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? SBI share price jumps 3 percent on strong Q2 results
SBI reported all-round performance for the quarter ended September 2022, leading to earnings well above what analysts had estimated. The state-owned lender said its net profit surged 74 percent from a year earlier on improved asset quality and healthy loan growth. Its net interest income rose 12.83 percent to Rs 35,183 crore for the reported quarter, keeping with the improving trend of the previous two quarters. Nomura has a buy call on the stock. ? Britannia Industries Q2 results beats industry estimates
The FMCG major posted a 28 percent year-on-year growth in consolidated net profit at Rs 490 crore for the September quarter, way above analysts’ expectation of Rs 451 crore. The share surge boosted the company’s market cap to Rs 1 lakh crore. Japanese brokerage firm Nomura has upgraded the stock to “buy”. The research firm believes that the Q2 results were an all-around beat with higher-than-peers volume growth. ? TVS Motor operating revenue grew by 28 percent
The auto firm registered a standalone net profit of Rs 407.47 crore for the quarter ended September 30, 2022 (Q2FY23). The Chennai-based automaker’s operating revenue grew by 28 percent at Rs 7,219 crore for the quarter ended September 2022 as against Rs 5,619 crore in the year-ago period. Analysts called the second quarter earnings “quality results” but expressed concern over limited margin expansion due to electric vehicle (EV) disruption. CLSA has a “sell” call on TVS Motor due to expensive valuations. |