Reuters Market Eye - IDBI Bank(IDBI.NS) shares fall 1.9 percent, a day after the public sector lender posted a lower-than-expected April-June net profit of 7.71 billion Indian rupees.
Analysts say the lender faced higher provisioning expenses of 5.07 billion rupees in the previous quarter, after gross and net non-performing asset levels rose by 3.2 percent and 2.1 percent, respectively.
Last week state-run lenders, including Punjab National Bank PNBK.NS> and Central Bank of India (CBI.NS) reported a rise in bad loans, sending their shares sharply lower.
Trending On Reuters
Tata Motors shares fell more than 5 percent on Wednesday after a surprise drop in its bottom line, hit by weak demand for luxury Jaguars and Range Rovers in China, where automakers are under pressure to cut prices. Full Article
Factbox - China's leaders sign $80 bln of deals with India, Brazil and others Full Article