Post impressive Q2 results: SBI, Coal India look set for up to 21% rally

Coal India, SBI and Adani Enterprises continue to trade with a robust bullishness, while TVS Motor and Bajaj Finance seem to be struggling to hold their ground, technical charts show.

The Q2FY23 ended September, saw several companies post highest-ever profit, with strong guidance of likely robust prospects ahead. Overall, companies from banking, capital goods, auto and chemical sectors reported stellar quarterly earnings. 

Coal India, for instance, reported a consolidated net profit of Rs 6,044 crore, a 106 per cent jump over the previous quarter of FY22. Following this earning outcome, the stock went to set fresh historic peak after 7 years. 

Similarly, Adani Enterprises, owned by billionaire Gautam Adani, reported a double-digit growth by posting 117 per cent jump in net profit for the July-September quarter when compared with the