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Indian benchmark indices decline on Wednesday

Indian benchmark indices decline on Wednesday

India Blooms News Service | | 03 May 2017, 09:36 pm
Mumbai, May 3 (IBNS): The Indian market ended in negative territory on Wednesday with BSE Sensex down 26.38 points at 29894.80 and NSE Nifty down 1.85 points at 9311.95.

Among the key stocks that gained were TCS, Infosys, Bharti Infratel, PowerGripd Corp, Coal India, HUL, UltraTech Cement and Bajaj Auto while Lupin, Aurobindo Pharma, HDFC, ICICI Bank, Hindalco, Zee Entertainment, Tata Power, Tata Motors and Tata Steel declined.

ICICI Bank, India's largest private sector lender published its fourth quarter results on Wednesday. 

The company said that its standalone profit jumped 188.4 per cent to Rs 2,024.6 crore, largely driven by net interest income and lower provisions but it was capped by a decline in other income and operating income.

ICICI Bank's bad loans increased sharply, which the company attributed to one account in cement sector, according to media reports.

The company reported that deposits at the end of March quarter stood at Rs 4.9 lakh crore, up 16.3 per cent compared with the same quarter last year.

CASA deposits grew by 28 per cent to Rs 2.46 lakh crore from the year-ago quarter, with CASA ratio improving to 50.4 per cent in March 2017 (from 49.9 per cent in December 2016 and 45.8 per cent in March 2016).