Muthoot Finance shares jumped 6.5% after reporting a 26% YoY net profit growth in Q3 to Rs 1,389 crore. Loan AUM hit Rs 1.11 lakh crore, with strong gold loan growth. Analysts remain divided on the stock's outlook, with 13 recommending a "buy."
The Reserve Bank of India has lifted the restrictions on Kotak Mahindra Bank, allowing them to onboard new customers and issue credit cards again. Analyst Rahul Malani from Mirae Asset Sharekhan suggests this will boost Kotak's operating performance and market share, making the stock an attractive investment due to its reasonable valuations and positive outlook.
Hemang Jani believes market volatility presents a buying opportunity, particularly in midcaps and smallcaps. Kotak Bank is expected to see strong growth after RBI lifts restrictions, similar to Axis Bank's performance post-relaxation. Market skepticism towards Jio persists due to a lack of concrete execution and growth numbers, unlike companies like Bajaj Finance.
Kotak Mahindra Bank's shares rose after the RBI lifted restrictions on issuing new credit cards and opening accounts through online or mobile banking. Banks, including HSBC, JP Morgan, Morgan Stanley, and UBS, positively view the development, predicting enhanced customer acquisition and improved financial performance.
Honasa Consumer, Mamaearth's parent company, reported a net profit of Rs 26 crore for Q3FY25, almost unchanged from the previous year's Rs 25.9 crore. Revenue from operations increased by 6% YoY to Rs 518 crore. The company showed strong growth momentum, with Mamaearth expanding market share and household penetration.
In the Nifty500 pack, four stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on February 12, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
LK Mehta Polymers will launch its SME IPO on February 13, targeting to raise about Rs 7 crore through 10.4 lakh shares. Priced at Rs 71 per share with a GMP of Rs 10, the proceeds aim to meet working capital needs and general corporate purposes.
About 460 companies are set to announce their Q3 earnings, including Hindalco and SJVN. Hindalco is expected to show robust growth, with a 62% YoY profit increase and an 11% revenue rise due to higher aluminium and alumina prices. Novelis may struggle with lower EBITDA due to tight scrap availability and flooding impacts at its Swiss plant.
Australian shares opened fractionally higher Thursday. Equity index futures for Japan and Hong Kong also climbed while a gauge of US-listed Chinese companies advanced 2.7% Wednesday. US equity futures edged higher after the S&P 500 fell 0.3% Wednesday and the Nasdaq 100 rose 0.1%.
