ICICI Bank hits 52-week high! Brokerages see 15-23% upside post solid Q1 show
India’s second-largest private sector lender ICICI Bank’s June quarter standalone profit after tax (PAT) recorded a growth of 39.7% year-on-year (YoY) to Rs 9,648 crore. ET NOW poll had estimated PAT at Rs 9,300 crore. Its net interest income (NII) increased by 38% YoY to Rs 18,227 crore
Canara Bank Q1 Results: Net profit jumps 75% YoY to Rs 3,535 crore; NII up 28%
The net interest income for the June quarter rose 28% to Rs 8,666 crore, as against Rs 6,785 crore in the same period last year.
Adani Enterprises, Tata Motors among 10 largecaps where FIIs hiked stakes in Q1
According to StockEdge data, here’s a list of 10 largecap stocks wherein FIIs increased their stake in Q1.
CLSA raises target price for Paytm post Q1 results, sees up to 24% upside
Paytm’s consolidated net loss narrowed to Rs 357 crore for the quarter ended June. It was Rs 644 crore in the year-ago period. However, the loss has widened when compared with Rs 168 crore reported in the preceding March quarter.
Vedanta shares fall 3% on weak Q1 results. Should you buy or sell?
Following the Q4 results, Kotak Institutional Equities maintained its ‘Sell’ rating on Vedanta with a target price of Rs 215 (Rs 235 earlier). The company reported a consolidated net profit of Rs 2,640 crore for the quarter ended June, down about 40% from Rs 4,421 crore reported in the same quarter last year.
Why Sandip Sabharwal prefers ICICI Bank to HDFC, Kotak or IndusInd
Among the recent results of HDFC Bank, Kotak Bank, and IndusInd Bank, ICICI Bank stands out due to its realistic commentary and reasonable valuations. Sandip Sabharwal also expects a positive outlook for L&T’s overall order booking guidance and execution, as well as the potential for a buyback. Despite L&T’s strong performance, it remains an under-owned […]
RIL shares fall 2% after company misses Q1 earning’s estimates. Should you buy?
Diversified conglomerate Reliance Industries (RIL) on Friday reported a year-on-year (YoY) drop of 11% in the consolidated net profit for the quarter ended June 2023 to Rs 16,011 crore. Consolidated revenue declined 5.3% YoY to Rs 2.11 lakh crore.
Hot Stocks: Brokerage view on Vedanta, Kotak Mahindra Bank, JSW Steel and ICICI Bank
Investec maintained a buy rating on Kotak Mahindra Bank with a target of Rs 2300. Liabilities momentum has improved and the net interest margins (NIMs) are likely to remain elevated. The asset quality remains best in class, and the brokerage firm believes that the bank’s NIMs should stabilise above 5%.
Bargain buying opportunity in HCL Tech shares after last week’s dip: Anand James
Notably, Nifty PSU Bank Index saw better traction than BankNifty with all of the index constituents gaining close to 5% on an average. Major gains were seen in SBI, Bankbaroda, Canbk, PNB and Unionbank which contributed around 80% to Nifty PSU Bank index.
Positive Breakout: These 7 stocks crossed above their 200 DMAs
The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock.