SBI Cards and Payments reports 52.1% jump in profits

The Markets Today in a nutshell

• Domestic benchmark indices ended with decent gains.
• Strengthening rupee and decent Q2 earnings supported buying in domestic shares. Autos and oil & gas stocks were in demand. However, metals, pharma and healthcare stocks declined. The International Monetary Fund (IMF) has noted in a latest update that India’s economy is likely to expand at 6.8% in 2022, revised down by 1.4% points since the April 2022 World Economic Outlook because of a weaker-than- expected recovery in the second quarter and subdued external demand.

Capital Flows

News you could use

? Maruti Suzuki India rallied 5.6% remains top gainer on last day of the week.
after the auto major reported a standalone net profit of Rs 2,061.5 crore in Q2 FY23, steeply higher than Rs 475.3 crore recorded in Q2 FY22. Net sales jumped 47.91% to Rs 28,543.5 crore in quarter ended 30 September 2022, as against Rs 19,297.8 crore posted in the same period last year.

? SBI Cards and Payments reports 52.1% jump in profits.
The company’s net profit jumped 52.1% to Rs 525.64 crore on 28.1% rise in total income to Rs 3,453.32 crore in Q2 FY23 over Q2 FY22. Interest income increased by 26.5% to Rs 1,484.46 crore in Q2 FY23 as against Rs 1,173.16 crore recorded in the same quarter last year. Income from fees and services surged 29.5% to Rs 1,611 crore in the Q2 FY23 from Rs 1,244 crore posted in Q2 FY22.

? TATA Chemicals decline as company’s operating income missed analyst estimates.
Analysts said the company’s operating income was lower than expectations. The Tata group company on October 27 reported income from operations on a consolidated basis at Rs 4,239 crore, up 40 percent from Rs 3,022 crore in the year-ago quarter. Consolidated profit from continuing operations was at Rs 685 crore as compared to Rs 248 crore in the corresponding quarter of the previous year.

News from the IPO world?

• Global Health IPO to open on November 3
• Medanta hospital chain IPO to open on Nov 3
• DCX Systems IPO set to opens next week
• Fusion Micro Finance IPO open for subscription on November 2
• Four IPOs aim to raise Rs, 4500 crore next week

Numbers? that matter