UltraTech Cement Q3 Results: Profit drops 38% YoY to Rs 1,058 crore, revenue up 19.5%
The company’s operating margin dropped to 15% in Q3 from 19% in the year-ago period but was up 100 bps sequentially. Volume growth was strong during the quarter but cost pressures resulted in subdued margins.
YES Bank Q3 Results: Net profit drops 81% to Rs 51.5 crore
Its net interest margin (NIM) in Q3 stood at 2.5% up nearly 10 bps YoY and down 10 bps QoQ. Provisions rose 45% QoQ to Rs 845 crore. While net advances rose 10.4% YoY to Rs 194,573 crore, total deposits increased 15.9% YoY to Rs 213,608 crore.
Kotak Mahindra Bank Q3 Results: PAT jumps 31% YoY to Rs 2,792 crore, NII up 30%
Kotak’s standalone operating profit rose 43% to Rs 3,850 crore in Q3. Advances increased by over 23% to Rs 3,10,734 crore in December-end. COVID related provisions stood at Rs 400 crore.
L&T, PFC top 2 Budget picks which investors can track ahead of Feb 1: Kunal Shah
The Bank Nifty index too has been trading in a big range where 42000 is acting as a cushion for the bulls and 43000 is acting as a resistance point where the high open integers are built up on the call side.
This is where Atul Suri sees market heading in 2023
Rakesh Jhunjhunwala’s prodigy remains bullish on Nifty in 2023. >> For more such web stories click on the ET icon below
Natural gas: Long-term outlook remains clouded due to uncertain fundamentals
As per the IEA report, Europe’s gas consumption sheds more than 10 percent in the first eight months of 2022.
ETMarkets Smart Talk: Sensex likely to head towards 68K; IT, pharma may outperform in 2023
As a result, the risk-on strategy will come in. In other words, we anticipate increased FII investment in India and expect the rupee to appreciate. We would not be surprised if the rupee were to fall below the 80 levels in 2023.
How various asset classes perform during inflationary periods
There are many factors to consider while determining whether inflation has peaked. While there are visible signs of a downward trend, the critical question is whether the fall in inflation will be sustainable. Early signs of falling food inflation and a fall in the prices of commodities, including crude oil, provide hope.
Union Budget 2023: Will there be no surprises for investors?
Make-in-India would be another theme that could be at the center stage. We could see custom duty cuts in commodities where indigenization and value add are gaining pace. Further, a tax hike on imported finished goods could be on cards to aid local manufacturers. Chemical companies and electronic manufacturers are key beneficiaries.
Investors gain from right(s) opportunities
Based on Thursday’s closing price of Rs 897 on the BSE, the shareholders have earned a staggering 115% short-term return from their fresh investments through the rights issue. The offer remained open between December 19, 2022, and January 9, 2023.