BASIC2BEMISAL | NIFTY I BANKNIFTY | BTST 📶☺️👍

Positionally  Looks Good to Buy "IGL" @434,  50% @ 414. SL @410 (Closing Basis) Target 461/ 494 / 541. "POWERGRID" @227, 50% @ 218 TGT @ 235 / 245 / 255. Note:- All levels  given  based  on technical  only for Educational purposes.  Investment  or Trading is Subject  to Market  Risk. Trade On your  Own Risk.

Results on January 23 Axis Bank, IDBI Bank, Canara Bank, Container Corporation of India, Amber Enterprises India, Craftsman Automation, Butterfly Gandhimathi Appliances, Gland Pharma, Gravita India, HFCL, Jammu & Kashmir Bank, Jindal Stainless, Poonawalla Fincorp, Route Mobile, Shoppers Stop, Syngene International, Tata Communications, Tamilnad Mercantile Bank, Zensar Technologies 

Results on January 23 Axis Bank, IDBI Bank, Canara Bank, Container Corporation of India, Amber Enterprises India, Craftsman Automation, Butterfly Gandhimathi Appliances, Gland Pharma, Gravita India, HFCL, Jammu & Kashmir Bank, Jindal Stainless, Poonawalla Fincorp, Route Mobile, Shoppers Stop, Syngene International, Tata Communications, Tamilnad Mercantile Bank, Zensar Technologies 

Bandhan Bank: The private sector lender's profit declined 66 percent year-on-year to Rs 290.6 crore in the December quarter, dented by higher provisions and lower growth in net interest income. Net interest income fell 2 percent YoY to Rs 2,080.4 crore, with 130 bps drop in net interest margin at 6.5 percent. The loan book grew by 11.1 percent and deposits rose by 21 percent YoY. LTIMindtree: The IT services company recorded a 16 percent sequential fall in profit at Rs 1,001 crore for the December quarter, with EBITDA at Rs 1,374.8 crore declining 16 percent QoQ and margin dropping nearly 4 percentage points QoQ to 15.95 percent. Revenue grew by 4.8 percent sequentially to Rs 8,620 crore, with dollar revenue growth at 2.4 percent and constant currency revenue growth at 1.9 percent for the quarter.

Stocks in the news:- Reliance Industries: The oil-telecom-to-retail major delivered strong operating performance for the quarter ended December FY23 with contributions from all segments. Its consolidated profit (excluding the impact of exceptional item) grew 0.6 percent YoY to Rs 17,806 crore for Q3FY23 and EBITDA grew 13.5 percent YoY to Rs 38,460 crore backed by strong growth in subscriber base and 17.5 percent increase in ARPU (average revenue per user) in the digital services segment. Gross revenue at Rs 2.4 lakh crore increased by 14.8 percent YoY, supported by continuing growth momentum in consumer businesses. ICICI Bank: The country's second-largest private sector lender recorded a 34.2 percent year-on-year increase in standalone profit at Rs 8,312 crore for the quarter ended December FY23 on healthy growth in NII and operating profit, with improvement in asset quality. Net interest income surged 34.6 percent to Rs 16,465 crore from the year-ago period with net interest margin expanding 69 bps YoY to 4.65 percent for the quarter. Profit and NII were ahead of analysts' estimates. Credit growth was 19.7 percent and deposits increased by 10.3 percent compared to the year-ago period. Kotak Mahindra Bank: The private sector lender reported a 31 percent year-on-year growth in standalone profit at Rs 2,792 crore for the quarter ended December 31, 2022 despite higher provisions, backed by healthy operating profit, other income and NII growth, with an improvement in asset quality. Net interest income for the quarter jumped 30.4 percent to Rs 5,653 crore, with 85 bps YoY expansion in net interest margin at 5.47 percent. Deposits for the quarter grew by 13 percent and advances increased by 23 percent from the year-ago period. UltraTech Cement: The Aditya Birla Group-owned cement company reported a 38 percent year-on-year decline in consolidated profit at Rs 1,058.2 crore for the December quarter, hit by weak operating margin. It reported an increase in raw material cost, power & fuel cost and freight & forwarding expenses YoY. Consolidated revenue from operations increased 19.5 percent to Rs 15,521 crore for the quarter YoY. IDFC First Bank: The bank clocked a 115 percent year-on-year growth in standalone profit at Rs 604.6 crore for the December FY23 quarter despite higher provisions, supported by strong other income, operating profit and NII and asset quality improvement. Net interest income at Rs 3,285.3 crore grew 27.3 percent compared to the year-ago quarter. Yes Bank: The private sector lender saw an 80.7 percent year-on-year decline in standalone profit at Rs 51.5 crore for the quarter impacted by ageing related provisions but supported by higher other income and operating profit with improvement in asset quality. Net interest income grew 11.7 percent to Rs 1,970.6 crore for the quarter YoY, with net interest margin rising 10 bps YoY (down 10 bps QoQ) to 2.5 percent. Advances for the quarter grew by 10 percent and deposits growth stood at 16 percent compared to the corresponding period of the last fiscal. RBL Bank: The bank reported a 34 percent year-on-year increase in profit at Rs 209 crore for the December quarter on fall in provisions with an improvement in asset quality. Net interest income at Rs 1,148 crore rose 13.6 percent from the year-ago period, with the net interest margin expanding 40 bps YoY to 4.74 percent. Advances for the quarter at Rs 66,684 crore were up 15 percent and deposits grew by 11 percent with CASA deposits rising 18 percent. Tanla Platforms: The cloud communications company recorded a 26.3 percent year-on-year decline in profit at Rs 116.5 crore in the December quarter, dented by lower top line and weak operating performance. Revenue at Rs 869.6 crore fell by 1.7 percent and EBITDA tanked 25 percent to Rs 151.4 crore with the margin down 550 bps from the year-ago period.

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Results on January 20 and January 21 Reliance Industries, HDFC Life Insurance Company, JSW Steel, LTIMindtree, Union Bank of India, Bandhan Bank, RBL Bank, Aether Industries, Atul, Coforge, DCM Shriram, Heritage Foods, Indian Energy Exchange, JSW Energy, NELCO, Petronet LNG, Ramkrishna Forgings, Shakti Pumps, and Tanla Platforms will be in focus ahead of their quarterly earnings on January 20. ICICI Bank, Kotak Mahindra Bank, SBI Life Insurance Company, UltraTech Cement, Yes Bank, IDFC First Bank, Dodla Dairy, Meghmani Organics, and Punjab & Sind Bank will also be in focus ahead of their quarterly earnings on due on January 21.

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