IDBI shares hit; public banks face bad loans
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.
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Disarray within the Congress burst into the open on Tuesday after its stunning defeat in state elections, with a senior figure saying the party would lose a general election and needed time in opposition to reinvent itself. Article