Banking Sector

Axis Bank reported a 23% jump in Q1 FY27 net profit to ₹7,114 crore, driven by 8% growth in net interest income, improved asset quality, robust loan growth, and a strong capital position. Here's a detailed look at the bank's June quarter performance.

Indian benchmark indices ended largely unchanged on July 16, 2026, with IT and Auto stocks supporting the market while Realty and Financial Services lagged. Rising Brent crude prices, fresh US-Iran tensions, weak global cues, and profit booking ahead of the Q1 earnings season kept investor sentiment cautious despite selective sectoral gains.

B Financial Services began FY27 on a strong note, reporting a 38% year-on-year jump in net profit to ₹735 crore. Robust loan growth, higher disbursements and steady asset quality helped drive the NBFC's performance during the June quarter.

Fairfax Financial Holdings, led by billionaire Prem Watsa, has reportedly emerged as the leading bidder to acquire a controlling stake in IDBI Bank. If completed, the $5.5-$5.7 billion transaction would rank among India's largest bank privatisation deals and biggest foreign investments in the banking sector.

Union Bank of India posted a robust set of Q1 FY27 earnings, with standalone net profit rising to ₹5,332 crore and asset quality improving significantly. The PSU bank's shares traded over 1% higher after the earnings announcement.

Sensex and Nifty ended nearly flat after recovering from sharp early losses. A strong rally in TCS, HCL Tech, and the IT sector offset weakness in FMCG, metals, and defence stocks amid geopolitical concerns and higher crude oil prices.

Indian markets ended sharply higher on July 10, 2026, with Sensex rising 827 points and Nifty gaining 244 points. Strong TCS Q1 FY27 results, a rally in IT stocks, lower crude oil prices, easing volatility, and positive global cues supported investor sentiment. Realty, PSU banks, and financial stocks also witnessed strong buying during the session.

Bank of Maharashtra posted a robust Q1 FY27 with a 26.8% jump in net profit and healthy loan growth. While asset quality remained stable, the bank reported a decline in net interest margin and a rise in fresh slippages.

Indian Bank delivered a strong Q1 FY27 performance with higher profits, improved asset quality, and credit growth exceeding targets. The bank's GNPA declined to 1.86%, while deposits grew 13.5%.

Bank Nifty climbed more than 1% for the second straight session, supported by broad-based gains across banking stocks. The index is approaching the crucial 58,000 resistance level, with a breakout likely to determine its next major move.