Data recap: HDFC Bank, Sensex, monsoon, and more

livemint.com:

HDFC Bank reported a huge profit growth in the first quarter of the current financial year. The Reserve Bank of India has now weighed in on India’s prospects of becoming a developed nation. After crossing the 65,000 mark on 3 July, Sensex continued its winning streak and added 2,000 points more in two weeks to close above 67,000 on 19 July.

The Indian stock market is seeing renewed interest from foreign investors, driven by strong economic activity in the country as well as fading fears of a global recession. Improvement in rainfall coverage, stable corporate results and gradual relief from global inflation pressures have also led to a bull run this month.       Even as the country awaits new official poverty estimates, the Niti Aayog came out with an updatedmultidimensional poverty index, which estimated that135 million Indians had exited multidimensional poverty between 2015-16 and 2019-21.

According to the index, which accounts for factors beyondmoney such as education, health, and living standards, Bihar, Jharkhand and Meghalaya are among the most deprived states, but all recorded sharp improvement.   30%:That’s the year-on-year increase in net profit reported by India’s largest private sector lender HDFC Bank Ltd in the June-ended quarter.The bank’snet profitrose to ₹11,952 crore for the quarter ended 30 June from ₹9,196 crore a year ago. The rise in net profit came mainly on account of lowprovisions and contingencies, which fell to ₹2,860 crore from ₹3,188 crore in the year-ago period.