AU SFB Q3 Results: PAT rises 30% to Rs 393 cr on improved income
The bank's total income rose 36% at Rs 2,413 as compared with Rs 1,773 crore. Provisions fell 41% at Rs 33 crore against Rs 56 crore.Its asset quality improved with gross non-performing assets ratio falling to 1.81% at the end of December against Rs 2.6% a year back. Net NPA was at 0.51% against 1.29%.
AU Bank Q3 Results: PAT jumps 30% YoY to Rs 393 cr on healthy core income
Total income of the Jaipur-based company rose 36 per cent to Rs 2,413 crore, driven by a full 41 per cent jump in net interest income at Rs 1,153 crore. The key profitability metric net interest margin which is the difference between the cost of deposit and loan pricing, at 6.2 per cent.
Broad-based strength: BNP Paribas picks 3 bank stocks
We expect this trend to have gathered more steam in 3QFY23 as banks confidence in these product segments increased due to encouraging macroeconomic data despite reasonably tight monetary and liquidity conditions. For this reason, our top picks in order of preference remain HDFC Bank, ICICI Bank and Axis Bank," it added.
Q3 results this week: ICICI Bank, HUL, Asian Paints, JSW Steel, SBI Life, others
ICICI Prudential Life Insurance, ICICI Lombard General Insurance, Bank of India, Metro Brands, National Aluminium, Tata Investment Corporation, Eris Lifesciences, Network 18 Media & Investments, TV18 Broadcast, Delta Corp, Mastek, Hathway
QIP fundraise in 2022 lowest in 6 years on strong balance sheets, reduced demand
Bankers said strong balance sheets in some sectors, sharp volatility in the stock market, high valuations, and consistent selling by foreign portfolio investors (FPIs) through most of 2022 have kept companies away from raising funds through QIPs.
Bond yields fall as oil prices continue slide, GDP data eyed
Oil prices fell over 3% on Monday as protests in China over strict COVID-19 curbs fuelled concerns over demand. Including this, crude prices have tumbled more than 8% in a four-session losing streak.India imports more than two-thirds of its oil requirements and a fall in global crude should help lower imported inflation and reduce the pressure on the Reserve Bank of India to raise rates.
Which stocks to bet on after Q2 result season? Top upgrades and downgrades
For ICICI Securities, the BFSI space witnessed healthy earnings upgrades (led by corporate banks), while marginal upgrades were witnessed in the FMCG, IT and oil & gas space. Domestic brokerage firm Motilal Oswal has maintained an overweight stance on BFSI, auto, consumer & IT and an underweight stance on energy, pharma and utilities.
3 reasons why BofA thinks the turnaround in PSU bank stocks is here to stay
"We see BOB continuing to lead the PSB turnaround story beyond State Bank of India (SBI) on a more diversified/safer book and a more advanced digital strategy. We remain positive on SBI (Neutral) but see a narrowing scope for positive surprises," BofA analyst Anand Swaminathan said in a report on Thursday.