Still robust: Strong loan growth at HDFC Bank, India’s largest private lender by assets, saw most of the banks beat estimates, even as they continued to set aside more money for bad loans. — Bloomberg
NEw DELHI: Having propelled the benchmark gauge almost 10% this week in a budget-driven rally, stock bulls in India are now counting on earnings to be the catalyst for the next leg up.
The 34 NSE Nifty 50 Index members that have declared December-quarter results have posted a 34% jump in earnings from a year earlier, according to a note from local brokerage Kotak Securities Ltd.
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