HDFC Bank

Infosys was the top loser at Rs 640 per share -- down by 16.65 per cent -- a day after an anonymous group calling itself 'ethical employees' alleged in a letter to the board of Infosys and the US Securities and Exchange Commission (SEC) that the company is taking unethical steps to boost short-term revenue and profits.

Net interest income during the quarter grew by 14.9 per cent to Rs 13,515 crore year-on-year with loan growth at 19.5 per cent as compared to the same period last year.

Meanwhile, Asian indices traded marginally higher as market participants watched for developments on the US-China trade front ahead of high-level negotiations.

The other prominent winners were IndusInd Bank, Bajaj Finance, State Bank of India, UltraTech Cement and Titan. All of them saw gains ranging between 8.7 to 10.7 per cent each.

Net interest income (interest earned less interest expended) for Q1 FY20 grew by 23 per cent to Rs 13,294 crore from Rs 10,814 crore, driven by asset growth and a core net interest margin for the quarter of 4.3 per cent, the bank said in a statement.

The Reserve Bank of India (RBI) has imposed a fine of Rs one crore on private sector lender HDFC Bank for violation norms relating to know-your-customer (KYC), anti-money laundering and reporting of frauds.

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