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ICICI Q4 Earnings at al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
May 8, 2018 12:00 PM 1 min read
Editorial

End of Day Wrap-up (Tuesday / May 08, 2018) #ICICIBank #Jaypee #Flipkart #Comcast #Fox #ElonMusk #Tesla #Transfin

Editor's comment: ICICI Bank reports Q4 earnings of INR1,020cr, c.50% lower yoy due to INR6,626cr provision charge. Gross NPA ratio at 9.9% vs. 8.6% prior quarter. CEO Chanda Kochhar side-steps questions on her conflict of interest charge during Analyst Q&A. Board to meet today but conflict charge not on agenda.   

 

BlackRock to sell its 40% stake in its Mutual Fund joint venture DSP BlackRock to DSP Group and exit the Indian Mutual Fund sector. Nomura, Deutsche Bank, Merill Lynch, Goldman Sachs, and JP Morgan are other foreign entrants who have exited Indian MF sector over the past decade.

 

Promoter pushes for revival plan to retake Jaypee Infra, including INR230cr haircut to lenders and possession to homeowners by 2021.

 

Flipkart reportedly positioning itself for a c.$1bn of M&A plan post conclusion of Walmart transaction. In conversation with BookMyShow, Swiggy, UrbanClap etc. to broaden ecosystem while competing with Amazon. 

 

Comcast pushes to make all-cash offer to acquire Twentieth Century Fox's media assets up for sale to Walt Disney. As per reports Rupert Murdoch, 17% owner of Fox prefers the transaction to be all-share to make it non-taxable. 

 

Elon Musk buys $9.85m of Tesla stock, expanding his stake to 20% as he goes against short-sellers.