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The lender was able to reduce gross non-performing assets (NPAs) to 3.40 per cent of the gross loans at September-end 2022 from 5.56 per cent a year ago. Likewise, net NPAs or bad loans came down to 0.68 per cent from 1.73 per cent at the end of the second quarter of the previous fiscal.

The manufacturer of the Pulsar and Platina motorcycles sold almost 1.2 million vehicles during the quarter, 23 per cent more than the preceding quarter and 1 per cent higher than a year earlier. Domestic sales almost doubled quarter-on-quarter (QoQ) to more than 6,94,000 units. Exports declined 21 per cent sequentially to 5,81,000 units as the global economy faces headwinds.

“Deposits have been our strongest point and we do not rely much on the bulk deposits as it may work out. A large part – 93% of our book is being retail – and it has always been the case. Our ability to garner deposits stands us in good stead. We have to be competitive in term pricing but we are a dominant player in the remittances market and as remittances are going up at Rs 82 or so, we see a material or a meaningful flow in increase in remittances.”

The domestic brokerage said during the September quarter of FY23, cotton as well as yarn prices climbed over 60% and 23%, respectively, YoY

The stock quoted a 52-week high of Rs 94.5 and a 52-week low of Rs 65.2.

“On opex, decline in employee cost was led by lower pension provisions and FB expects cost–income (C/I) to reduce by ~200bps in FY23 over FY22. Plan is to add 30-40 branches per annum. The bank expects C/I to settle near 49% in FY24. Slippages were controlled at Rs 3.9 billion while recoveries were healthy at Rs 3.3 billion.

The logistics solution provider intends to establish its strong presence in the African region in various areas like port logistics, container yard, shipping, and more, which would boost the profitability and topline of the company.

A total of 783,039 shares changed hands on the counter till 01:19PM (IST).

Tata Communications, commanding a m-cap of around Rs 33,490 crore is a midcap company. The company is a digital enabler that equips the fast-growing digital economy. The company offers services to 300 of the Fortune 500 companies given its expertise in cloud, IoT, collaboration, security and network services.

“The Avenue Supermarts stock has held up because many of the funds, PMSs, Mutual Funds who hold the stock do not sell and to that extent, the stock sustains. But I do not think such valuations can sustain. The 20-25% growth stocks trading at 100-110 valuation will never sustain. In the next couple of years’ returns from this stock will be below par in my view.”