Ability to continue reporting above-average earnings a key trigger; discount with Kotak Bank stock also seen narrowing
Operating profit for up 15% YoY, major improvement seen in bad loans
Sequentially, its net profit rose 21.4%; lender's treasury income rises despite hardening yields
The big positive was the reduction in the attrition rate, which came in at 22 per cent, down from 24 per cent in Q4FY21
Total income of the bank rose to Rs 21,727.61 crore during April-June quarter of the current fiscal, compared to Rs 19,361.92 crore in the year-ago period, Axis Bank said in a regulatory filing
Adani Ports, the country's largest integrated logistics player, had clocked a consolidated net profit of Rs 1,033 crore in Q4FY22, over 21 per cent lower than the same quarter in FY21
In Q4FY22, Bajaj Auto recorded a net profit of Rs 1,468.95 crore, up over 250 crores from the Q3FY22
Despite near term headwinds, the management anticipate good growth in FY23 and a surge from FY24.
VC investment in India dipped in the April-June quarter (Q2) as investors shifted their focus to cash preservation in anticipation of funding becoming less easy to obtain over the next few quarters
Better recoveries, adequate credit enhancements spark investor confidence
Tata Housing's sale bookings surged five folds to Rs 623 crore in April-June 2022-23 on strong demand across its residential projects. Tata Housing, which is a 100 per cent subsidiary of Tata Sons Pvt Ltd, is one of the leading real estate players in the country and is developing projects across major cities. Sanjay Dutt, Managing Director and CEO of Tata Realty & Infrastructure, said: "With the rise in demand propelled by normalcy post the last COVID wave, Tata Housing has generated Rs 623 crore revenue in Q1 and has added Luxa One in Maldives to our portfolio." Housing sales of almost all real estate developers were badly impacted in June quarter last fiscal year because of the second wave of the COVID-19 pandemic. With exponential growth in the first quarter of FY23, he said the company looks forward to reshaping the demand for residential solutions in India and international markets. He expects to clock triple-digit growth in current fiscal year. "We are on a path to become
Tech Mahindra Q1FY23 results: In the last quarter the company recorded a net profit of Rs 1,038 crore. In Q3FY22, it stood at Rs 1,329 crore
India's tech industry is ruling out a US recession. Or so you would think from Infosys Ltd.'s cheery forecast of 14 per cent to 16 per cent annual revenue growth
ICICI Bank can rally to a new high if the stock manages to sustain above its 200-DMA; Infosys and UltraTech Cement too look promising, while Rs 2,350-level remains the key for Reliance Industries.
Axis Bank Q1 Results: In FY22, the bank doubled its net profit to Rs 13,025 crore. The operating profit of the bank grew by 13 per cent YOY & 5 per cent QOQ, in Q4FY22
Tata Steel to announce Q1FY23 results on Monday; company plans Rs 12,000 cr investment in India and Europe
Stocks to watch today: Axis Bank, Tata Steel will report their June quarter 2022 results (Q1FY23) on Monday, July 25; Infosys delivered net profit for Q1 below street expectations at Rs 5,360 crore.
The early-bird results for the April-June 2022 quarter hinted at a decline in earnings, even as corporate revenue continued to grow at a fast clip
While Street is bullish on retail, Jio prospects, near-term O2C outlook led to cuts
RIL did point to these recessionary fears at its investor call, saying it remained a challenge for oil companies