IDFC First Bank, a result of the merger between IDFC Bank and IDFC Capital First, has reported a slight increase of 2 basis points in its gross NPA level and an improvement of 11 basis points in its net NPA level. Shareholders of IDFC will receive 155 equity shares of ₹10 each in IDFC First Bank for every 100 equity shares held. Other stocks such as Welspun Enterprises, Dr Reddy's Laboratories, and Tata Power Company may also experience price movement today.
Several major Indian banks, including Axis Bank, RBL Bank, HDFC Bank, Bandhan Bank, ICICI Bank, UCO Bank, Bajaj Housing Finance, and IndusInd Bank, have reported their Q2 earnings, with varying levels of success. While Axis Bank and Bajaj Housing Finance saw profits surge, RBL Bank and IndusInd Bank shares plunged due to disappointing earnings. HDFC Bank and ICICI Bank also reported positive but more modest profit increases, while UCO Bank saw an improvement in bad loan recovery through the NCLT process. The mixed results, combined with global market trends, are driving the overall market sentiment.