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Axis Bank Drops 4% On Profit Booking After September Quarterly Results



Axis Bank

Shares of Axis Bank fell 4 percent to Rs 808.55 on the BSE in Wednesday’s intra-day trading on earnings postings after the bank reported weak operating performance in the September quarter (Q2FY22). In the past three weeks, the private sector lender rose 8 percent. The stock had hit an all-time high of Rs 867 on Monday, October 25, 2021.

In Q2FY22, Axis Bank’s net interest income (NII) rose modestly by 7.8 percent year-on-year (yoY) to Rs 7,900 crore as a result of 19 bps YoY decline in net interest margins (NIMs) to 3.39 percent. Margins were sequentially negatively impacted by 13 bp due to a change in mix.

The bank posted an 86 percent year-over-year growth in net profit of Rs 3,133 crore in Q2FY22, mainly due to robust growth in commission income and a sharp decline in provisions. Axis Bank had posted a net profit of Rs 1,683 crore in Q2FY21. Credit growth for the quarter was 10.1 percent year-on-year to Rs 6.2 trillion, mainly driven by a 16 percent year-on-year increase in private loans. Deposit growth was healthy at 18.1 percent year-on-year and 3.1 percent quarter-on-quarter at Rs 7.3 trillion.

The asset quality profile improved with gross non-performing assets (gross NPAs) declining to 3.53 percent in Q2FY22, from 4.18% in Q2FY21. Net NPAs rose marginally to 1.08 percent in Q2FY22, from 0.98 percent a year ago. The provision coverage ratio was 88 percent at the end of Q2FY22, compared to 88 percent at the end of Q2FY21.

The bank has recorded slightly lower credit growth than comparable competitors and the contraction in margins can also be seen as a minor minus. While the long-term outlook remains good, we believe the price could undergo some correction in the near term, especially given its recent gains, ICICI Securities said in a note.

“Axis Bank delivered a weak core operating performance in Q2 22, led by a decline in margins, higher revenue and slow business growth. Controlled provisions, however, ensured that the bank’s result exceeded our estimate. On the other hand, Axis Bank’s asset quality was stable, supported by higher recoveries and upgrades, while slippages remain high. The total restructuring was controlled on about 0.7 percent of the loans,” Motilal Oswal Securities said in the results update.

The brokerage firm expects the trend of heightened slippages from H2FY22 to subside, leading to lower credit costs. A healthy PCR of about 70 percent, coupled with an additional provisioning buffer of 2.1 percent, is likely to protect the bank’s balance sheet from potential stress. “We have cut our FY22/FY23E earnings estimates by 6 percent/4 percent to reflect higher operating expenses and lower NII, and remain vigilant for a recovery in the bank’s corporate earnings. We estimate that Axis Bank will deliver a RoA/RoE of 1.5 percent/14.6 percent in FY23,” the brokerage firm said.

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Facebook’s flaccid attempts to get my attention make it clear: It’s time to leave | Eleanor Margolis




lIt’s 2 a.m. and in the past hour I’ve relived an entire decade of my life. As far as I know, it was a phenomenally stupid decade. If my Facebook photos have anything to offer, I’ve spent all of uni honking my friends’ boobs and putting things on my head. I then spent my early to mid-twenties dressed stupidly, in the company of a lot of people I can barely remember now. My God, the Hat phase. There I am in a fedora at Pride; leaner and prettier, but I’m clearly having trouble defining my “look”.

This is the longest I’ve spent on Facebook in about four years. In the end I decided to delete it. When I was in my thirties, it started to stress me that my profile still exists. Drunk photos of me on display in front of people I haven’t thought of in ten years. Whatever teen I thought was worthy of a status update Outside, searchable, discoverable, only obscured by privacy settings I don’t fully understand.

It’s hard to say exactly what got me off the platform in the first place, but I remember it starting to smell a bit. It was like it turned sour. It started to look like a digital nursery for boomers and people in pyramid schemes, run by the dead-eyed and unpassionate Mark Zuckerberg – a person about as cool as a middle-aged geography teacher in a retarded cap, who raps about saying no to cigarettes. . It was all a bit depressing. Scrolling through Twitter, at least me feeling something (usually burning anger). But Facebook seemed like an eternal 2010: indifferent, comfortable and two.

And the less time I spent on Facebook, the more notifications I seemed to get. I started getting notifications for everything. A girl I’d met in line at the restroom eight years ago sold a drying rack. Someone I was in school with that I didn’t really like went to a prison themed club night. And these things I needed to know, because Zuckerberg was tangibly desperate for my attention. Perhaps even more so now with the rebranding of “Meta”, and the persistent push for a massive move to the “Metaverse”.

But the task ahead – now – is to stay on this godforsaken platform until I’ve dragged and dropped every photo worth keeping to my desktop. I remember switching from Myspace to Facebook around 2007 when I was 18. Facebook seemed a bit more mature. It was more streamlined and there was much less room for the kind of customization that would result in a sudden glare from a moving background and a bang from Mr Brightside. But with its “poke” feature and this newfangled idea of ​​posting your “status”, Facebook somehow managed to convince all of us that it was fun.

I shared life-changing events on Facebook. I posted about new jobs and relationships. I came up with my “wall”. One of my last statuses was in 2017, when my mother died. And yet when I look through the thousands of photos of me on the platform, they are full of people I can hardly name right now. Even at birthday parties, people pop up who make me wonder if I’m looking at my life in an alternate universe. “Who is that?” I keep saying it to myself. In part, this may be glaring evidence of how bad I am at maintaining friendships. For example, I am one of the few people I know who has now lost touch with everyone they knew in college.

It’s not all wasted time, of course. I’m starting to cry a bit from the photos of an Interrailing trip I took with my uni roommates when I was 19. There we are, posing on a bridge in Budapest, and – on a hot day – standing in the middle of the Louvre Fountain. The inside jokes are starting to flow back.

I realize that Facebook like almost nothing else includes the “bater” that defined the 2007-2012 era. Which is perhaps not surprising for a social media site that started out as a place for students to rate the attractiveness of their female classmates. When it went mainstream, it carried on that basic philosophy of creepiness, like the Olympic torch. At a time when your friends tagged you in photos of you practically dying of alcohol poisoning, this was the last moment when social media was more identity than ego. It was fomo-inducing, but rarely ambitious.

Before I hit the last “delete” on my page, I’m going through my hidden messages – those of people I’m not friends with. One from a guy I don’t know, from 2016, just says “bitch”. I consider answering for a moment before realizing how much of a depressing act that would be.

There’s nothing left here for me, I think to myself, as I bid farewell to a digital decade.

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189 Best Amazon Cyber Monday Deals in 2021: Jaw-Dropping Discounts on Clothing, Tech, Home Goods, and More





Right on schedule, the best Amazon Cyber Monday deals 2021 has to offer are rolling in strong. Whether you’re looking to melt the world away with noise-cancelling headphones, breeze through your house chores with a robot vacuum, air fry literally everything in your kitchen, level up your skincare and wardrobe game, or get a jump on your holiday shopping, the Everything Store has, well, everything—all at mouthwatering discounts. For the best deals of the bunch, fire up that Prime membership and take a stroll through our highly-curated assortment of limited-time offers below. And don’t forget to check back in, because we’ll be keeping this list updated with the latest and greatest Amazon Cyber Monday deals 2021 all week long.


Persol PO3235S Pilot sunglasses

Timberland Blix slimfold leather wallet

Wrangler Authentics fleece quarter-zip sweater

Dickies Temp-IQ Denim “Eisenhower” jacket

Koolaburra by UGG Bordon slippers

Timex Weekender watch

When you want the most watch for the least money, all roads lead to Timex.

Dockers classic fit easy khaki pants

Easily the best khakis you’ll find for under $30.

Pendleton Shetland wool sweater

Everyone needs a good, classic wool sweater.

Adidas Essentials warm-up 3-stripes track jacket

Gildan crew T-shirts (12-pack)

Calvin Klein cotton stretch multipack boxer briefs

The first and best name in elevated undies.

Champion Powerblend fleece hoodie

Seiko 5 SNXL72 automatic gold-tone stainless steel bracelet watch (was $235, now 50% off)


Merrell Moab 2 mid waterproof hiking boot

Take a hike.


Baxter of California clay pomade

The Ordinary Peeling Solution And Hyaluronic Face Serum

Jack Black Intense Therapy lip balm

CeraVe Vitamin C serum with hyaluronic acid

Roselyn Boutique jade roller & Gua Sha facial tools

Glam Up facial sheet mask 12-pack

Thayers witch hazel toner

Reduce irritation, prevent blemishes, and naturally hydrate your face.

Jack Black turbo body bar

Gentle exfoliation and hydrating ingredients to keep your skin looking and feeling its best.

La Roche-Posay Effaclar purifying foaming gel cleanser

Dylonic exfoliating brush

Panasonic Arc5 electric shaver

Our all-time favorite electric foil shaver rarely goes on sale. Even if it weren’t the holidays, that’d be reason enough to celebrate.

Calvin Klein CK One eau de toilette

The citrus-y classic still smells as alluring as it did during its late-’90s heyday.

Crest 3D white strips

Show up for the holidays with a diamond of a smile.

Philips Norelco 9000 pecision beard and hair trimmer

L’Oreal Paris Skincare Revitalift Derm Intensives 1.5% Pure Hyaluronic Acid Face Serum (was $24, now 46% off)


German Nivea creme (was $11, now 36% off)

Waterpik Sonic-Fusion 2.0 professional flossing toothbrush

Hatteker beard trimmer kit


Anker Nebula Capsule mini projector

Samsung Galaxy Chromebook laptop

Anker wirless Qi charging stand

Speck Gemshell clear iPhone 13 case (was $25, now 30% off)

Blue Yeti USB mic (was $130, now 23% off)

LG OLED C1 Series 65” Smart TV (was $2500, now 28% off)


Bose Sport Earbuds

These sweat-proof, bass-thumping buds will help you excel in the gym.

Amazon Echo Dot (3rd generation)

If you’ve been jonesing for a digital Jeeves, the older version of the Echo Dot is on sale for one of the best prices we’ve seen in a hot minute.

Amazon Fire TV Stick (was $50, now 50% off)


Apple AirPods Pro (was $249, now 29% off)


Fellow Stag EKG electric gooseneck kettle

Zeppoli classic kitchen towels 15-pack

Instant Vortex 5.7 quart air fryer

All-Clad D3 stainless steel frying pant cookware set

Nespresso Vertuo Next Espresso Machine

Smeg 4-slot toaster

Smeg’s coveted retro-style appliances don’t often go on sale, so you’d better hop on this deal while you can.

All-Clad D3 Stainless Cookware, 12-Inch fry pan with lid

Used in high-end kitchens all over the world, so you can elevate your home cooking into fine dining territory.

Bodum Brazil French press

Lodge 10/25″ cast iron skillet

Zojirushi Neuro Fuzzy rice cooker

Vitamix A2300 Ascent Series Smart Blender

Staub braiser with glass lid (was $357, now 58% off)


AeroGarden Harvest (was $150, now 40% off)


Breville Precision Brewer (was $420, now 29% off)

Ninja Air Fryer 5-quart (was $150, now 33% off)


Amazon smart soap dispenser

Bio Bidet Bliss BB200 smart toilet

Flexispot EG1 electric standing desk

Welhome Hudson Organic Cotton Towel Set (6-Piece)

Versanora Creativo Work Desk

Audio-Technica AT-LP60X turntable and Microlab Pro1BT speaker bundle

Dust off those vinyl records and turn up the volume.

Medify MA-40 air purifier

It’s never been more important to keep the air in your home fresh and clean.

Amazon Blink Mini camera

There’s, like, a zero percent chance Bezos isn’t watching the goings-on inside your home. Might as well let Amazon watch (and protect) the outside of it, too.

nuLOOM Moroccan Blythe Area Rug

Casper Sleep original hybrid mattress, queen (was $1395, now 15% off)


iRobot Roomba 692 robot vacuum (was $300, now 33% off)


Sonneman 2050-63 LED Quattro task lamp (was $240, now 31% off)

Costa Farms pachira plant


Amazon Halo fitness tracker

Under Armour Undeniable duffle gym bag

Balancefrom GoYoga yoga mat with carrying strap

XTERRA Fitness Folding Treadmill

Circuit Fitness Water Rowing Machine

Adidas Ultraboost sneakers

Garmin Vivoactive fitness watch

Rogue speed rope (was $26, now 30% off)


TriggerPoint GRID Foam Roller (was $40, now 30% off)


NordicTrack Commercial Series + 30-Day iFit membership (was $3200, now 22% off)


BowFlex SelecTech 552 adjustable dumbbells (pair) (was $550, now 27% off)


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Storm Team 11: Cold weather Monday before a warm-up begins | WJHL




Storm Team 11: Cold weather Monday before a warm-up begins |  WJHL

The Storm Team 11 Forecast calls for a cold Sunday night and Monday. A warming trend begins Tuesday afternoon and continues through the rest of the workweek. There is a small chance of a shower from Wednesday. That little potential continues through Friday and even Saturday. The chance of rain may increase towards the end of the weekend or early next week.

Cold tonight and Monday
Tonight there will be some clouds. Quite cold with a minimum between 20 and 23 degrees.

Mostly sunny Monday. Some high clouds. Cold with a high of mid-30s to nearly 40 degrees throughout the area, about 42 to 44 degrees in the Tri-Cities.

Monday night mostly clear to partly cloudy. Occasional clouds nearby. Still cold with lows in the mid to upper 20s.

Heat up
Plenty of sunshine for most of Tuesday with the possibility of more clouds later in the day and into the night. Softer in the afternoon. The maximum temperature is around 54 degrees in the Tri-Cities with higher 40 degrees to almost 50 degrees elsewhere.

Next rain chance?
We will be in and out of the clouds from Wednesday and it looks like it will be with periods of sunshine for the rest of the week. Moisture seems to be quite limited in our region. However, there is a very small chance of rain most days on this stretch due to a few weak systems nearby. It looks like our best chance of rain won’t be until Sunday or next Monday. Stay tuned as we gain confidence in the prediction. It’s becoming clearer that warmer air will settle in mid-to-late week with peaks in the mid-’50s to lows of the ’60s.


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