Speaking to CNBC-TV18 Pranoy Kurian, IDBI Capital Markets, said that the topline is a positive surprise. If revenues declined only 1 percent it means there is positive movement in realisation.
Speaking to CNBC-TV18, Sudeep Anand of IDBI Capital Markets says that upstream companies are likely to outperform downstream companies in near t- mid-term. IDBI Capital has a buy call on ONGC and GAIL.
Vaibhav Agarwal of Angel Broking says on the asset quality front, the bank has reported good numbers. It indicates that like its third quarter, in the fourth quarter too SBI did good recovery and upgrades, he says.
Jignesh Shial, research analyst at IDBI Capital Markets said the numbers seem okay. He said the bank‘s profit took a hit on higher provisioning. At an operational level, the performance seems stable, he told CNBC-TV18.
The bank‘s NII grew by 20 percent to Rs 3,799 crore for the quarter ended March 2015 compared to Rs 3,165.8 crore in the year-ago period.
Bank of India's third quarter net profit fell 70.4 percent year-on-year to Rs 173.4 crore on higher provisions and employee expenses. Moreover, slow growth in net interest income and lower other income, operating profit impacted the profitability during the quarter.
The Foreign Investment Promotion Board had cleared HDFC Bank‘s proposal in December and had cleared Lupin‘s FDI proposal in November.
Jignesh Shial, research analyst, IDBI Capital Markets likes HDFC Bank the most among private banks and State Bank of India among public sector banks. He is also bullish on City Union Bank, Karur Vysya Bank and Federal Bank.
Even the Rs 14,000 crore earmarked by the government for capital infusion into banks may not help solve issues now, says Jignesh Shial, IDBI Capital Markets. He does not advocate buying PSUs only on the basis of recapitalisation.
The government raised USD 56.84 million by selling some of its shares in state-run Rashtriya Chemicals and Fertilizers Ltd (RCF) on Friday, as part of a divestment drive to help rein in the budget deficit.