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Read about Federal Bank Ltd. and 4 other stocks below:
The shares of Federal Bank Ltd. were trading at Rs.104.05, up by 7.8% in today’s trading session.
The share price of Federal Bank Ltd. has decreased by 28.30% in the last one month.
The stock rallied after the lender reported a strong 49.5% year-on-year (YoY) jump in net profit at Rs 460 crore in the September quarter (Q2FY22).
Federal Bank’s net interest income (NII) increased 7.2 percent year on year and 4% sequentially to Rs 1,479 crore in Q2FY22, owing to credit growth in select segments. Net interest margin (NIM) increased 7 basis points (bps) year on year and 5 basis points sequentially to 3.2 percent.
New slippages totaled Rs 320 crore, which, together with recoveries and upgrades totaling Rs 421 crore, resulted in a 3.24 percent reduction in gross non-performing assets (GNPA) and a 1.12 percent reduction in net NPA. The rapid recovery aided in lowering credit costs.
Federal Bank stated that it launched credit cards with the Rupay and Visa networks as soon as possible. The bank also collaborated with OneCard to launch a credit card. It has been appointed by the government of India and the Reserve Bank of India to collect direct and indirect taxes.
Despite the volatile environment, the bank has delivered a very encouraging performance despite the odds. We saw strong traction in NIM and an increase in NII as a result of good credit growth in certain segments. “The strong recovery and upgrades contributed to virtually no credit cost for the quarter,” said Shyam Srinivasan, Managing Director, and CEO of Federal Bank.
CASA increased by 18%. YoY, the CASA ratio reached an all-time high of 36%. This improves the granularity of our deposit portfolio. With a market share of 20.54 percent, inward remittances remain a strong strength for the bank. According to Shyam Srinivasan, the bank’s digital story is continuing to thrive, with Fintech partnerships progressing well and accounting for 50% or more of new accounts booked.
The shares of Subros Ltd. were trading at Rs.386.50, up by 9.9% in today’s trading session.
The share price of Subros Ltd. has increased by 27.24% in the last one month.
The stock rallied after the company reported its quarterly results for the Q2FY22.
The revenue increased by 16% in the second quarter of the fiscal year 2021-22 compared to the second quarter of fiscal year 20-2021. EBIDTA, on the other hand, is down 35% and PBT is down 73% compared to the same quarter last year.
The second wave of the Covid19 pandemic has wreaked havoc on the country’s economy. The Company’s operations were harmed as a result of the subsequent lockdown, which caused operations to be suspended for a portion of the quarter ended 30th June 2021. As a result, the half-year results are not comparable to the previous half-year results.
Subros was founded in 1985 as a collaboration between the Suri Brothers, Denso Corporation, Japan, and Suzuki Motor Corporation, Japan.
From a capacity of 15,000 AC units in 1985, when it was primarily an assembly operation, the company has grown to become India’s largest and only integrated manufacturing unit for Auto Air Conditioning systems. The company is capable of producing compressors, condensers, heat exchangers, and all of the connecting elements required to complete the AC Loop.
The shares of KEC International Ltd. were trading at Rs.492.70, up by 6.1% in today’s trading session.
The share price of KEC International Ltd. has increased by 18.12% in the last three months.
The stock rallied after the company reported after the company announced that it has secured new orders of Rs 1,829 crore across its various businesses.
KEC International announced that its transmission and distribution (T&D) division has received orders worth Rs 656 crore for T&D projects in Europe and the Americas. In India, the civil business has received orders worth Rs 935 crore for infra works in the water pipelines and industrial segments.
The company’s railway business has received orders worth Rs 144 crore in India’s technologically advanced/emerging metro segments, while its cable business has received orders worth Rs 94 crore for various types of cables in India and abroad.
According to the company’s management, the company’s year-to-date order intake has now surpassed Rs 7,000 crore, representing a robust growth of around 70% over last year. With the first T&D EPC order in Europe, the company has expanded its international footprint.
“The orders in the Americas, secured by our subsidiary SAE Towers, show that the North American market is reviving. The railway industry has increased its order book in technologically advanced metro areas. The Civil orders have strengthened the company’s presence in the water pipelines and industrial segments, as well as broadened its clientele “Management stated.
The shares of IRB Infrastructure Developers Ltd. were trading at Rs.293.15, up by 20% in today’s trading session.
The share price of IRB Infrastructure Developers Ltd. has increased by 70.98% in the last one month.
The stock has been rallying after the company has informed the exchanges that the board is considering fundraising plans.
IRB Infra announced Thursday after market hours that the company’s board of directors will meet on Tuesday, October 26, 2021, to consider and approve a fund-raising proposal.
The proposed fundraising will be accomplished through the issuance of equity shares/bonds/debentures/non-convertible debt instruments/security and/or any other instruments/security, including preferential issue on a private placement basis, qualified institutions placement, rights issue, or any other method or combination thereof, including determination of issue price as permitted by applicable laws, according to the company.
Earlier this week, IRB Infra announced that the board of directors will meet on October 26 to review and approve the company’s unaudited financial results for the quarter and six months ended September 30, 2021.
The shares of TVS Motor Company Ltd. were trading at Rs.620.00, up by 7.5% in today’s trading session.
The share price of TVS Motor Company Ltd. has increased by 14.85% in the last one month.
The stock rallied after the company reported the highest-ever revenue, EBITDA for the quarter ended September 2021 (Q2FY22).
In the second quarter, the company reported a 22% year-on-year (YoY) increase in revenue of Rs 5,619 crore, exceeding analysts’ expectations of around Rs 5,400 crore, owing primarily to a 39% YoY increase in spare-part sales. Ebitda margin increased by 70 basis points year on year to 10%, aided by the restoration of export incentives, higher spare-part sales, and a one-time benefit related to export incentives from the previous two quarters.
TVS Motor stated that despite various challenges such as rising commodity costs, a scarcity of containers for international trade, and a shortage of semiconductors, it has achieved significant cost-cutting initiatives and revenue growth. During the quarter, focused working capital management and improved operating performance enabled the company to generate Rs 1,090 crore in operating free cash flow, it added.
The board of directors of the company approved the formation of a subsidiary to pursue the electric mobility business. It plans to spend Rs10 billion on product development and capacity expansion. Premium scooters, high-performance sporty motorcycles, commuter space, delivery market, and 3Ws are among the segments targeted for EV launches.
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Disclaimer: This document and the process of identifying the potential of a company have been produced for only learning purposes. Since equity involves individual judgments, this analysis should be used for only learning enhancements and cannot be considered to be a recommendation on any stock or sector.