Q3 Results today: ICICI Bank, Kotak Mahindra Bank, IREDA, others to announce Q3 earnings

Q3 results today: The usual trading session for the domestic benchmark equity indices, Nifty 50 and Sensex, will continue today, with the markets being closed on Monday, January 22. Investors will be watching a slew of banks' Q3 earnings throughout today's session, as well as the stock reactions of firms like Reliance Industries Ltd. and Paytm, among many others, who released their Q3 results after market hours on Friday, January 19.

Also Read: Nifty 50, Sensex today: What to expect from Indian stock market in trade on January 20

On Friday's trading session buying in various sectors led by positive global cues helped the Nifty 50 and the Sensex end with strong gains. Compared to the benchmarks, midcaps and smallcaps had better gains. When compared to the Smallcap index, the BSE Midcap index rose by 1.06%.

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Analysts say that the fact that Nifty ended a three-day losing skid was a good thing that happened on Friday. The benchmark sharply recovered, signalling 'lack of bearish conviction,' as the bulls rallied. This is crucial.

Today, a handful of major banks will be releasing their Q3 results, including ICICI Bank Ltd, IDBI Bank Ltd, IDFC First Bank Ltd, Kotak Mahindra Bank Ltd, and Union Bank Of India.

Also Read: Stock market today: Nifty 50, Sensex snap 3-day losing run; investors earn ₹4 lakh crore in a day

Approximately 40 companies will release their December quarter results today - 3p Land Holdings Ltd, Aarti Surfactants Ltd, Abc Gas (International) Ltd, Can Fin Homes Ltd, Comfort Fincap Ltd, Comfort Intech Ltd, Esha Media Research Limited, Gothi Plascon (India) Ltd, High Energy Batteries (India) Ltd, Indo Credit Capital Ltd, Indian Renewable Energy Development Agency Ltd (IREDA), ISF Ltd, Jammu & Kashmir Bank Ltd, J.K.Cement Ltd, Kewal Kiran Clothing Ltd, Kotak Mahindra Bank Ltd, Lkp Securities Ltd, Mangalam Industrial Finance Ltd, Markobenz Ventures Ltd, Netlink Solutions (India) Ltd, Persistent Systems Ltd, Pil Italica Lifestyle Ltd, Precision Containeurs Ltd, Rajratan Global Wire Ltd, Rossari Biotech Ltd, Seshasayee Paper & Boards Ltd, Suvidha Infraestate Corporation Ltd, Sportking India Ltd, Supreme Infrastructure India Ltd, Suraj Products Ltd, Swastika Investmart Ltd, Tatva Chintan Pharma Chem Ltd, Tilak Ventures Ltd, Trishakti Industries Ltd, Vardhman Concrete Ltd, and Waaree Renewable Technologies Ltd.

Also Read: Reliance Q3 Results Highlights: Net profit up 11% to ₹19,641 crore; O2C revenue down, retail, telecom arms thrive

ICICI Bank Ltd

The second largest private sector lender in India, ICICI Bank is expected to report decent earnings for the third quarter of FY24 with strong net profit and net interest income (NII) growth supported by healthy fee income, stable cost ratios to and benign credit costs. Margin compression is likely to be visible in Q3FY24.

ICICI Bank Q3 net profit on a standalone basis is expected to rise 20.3% to around ₹10,000 crore from ₹8,312 in the same quarter of last fiscal year, as per average brokerage estimates. Healthy fee income and stable cost ratios is likely to support Pre-provisions operating profit (PPOP) growth.

ICICI Bank’s net interest income (NII), which is the difference between interest earned and interest paid, during the third quarter of FY24 is expected to rise 12.2% to ₹18,478 crore from ₹16,465 crore in the corresponding quarter of last fiscal year, as per brokerage estimates.

Also Read: ICICI Bank Q3 Results LIVE Updates: Net profit likely to rise 20%, NII to grow 12% YoY; margin may compress

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