Pioneer In Short

Bihar couple test positive for COVID-19

A 65-year-old man and his 55-year-old wife have tested positive for COVID-19 in Bihar's Bhagalpur district, hospital officials said on Monday. The couple is undergoing intensive medical care at Jawaharlal Nehru Medical College and Hospital (JLNMCH), where a team of doctors is monitoring their condition. The man was admitted to JLNMCH on Sunday after his health deteriorated. He was initially treated at a private clinic before being referred to the hospital after developing COVID-19 symptoms. His infection was confirmed through an RT-PCR test, following which his wife also tested positive. Officials said further surveillance and preventive measures were being carried out in the area.

HDFC Earnings Disappoint Investors

HDFC Bank shares fell over 5 per cent on Monday after the lender's June quarter earnings disappointed investors, particularly on the net interest margin (NIM) front. The stock declined 5.12 per cent to close at Rs 777.65 on the BSE, eroding the bank's market capitalisation by Rs 64,685.58 crore to Rs 11.97 lakh crore. The sharp fall in HDFC Bank shares dragged benchmark indices lower, with the Sensex declining 442.93 points, or 0.57 per cent, to settle at 77,708.52, while the Nifty fell 95.80 points, or 0.39 per cent, to 24,238.50. HDFC Bank reported a 5 per cent rise in standalone net profit at Rs 19,060 crore for the June quarter, compared with Rs 18,155 crore a year earlier. However, total income declined to Rs 92,184 crore from Rs 99,200 crore.

Operating profit also fell to Rs 28,169 crore from Rs 35,734 crore. Net interest income rose 7 per cent to Rs 33,530 crore, while NIM stood at 3.26 per cent on total assets. Analysts said weaker margins and disappointing private bank earnings weighed on investor sentiment.