ICICI Bank reports good numbers in Q1

ICICI Bank, India's biggest private sector bank, has posted a profit of Rs 1,908 crore in June quarter. 

The bank had posted a loss of Rs 120 crore in the year-ago period and a profit of Rs 969 crore in the previous quarter. 

Net interest income grew  by 27 percent year-on-year to Rs 7,737 crore for quarter that ended on June 2019 with healthy loan growth of 15 percent YoY.

The stock closed at Rs 416, up Rs 7 in Friday's closing.

GLOBAL RANKING : RIL top ranked Indian company

Reliance Industries  has become the top-ranked Indian company to feature in the latest Fortune Global 500 list.

The oil-to-retail major has toppled state-run Indian Oil Corporation  as the top-ranked Indian company.

RIL has attained a rank of 106 in the latest list, recording an improvement of 42 positions from its previous ranking.

On the other hand, IOC improved its position to 117th rank, registering a jump of 20 spots.

Other Indian companies in the Fortune Global 500 list include ONGC (160), State Bank of India (236), Tata Motors (265), Bharat Petroleum (275) and Bangalore based Rajesh Exports is at 495.

IPO ANALYSIS: AFFLE INDIA LIMITED - AVOID

Issue Details :

Issue opens /closes on	29-07/31-07-2019
Issue size	Rs 459 Cr
Face value	Rs 10
Price Band	Rs 740-745
Business	Technology - consumer intelligence  platform that delivers consumer acquisitions, engagements  and transactions through  relevant mobile advertising / E commerce.
Promoters	ANUJ KHANNA SOHUM AND AFFLE HOLDINGS PTE. LTD
Listing	Bse, Nse
BRLM	ICICI Securities, Nomura
Registrar	Karvy

Await detailed analysis.

Axis Bank to raise Rs 9000 Cr, appoints merchant bankers

 Axis Bank has appointed investment banks Citigroup, JP Morgan and Axis Capital to help it raise up to Rs 9000 Cr through a share sale, said a person aware of the development.

The bank plans to raise the funds through a qualified institutional placement  offering by selling shares to institutional investors. It will help the bank shore up its capital adequacy ratio and push for lending growth.

Axis Bank closed at Rs 768, down Rs 18 in yesterday's trade.