Indian Stock Market Reviews 13 January 2016

INDORE, India - Jan. 13, 2016 - PRLog -- The Indian equities recovered smartly in delayed trades to close upper in unstable trade on Wed. among value purchasing by shareholders despite bad worldwide data. Firm signs from Asian peers joined with optimistic closing of the US stocks overnight also gave a increase to market sentiment back home.

Breaking 2-day sufferers, the 30-unit BSE SENSEX closed at 24825.04, drop by 109.29 points or by 0.44%, and the NSE Nifty closed 37.5 points lesser at 7563.85. In the choppy trade today, the BSE Sensex touched day high of 24956.54 and day low of 24387.69, while the NSE Nifty tapped day high of 7590.95 and day low of 7425.8, correspondingly.

KARUR VYSYA BANK Q3 NET SURGES 34.2% AT RS 152.83 CR

Private segment lender Karur Vysya Bank Ltd on Wed. reported a increase of 34.2% in its standalone net revenue for the Q3 closed Dec. 31, 2015 at Rs 152.83 crore, on account of lesser provisions for terrible loans. The bank had posted net revenue of Rs 113.88 crore in matching quarter of last fiscal, said Karur Vysya Bank Ltd in a filing to the BSE on January 13, 2016.

Further, total income of the bank improved slightly by 0.9% to Rs 1,525.14 crore in Oct-Dec time of present monetary year from Rs 1,511.80 crore in third quarter FY15. In the quarter, provisions (other than tax) and contingencies reduced considerably to Rs 92.74 crore from Rs 126.02 crore in last quarter and from Rs 106.15 crore in the corresponding quarter of previous fiscal.

On the asset quality front, the bank’s gross non-performing assets (Gross NPA) stayed steady at 1.91% of total loans. However, net NPA of the bank raise to 0.96% against 0.73% in related time previous year. NII, the disparity amid interest earned on loans and interest paid on deposits, raise 14.6% at Rs 448.2 crore versus Rs 391.07 crore in the year ago time. Non-interest income hoped 17.4% to Rs 172.78 crore from Rs 147.14 crore in the same time a year ago.

BSNL TO LAUNCH 4G SERVICES IN CHANDIGARH

State-run BSNL is beginning its 4G services in Chandigarh with broadband speed of up to 100 Mbps on mobile phones. The company has released an advertisement in local newspapers about the launch of its 4G services.

"Now enjoy lightening speeds up to 100 Mbps on mobile, home fixed phones and for enterprise," the advertisement said. BSNL has 4G spectrum crossways India except in Gujarat, Maharashtra, Andhra Pradesh, Karnataka, Tamil Nadu and Kolkata. The company has also entered into a contract with Reliance Jio, which holds pan-India 4G airwaves, to offer high speed services to its clients.

BHARTI AIRTEL DIPS NEARLY 2% POST STAKE SALE IN AFRICAN BIZ

Stocks of Bharti Airtel chop nearly 2%, paring early increases, on the BSE after the country’s top telecom operator declared to sell stakes in 2 African operations to French telecom Major Orange. The company in a filing to exchange said that the company’s abroad subsidiary Bharti Airtel global (Netherlands) BV has signed a contract with Orange to sell 100% equity stakes in Burkina Faso and Sierra Leone.

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