We are mid way through the earnings season and clearly thus far banks have outperformed. HDFC Bank reported one more quarter of 30 per cent growth, once again meeting market expectations. India's second largest private sector bank in India, reported 30 per cent increase in its net profit to Rs 1889 crore, in line with expectations.
Among the other private sector banking names, IndusInd Bank outperformed its peers, with a superlative set of numbers for the the quarter ending March 31. The company reported a 38 per cent jump in net profits to the surprise of analysts and investors. The margins of the company were also higher.
The eagerly awaited quarterly result numbers would be from the public sector or government owned banks. The only government majority owned Bank to have declared numbers so far, have been IDBI Bank and Vijaya Bank. The latter reported decent numbers, which is why the share price climbed following the announcement of its results. IDB Bank's financials were in line with estimates.
Some of the other big banking names have yet to declare their results. Prominent among them being State Bank of India, Punjab National Bank and Bank of Baroda.
Results of FMCG major Hindustan Unilever, would also be eagerly watched to see if the company continues to report loss in margins. The company is expected to deliver results this week. Also awaited would be the results of Larsen and Toubro, particularly as investors would wait to watch the order book.