Business Standard

Monday, December 23, 2024 | 03:51 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Sensex ends subdued day 235 pts up, Nifty swings above 18,200; SBI leaps 3%

CLOSING BELL: The Nifty PSU Bank index sharply outperformed other indices as it gained 4.5 per cent

Image SI Reporter New Delhi
Sensex ends subdued day 235 pts up, Nifty swings above 18,200; SBI leaps 3%

10:41 AM

Upside for Gold capped around Rs 52,570; Silver to test hurdle at Rs 60,800

The MCX Gold futures are likely to face resistance around Rs 51,135, above which the up move may still be capped at Rs 52,570. Silver futures have failed to sustain above the 200-DMA since late April. Read more
Gold, investment, investors, prices
10:31 AM

COMMENT | High valuation concerns temporarily shelved now

The stellar Q2 numbers from the PSU banking majors SBI and BoB reinforce the ongoing bullish story in banking.

Rising credit growth, improving asset quality and margins bode well for the banking sector and this has the potential to take the Bank Nifty and Nifty to new highs, driven by the bulls, who are in command now.

FIIs turning buyers for the seventh consecutive day is another strong positive. In the context of problems in China, money is likely to move away from China to strong emerging markets like Taiwan and India.

Concerns of high valuations have been temporarily eclipsed by positive factors. In this pricey market there is value in PSU banking stocks. Q2 results indicate that a 12% earnings growth is achievable in FY23.

Views by V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services 
10:15 AM

Britannia zooms 10% on robust Q2 revenue growth; enters Rs 1 trn m-cap club

In Q2FY23, Britannia's consolidated sales grew 22 per cent YoY and 19 per cent QoQ at Rs 4,338 crore, aided by a mid-single digit volume growth. Read here
Britannia
10:01 AM

SBI soars 5%, hits new high on strong Q2; brokerages retain 'Buy' on stock

SBI with its humongous size has reported consistently upbeat performance with this quarter seeing above par growth in earnings and return ratios, said analysts. Read here
Photo: Bloomberg
9:51 AM

Bank of Baroda surges 10% on reporting 59% YoY PAT growth in Q2

The public sector lender reported 58.7 per cent YoY jump in net profit to Rs 3,313 crore in Q2FY23, a record high for the bank, compared to Rs 2,088 crore in Q2FY22. NII for the lender, meanwhile, was up 34.5 per cent YoY to Rs 10,714 crore in the recently concluded quarter.
9:49 AM

Triveni Engineering up 2.5%; posts multi-fold profit growth in Q2

The sugar firm reported a multi-fold jump in its consolidated profit to Rs 1,387.76 crore in Q2FY23 from Rs 92.47 crore in the year-ago period.
9:46 AM

Marico sheds 5% on posting surprise fall of 3% in Q2 net profit

9:43 AM

Tatva Chintan drops 7% as Q2 net profit sinks 78% YoY

9:40 AM

Britannia rallies nearly 10% on robust Q2 nos

The company posted a 28.4 per cent YoY increase in consolidated net profit to Rs 490.5 crore in Q2FY23.
9:36 AM

SBI up 4%; Q2 PAT jumps 74% YoY to Rs 13,265 crore

9:34 AM

SECTORS | Nifty PSU index rallies nearly 6%; Pharma pocket weak

9:30 AM

BROADER MARKETS | Small-caps firmly outshine benchmarks; index up 1%

9:27 AM

NIFTY LOSERS | Cipla, Titan, Dr Reddy's top index losers

9:24 AM

NIFTY WINNERS | Britannia soars 8%; SBI up 4%

9:21 AM

HEATMAP | 4 of 30 Sensex stocks sit in red; Titan slips most

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Nov 07 2022 | 8:08 AM IST