New Delhi, Jan 30 (SocialNews.XYZ) The BSE Sensex tanked more than 600 points on Tuesday as heavyweights came under selling pressure.
The BSE Sensex was trading at 71,316.28 points, down 625.29 points or 0.87 % on Tuesday.
Bajaj Finance was the top loser, down 5 per cent.
NTPC, Ultratech Cement, Bajaj Finserv, ITC, Titan, Reliance were all down 2 per cent.
Bajaj Finance slumped 5 per cent after quarterly results.
Motilal Oswal Financial Services said in a report that 3QFY24 NIM declined 25bp QoQ to 12.4 per cent while the reported NIM contracted 10bp QoQ.
“We model a NIM compression of 20bp in FY25 due to the expected rise in the cost of borrowings and difficulty in passing on any further interest rate hikes to customers,” it said.
The report pointed to a minor deterioration in asset quality with credit costs elevated. Credit costs were higher due to elevated Rural B2C delinquencies and lower collection efficiencies in Urban B2C segment.
Customer acquisitions and the new loan trajectory have been strong.
The momentum will only get stronger going ahead, with the digital ecosystem – app, web platform, and full-stack payment offerings – in place.
“BAF should be able to offset the NIM compression in FY25 with lower operating cost ratios. Our EPS estimates are largely unchanged,” the report said.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
