Large Outflow from iShares MSCI USA Quality Factor ETF

The iShares MSCI USA Quality Factor ETF (QUAL) experienced a $149.4 million outflow, a 0.3% decrease in shares outstanding. The ETF's underlying components, including Automatic Data Processing Inc. (ADP), Chipotle Mexican Grill Inc. (CMG), and Blackrock Inc. (BLK), have seen mixed trading. The ETF's one-year price performance is shown in the chart.

IndusInd Bank's shares experienced a 2 percent increase on Tuesday, following the bank's assurance that all financial impacts from past frauds have been accounted for and no further losses are expected [1]. The stock closed at Rs 818.60 on the BSE and Rs 818.85 on the NSE, marking a significant recovery from earlier concerns.

The bank reported a 72 percent fall in its net profit for the April-June quarter of FY26, standing at Rs 604 crore compared to Rs 2,171 crore in the same period last year. This substantial drop was primarily due to issues stemming from past frauds and poor loan practices under previous leadership [1]. The bank had posted a loss of Rs 2,329 crore in the March quarter (Q4 FY25), raising concerns about its financial stability.

The exit of former CEO Sumant Kathpalia and the subsequent appointment of an interim management team have marked a shift in the bank's focus towards restoring its image and improving governance. Chairman Sunil Mehta assured that the Q1 results are "clean and profitable," with no carryover of past irregularities. The interim leadership has made progress in areas like microfinance and treasury operations, where earlier frauds had occurred [1].

Meanwhile, the iShares MSCI USA Quality Factor ETF (QUAL) experienced a $149.4 million outflow, resulting in a 0.3 percent decrease in shares outstanding. The ETF's underlying components, including Automatic Data Processing Inc. (ADP), Chipotle Mexican Grill Inc. (CMG), and Blackrock Inc. (BLK), have seen mixed trading. The ETF's one-year price performance is shown in the chart [2].

Automatic Data Processing (ADP) is scheduled to announce its Q4 earnings results on Wednesday, July 30th, before market open. The consensus EPS estimate is $2.23, and the consensus revenue estimate is $5.05 billion. Over the last two years, ADP has beaten EPS estimates 100 percent of the time and revenue estimates 88 percent of the time [2].

References:
[1] https://www.freepressjournal.in/business/indusind-bank-shares-rise-2-assures-no-further-financial-hit-from-past-frauds
[2] https://seekingalpha.com/news/4473509-automatic-data-processing-q4-2025-earnings-preview