UCO Bank stock rises over 4% after Q3 net profit more than doubles

Following the strong Q3 numbers, shares of UCO Bank got off to a great start during Wednesday's trade at ₹30.20 apiece, as against the previous closing price of ₹29.45. The stock rose further, reaching an intraday high of ₹30.75.

Nifty Bank index likely remain sideways in coming weeks, says analysts

Phil Noble

<ul><li>The Nifty Bank Index has been performing well for the past two months and is expected to continue its positive bias in the coming weeks. Analysts recommend buying stocks of Federal Bank Ltd, Kotak Mahindra Bank Ltd, and IndusInd Bank Ltd., while keeping an eye out for potential consolidation. The immediate support for the banking index is 42,900 level and its resistance is at 43,500-44,300 level.</li></ul>

Market Wrap: Sensex, Nifty scale fresh closing peaks; mid, smallcaps outperform

Sensex closed 21 points, or 0.03%, up at 62,293.64 and Nifty settled at 18,512.75, up 29 points, or 0.15%. Thus, both indices registered their fresh closing highs.

Private banks post solid earnings in Q2 driven by margin expansion and a fall in bad loans

According to the most recent RBI data, bank credit increased 17.94% YoY as of October 21, 2022. Deposit growth was 9.5% during the same period. Going forward, credit rating agency firm, Crisil sees bank credit to grow at 15% this fiscal and the next, citing broad-based economic recovery.

Nifty Bank hits all-time high; 42,100 next resistance

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Nifty Bank is up 18% this year so far against a 5% gain in equity benchmark Nifty50.

<ul><li>Nifty Bank is up 18% this year so far against a 5% gain in equity benchmark Nifty50.</li></ul>

Nifty and Sensex are nearing all-time highs, with gains led by banking and auto stocks

After FPIs made a U-turn in July by investing nearly ₹5,600 crore, the Nifty rallied 8.60% and the Sensex gained 8.56%. In addition to that, the Indian market outperformed most of its global peers in the same month. July stands as one of the best months for the markets.

5 banking stocks priced below ₹100 have seen gains ranging from 35-105% in six months

During Monday's intraday trade, shares of Karnataka Bank climbed the 100-level mark for the first time since January 2018, reaching a new 52-week high of ₹104.80 before closing the day with 6.29% gains at ₹104. The bank reported a 52 per cent jump in its net profit at ₹250 crore in Q2.

Better-than-expected Q2 numbers boost prospects of banking stocks

Among the six large banks - Kotak Mahindra Bank, ICICI Bank, HDFC Bank, Axis Bank, IndusInd Bank and SBI - five have declared their September quarter numbers so far, barring SBI.

<ul><li>Among the six large banks - Kotak Mahindra Bank, ICICI Bank, HDFC Bank, Axis Bank, IndusInd Bank and SBI - five have declared their September quarter numbers so far, barring SBI.</li></ul>

Results preview: Acceleration in credit growth will boost banks margins in Q2; deposit growth would be a key

The brokerage firm expects its coverage banks to report 4.0% QoQ loan growth, 2.9% deposit growth, and 5.5% NII growth, with NIM increasing by 9bps QoQ to 3.74%. The expansion of net interest margins for private banks will be higher by 11bps compared to 5bps for PSU banks.

Nifty Bank jumps nearly 3% after RBI MPC outcome; here's why

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<ul><li>The banking stocks gained after RBI Governor Shaktikanta Das said bank credit expansion was buoyant.</li></ul>

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UCO Bank stock rises over 4% after Q3 net profit more than doubles

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