- The domestic equity benchmark ended in decent gains.
- A recovery trend in international markets have helped boost the investor sentiment, while a stability in oil prices, positive economic indicators, slowdown in FII selling and resumption of buying, consistent buying by DIIs, corporate earnings and a downward move in inflation have supported the rally in the equity market.
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| News you could use ?IndusInd Bank jumps 8.1%
IndusInd Bank jumped 8.10% after the bank reported 64% rise in standalone net profit to Rs 1,603 crore on a 9% increase in total income to Rs 10,110 crore in Q1 FY23 over Q1 FY22. The bank’s consolidated net profit increased by 61% YoY to Rs 1,631 crore on a 15% rise in total income to Rs 6,057 crore in the first quarter. ?SBI to raise Rs. 11,000 crore in bonds
The country’s largest lender said its Central Board has approved raising of capital by way of issuance of Basel III compliant debt instrument in USD/INR and/or any other convertible currency, during FY23. The bank will raising fresh additional Tier 1 (AT1) capital of Rs 7,000 crore, and fresh Tier 2 capital of Rs 4,000 crore. ?IDBI bank gains as the bank reported 25% jump in net profits
IDBI Bank gained 1.66% after the company reported 25% jump in net profit to Rs 756 crore despite a 13% fall in total income to Rs 5,781 crore in Q1 FY23 over Q1 FY22. Net Interest Income declined marginally to Rs 2,488 crore in Q1 FY23 from Rs 2,506 crore in Q1 FY22. Net Interest Margin (NIM) stood at 4.02% in Q1 FY23 as compared to 4.06% for Q1 FY22. |