IGI Logo

Key News

SBI Q2: Analysts peg NII growth at 5% YoY, profit may increase up to 100%

SBI Q2 preview: India's biggest state-owned lender State Bank of India (SBI) is set to report its July-September quarter (Q2FY22) earnings on Wednesday, November 3, and most brokerages are extremely bullish on the lender’s net profit for the quarter. Domestic brokerage Prabhudas Lilladher, for instance, expects the lender’s profit after tax (PAT) to more-than-double, or surge 102.5 per cent, on year to Rs 9,263.3 crore for the period under review. The same was Rs 4,574.2 crore last year (Q2FY21). Sequentially, this would be a 42 per cent growth over Rs 6,504-crore PAT clocked in Q1FY22.Global brokerages, Nomura and HSBC, meanwhile, expect the PAT to jump 87 per cent and 73 per cent year-on-year, respectively, up to Rs 7,901 crore.

Logistics startup Delhivery files DRHP with Sebi for Rs 7,460 cr issue

Logistics startup Delhivery on Tuesday filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi), for an issue size of Rs 7,460 crore. The primary issue will be of Rs 5,000 crore, which the company will raise via public issue. The offer for sale by the existing investors will be Rs 2,460 crore. Key shareholders selling in the IPO are China Momentum Fund (Deli CMF) worth Rs 400 crore, Carlyle, worth Rs 920 crore, SoftBank worth Rs 750 crore and Times Internet worth Rs 330 crore. According to the DRHP, Delhivery plans to utilise net proceeds of the IPO towards funding organic and inorganic growth through acquisitions and other strategic initiatives.

Bharti Airtel posts 13% rise in quarterly revenue, helped by tariff hikes

Indian wireless carrier Bharti Airtel Ltd reported on Tuesday a 13% rise in its second-quarter revenue, boosted by tariff hikes and additions in its subscriber base. The company's consolidated revenue from operations was 283.26 billion rupees ($3.79 billion) for the quarter ended Sept. 30, compared with 250.60 billion rupees a year ago, according to its exchange filing.

Allcargo Logistics freezes at 20% upper limit, at new high on robust Q2 nos

Shares of Allcargo Logistics were locked at the 20 per cent upper circuit at Rs 328.95, also its fresh life-time high, on the BSE on Tuesday, after the company’s reported 355 per cent year-on-year (YoY) jump in consolidated net profit at Rs 264 crore in September quarter (Q2FY22). The logistics company had profit of Rs 58 crore in a year ago quarter.

Bayer CropScience drops to 52-week low, down 7% on weak Q2 results

Shares of Bayer CropScience hit a 52-week low of Rs 4,677.85, down 7 per cent on the BSE in Tuesday’s intra-day trade after the company reported 31 per cent year-on-year (YoY) decline in net profit at Rs 154.10 crore for the September quarter (Q2FY22). The agrochemicals company had posted net profit of Rs 224.6 crore in Q1FY21. In Q2FY22, the company’s revenue from operations decreased 1.2 per cent YoY to Rs 1,365 crore from Rs 1,382 crore in a year ago quarter.

To Read Complete Report & Disclaimer Click Here

Above views are of the author and not of the website kindly read disclaimer