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Tata Power shares up 180% in one year; PLIs likely to sustain momentum

Shares of Tata Power have risen around 180 per cent in the past one-year period evidently due to its strong investment in EV charging stations, solar infrastructure and other expansions. Tata Power is an integrated power company, present across the entire power value chain of conventional and renewable energy, power services and next-generation customer solutions including solar rooftop and EV charging stations. In early February 2021, the company's share price was Rs 90, and now it's over Rs 250, which is 183 per cent up. Analysts expect the additional allocation for the solar sector as PLIs is a positive for the solar manufacturers.

SBI lines up 6 NPA accounts for sale to ARCs to recover dues of Rs 406 cr

Country's largest lender SBI has lined up six non-performing assets (NPAs) for sale to asset reconstruction companies (ARCs) to recover dues of nearly Rs 406 crore. The six NPA accounts put up for sale to the ARCs are -- Patna Bakthiyarpur Tollway with outstanding of Rs 230.66 crore; Steelco Gujarat Ltd Rs 68.31 crore; GOL Offshore Ltd Rs 50.75 crore; Andhra Ferro Alloys Ltd Rs 26.73 crore; Guru Ashish Taxfab Rs 17.07 crore and Genix Automations Pvt Ltd Rs 12.23 crore.

SBI Q3 net profit jumps 62% to Rs 8,432 cr, asset quality improves

Country’s largest lender, State Bank of India (SBI), reported a 62.3 per cent year-on-year (YoY) rise in net profit at Rs 8,432 crore in the third quarter ended December 31, 2021 on increase in interest margins. This is the highest quarterly net profit reported by the bank. In the year-ago period (Q3FY21), it had posted a net profit of Rs 5,196 crore. Sequentially, profits rose by 10.56 per cent from Rs 7,627 crore in Q2FY22. Net interest Income (NII) of the lender rose by 6.48 per cent YoY in Q3FY22 to Rs 30,687 crore from Rs 28,820 crore the same period last year on back of improvement in credit offtake. Sequentially, it was down 1.6 per cent from Rs 31,184 crore, SBI said in a statement.

BoB Q3 results: Net profit doubles to Rs 2,197 cr

Public sector lender Bank of Baroda on Saturday reported 107% jump in standalone net profit at Rs 2,197 crore for the quarter ending December 31, 2021. The bank reported standalone PAT of Rs 1,061 crore in the year-ago period. Net interest income (NII) increased to Rs 8,552 crore in Q3FY22 as against Rs 7,477 crore in Q3FY21, registering a growth 14.38% YoY. Operating profit of the bank increased to Rs 5,483 crore in Q3FY22, up by 7.85% on a YoY basis

Real estate firm Godrej Properties calls off its deal with DB Realty

Real estate firm Godrej Properties has decided to cancel its plans to invest Rs 700 crore in DB Realty to acquire 10 per cent stake and set up a joint platform amid concerns raised by minority shareholders and other stakeholders. On Thursday, Godrej Properties had announced that it would invest Rs 400 crore to acquire around 10 per cent stake in DB Realty and another Rs 300 crore to set up a joint platform for undertaking slum redevelopment project.

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