2 May 2017
HDFC Bank, TCS Kotak Mahindra Bank - all doing well
We have seen the first run of quarterly results affecting stocks in our portfolio. Infosys opened with sales ahead by 3.4% annualized and profits more or less flat. The company announced that it will increase its payout ratio to 70% in dividends and share buybacks. Continuing with the tepid trend in the sector, TCS reported sales ahead by 4.2% and profits by 4.2%. HDFC Bank raised the tempo a bit with an advance of 21.3% in net interest income and 18.3% in profits. The top private sector bank’s board authorized issuance of nearly $8bn in debt instruments over the next 12 months through private placements. Kotak Mahindra Bank vindicated our long-held confidence with a 16% gain in NII and a 40% jump in profits. Supreme Industries suffered slightly from a demonetization effect, with sales ahead by just 7.7% but profits jumped by 20.1%.
Posted by #richardneve at 5/02/2017