from its key support zone and has breached the 24,300 resistance, indicating renewed buying interest at lower levels.
In today's trade, shares of ICICI Bank, YES Bank, Kotak Bank, RIL, Axis Bank among others will be in focus due to various news developments and first quarter results.
Private sector lender ICICI Bank on Saturday reported a 16% year-on-year (YoY) increase in standalone net profit to Rs 14,805 crore for the June quarter, compared with Rs 12,768 crore in the corresponding period last year. Its net interest income (NII) increased 12.7% to Rs 24,384 crore from Rs 21,635 crore a year earlier.
YES Bank on Saturday reported a standalone net profit of Rs 1,070.99 crore for the April-June quarter of FY27, marking a nearly 34% year-on-year (YoY) increase from the Rs 801.07 crore reported in the corresponding quarter of the previous financial year.
PNB
Punjab National Bank (PNB) on Saturday reported a net profit of Rs 5,253 crore for the April-June quarter of the ongoing financial year 2027, marking a nearly 214% year-on-year (YoY) rise from the Rs 1,675 crore net profit reported in the corresponding quarter of the previous financial year.
Kotak Mahindra Bank on Saturday reported a standalone net profit of Rs 4,123 crore for the April-June quarter of the ongoing financial year 2027, marking a nearly 26% year-on-year (YoY) rise from Rs 3,282 crore net profit for the corresponding quarter of the previous financial year.
Axis Bank on Saturday reported a standalone net profit of nearly Rs 7,114 crore for the April-June quarter of FY27, marking a 22.5% year-on-year rise from the Rs 5,806 crore reported in the corresponding quarter of the previous financial year.
RIL
Mukesh Ambani-led Reliance Industries Ltd (RIL) on Friday reported a 22% year-on-year (YoY) decline in its consolidated net profit at Rs 20,946 crore for the first quarter. The fall in profit was due to an exceptional item that came about due to sale of Asian Paints stake in the comparable period last year. The PAT was Rs 26,994 crore in the year-ago quarter.
Biscuits maker Britannia Industries is strengthening its regional strategy and localising products to compete more effectively with the emerging regional players, Managing Director and CEO Rakshit Hargave said.
