Orlando, FL -- (SBWIRE) -- 08/20/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On ICICI Bank Limited (ADR) (NYSE:IBN), Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ).
ICICI Bank Limited (ADR) (NYSE:IBN) shares climbed 4.14% to $27.95. The Board of Directors of ICICI Bank Limited (IBN) at its meeting held at Mumbai on July 31, approved the audited accounts of the Bank for the quarter ended June 30, 2013.
Standalone profit after tax increased 25% to Rs 2,274 crore (US$ 383 million) for the quarter ended June 30, 2013 (Q1-2014) from Rs 1,815 crore (US$ 306 million) for the quarter ended June 30, 2012 (Q1-2013).
Net interest income increased 20% to Rs 3,820 crore (US$ 643 million) in Q1-2014 from Rs 3,193 crore (US$ 538 million) in Q1-2013.
The Bank’s capital adequacy at June 30, 2013 as per Reserve Bank of India’s guidelines on Basel III norms was 17.04% and Tier-1 capital adequacy was 11.72%, well above regulatory requirements. In line with applicable guidelines, the Basel III capital ratios reported by the Bank for the quarter ended June 30, 2013 do not include the profits for the quarter.
Are investors worried about the recent updates with IBN? Find out with a free trend analysis HERE
Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) stock declined 2.70% to $31.04. Direxion Daily Financial Bear 3x Shares (the Fund) seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the price performance of the Russell 1000 Financial Services Index (the Index).
The Index is a subset of the Russell 1000 Index that measures the performance of the securities classified in the financial services sector of the large cap United States equity market. The Fund invests in sectors, such as banks, diversified financial services, real estate investment trust, financial data and systems, asset management and custodian, securities brokerage and services, and consumer lending.
Is FAZ going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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