STOCK IN NEWS - HDFC BANK

India's HDFC Bank beat analysts' forecasts for January-March profits on Saturday, helped by higher net interest income and improving asset quality. The country's biggest private lender posted standalone net profit of 176.16 billion rupees ($2.06 billion) for the financial fourth quarter, up from 167.36 billion rupees in the previous three months and above the analysts' estimate of 170.27 billion rupees, according to data compiled by LSEG. Net interest income, the difference between interest earned and paid, rose 4.6% to 320.7 billion rupees, core net interest margin rose to 3.54% from 3.43% on total assets, and to 3.73% from 3.62% on interest-earning assets. Excluding interest on an income tax refund worth 117 billion rupees, HDFC's core net interest margin was 3.46% on total assets and 3.65% on interest-earning assets.