Page 23 - Markets

Punjab & Sind Bank Q3 profit up 24% to Rs 373 cr on rising interest income

State-owned Punjab & Sind Bank on Saturday reported a 24 per cent jump in profit at Rs 373 crore for the quarter ended December 2022, aided by healthy growth in interest income and decline in bad loans. The bank had posted a net profit of Rs 301 crore in the same quarter a year ago. Total income increased to Rs 2,245 crore in the December quarter from Rs 2,042 crore in the year-ago period, the bank said in a regulatory filing. The bank's interest income increased to Rs 2,107.44 crore from Rs 1,871.18 crore in the third quarter a year ago while Net Interest Income (NII) improved to Rs 805 crore from Rs 758 crore in October-December quarter of the previous fiscal. Net Interest Margin (NIM) stood at 3.12 per cent at the end of December 2022. On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 8.36 per cent as compared to 14.44 per cent at the end of third quarter of previous fiscal. Net NPAs also eased to 2.02 per cent as

YES Bank reports surprise 80% plunge in Q3 profit to Rs 51 cr as NPAs rise

Net profit fell to Rs 51.52 crore for the three months through December from Rs 266 crore

China reopening spurs record inflows into emerging market funds: BofA

The sudden shift in Chinese policy has boosted many different asset classes, from commodities and mining stocks to currencies and equity markets in popular tourist destinations

Analysts cautious on IndusInd Bank despite all-round beat in Q3; here's why

Nuvama Institutional Equities has downgraded IndusInd Bank's stock to 'hold' from 'buy'

Reliance Jio Q3 net profit jumps 28.29%, revenue from operations rise 18%

On a sequential basis, the net profit was up by 2.65 per cent, from Rs 4,518 crore in September 2022

Crypto wrap: Market continues to recover as total cap nears $1 trillion

There was a blip in the market on Thursday after the US agencies arrested the founder of Hong Kong-based crypto exchange Bitzlato, but it recovered on Friday

Too early to bet on rural recovery; stay selective on FMCG stocks: Analysts

In their quarterly update, Godrej Consumer Products, Dabur, and Marico witnessed sluggish growth in the December quarter (Q3) driven by poor rural consumption and a slowdown after the festival season

ICICI Bank Q3 Preview: Analysts expect robust loan book to drive PAT growth

ICICI Bank Q3: Consensus estimate by Bloomberg pegs ICICI Bank's net profit growth at 33 per cent year-on-year (YoY)/9 per cent quarter-on-quarter (QoQ) at Rs 8,242 crore

Stocks to Watch: RIL, PVR, HUL, Bata India, Sun Pharma, Vedanta, LTTS, Auto

Stocks to watch today: Jubilant Foodworks plans to open 3,000 Domino's stores - 250 stores for Domino's India in the next 12-18 months. It also plans to start 40-50 stores for Popeyes India

Shares of Adani Enterprises decline after FPO pricing, down over 4%

Issuance of partly paid shares, however, will queer the pitch for arbitrage traders

Bank of England in talks to defer deadline for CCIL de-recognition

ESMA under pressure after de-recognising in October six Indian clearinghouses including the CCIL

Sensex snaps 2-day winning streak, ends 187 pts lower; Nifty50 below 18,150

CLOSING BELL: Broader markets, too, were subdued in trade as Nifty MidCap 100 and Nifty SmallCap 100 indices declined up to 0.4 per cent.

ONGC gains 2%, hits over 6-month high on hopes of strong earnings growth

According to Motilal Oswal, 2023 is likely to be a defining year for ONGC with two prominent triggers-- a rise in domestic oil & gas production, and a possible floor on gas realization

Atul Auto hits 3-year high on foray into EV space; zooms 29% in one week

Atul Greentech, a subsidiary of Atul Auto, on January 11, 2023 announced its foray into the electric space with the unveiling of two electric three wheelers

Stocks to Watch: Adani Ent, IndusInd Bank, Coal India, HUL, Asian Paints

Stocks to watch today: Metals and mining major Vedanta will acquire debt-laden power plant Meenakshi Energy for Rs 1,440 crore

Adani Enterprises sets price band of Rs 3,112-3,276 per share for FPO

The floor price is set at a 13.4 per cent discount to the last close, while the top-end is close to 9 per cent below

Sensex ends 390 pts higher driven by HDFC twins, metals, Nifty above 18,150

Closing Bell: Within sectors, the Nifty metal index closed with most strength, up 1.5 per cent, followed by financials and pharma pockets, while PSB index slumped the most by over 1 per cent

Stock of this iron & steel products company zoomed 50% in one month

The stock price of Usha Martin surged 8% to Rs 198.75 on the BSE in the intra-day trade on Wednesday after 5.64 million equity shares had changed hands till 2:00 PM

Eureka Forbes hits record high; rallies 20% in 3 weeks on healthy outlook

Despite inflationary pressures, the consumer durables market is expected to witness robust demand, owing to the increasing need for premium products

Adani Enterprises underperforms in run-up to FPO; slips 14% in last 1 month

Adani Enterprises is planning to launch its Rs 20,000-crore follow-on public offer (FPO) before the Union Budget on February 1