InterGlobe Aviation, the parent company of IndiGo, saw a sharp increase in its stock price by 4.45% after reporting a 15-fold increase in profit and 30.1% increase in revenue in the December quarter. On the other hand, India's largest public lender, State Bank of India, saw a drop in its stock price by 0.35% despite a 4.6% increase in NII. In the NBFC sector, LIC Housing Finance's stock price rose by 31.3% after reporting a jump in NII but a slight decline in NIM. The parent company of Paytm, One 97 Communications, has been facing a huge downfall since RBI's order to stop accepting fresh deposits, leading Zee Business's Managing Editor to suggest selling the stock.
IndiGo's Remarkable Performance: InterGlobe Aviation, the parent company of IndiGo, witnessed a remarkable surge in its stock price, driven by impressive financial results. The company's profit soared by 15-fold, while revenue increased by 30.1% in the December quarter. This positive performance contributed to the 4.45% stock price increase.
State Bank of India's Mixed Results: State Bank of India, India's largest public lender, experienced a contrasting performance. Despite a 4.6% growth in net interest income (NII), the stock price dropped by 0.35%. Investors seemed cautious as the bank faces challenges in managing its asset quality.
LIC Housing Finance's Strong Showing: LIC Housing Finance recorded a significant 31.3% gain in its stock price. This rise was fueled by a jump in NII, although the net interest margin (NIM) witnessed a slight decline. The company's solid performance resonated with investors, leading to the stock's positive movement.
Paytm's Troubles Continue: One 97 Communications, the parent company of Paytm, faced a steep decline in its stock price following the Reserve Bank of India's (RBI) directive to stop accepting fresh deposits. The stock's downward trajectory prompted Zee Business's Managing Editor to recommend selling the stock, highlighting the challenges Paytm faces in navigating the regulatory landscape.
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