Market this week 12-Nov-2021
- SBI reaches 52-week high before September quarter earnings
- TCPL Packaging shares rise 10% after acquiring Creative Offset Printers, a major stake in the company
- TVS Motor’s shares hit 52-week highs due to plans to raise funds for EVs
- India Cements share price drops 6% as profits decline in September
- Zee Media share price is up 2% as board considers further investment from promoters
SBI reaches 52-week high before September quarter earnings
The State Bank of India (SBI), India’s largest lender, expects its Q2FY22 profit to increase due to lower credit costs and provisions for bad loans, on November 3.The share price of State Bank of India has reached a 52-week high of Rs 528.15, rising more than 1 percent intraday on November 3 as the company is about to announce its September quarter earnings. Experts predict a profit growth of 50-100 percent compared to last year. Net interest income is expected to grow flat-to-moderate, with loan growth in the high single digits YoY.
TCPL Packaging shares rise 10% after acquiring Creative Offset Printers, a major stake in the company
TCPL Packaging share prices rose 9.8 percent intraday to Rs 570 on November 4, or Diwali Muhurat Trading 2021 Day, following the company’s acquisition of major stakes in Creative Offset Printers. The packaging solutions provider said it had approved the acquisition of a majority stake in Creative Offset Printers (COPPL).Through this acquisition, TCPL entered a high-potential segment for rigid boxes focusing on one of the fastest growing smartphone markets in the world.
India Cements share price drops 6% as profits decline in September
Shares of India Cements fell 6 percent to Rs 209.10 intraday on November 10 after the company reported declines in its September quarter net profit .The company reported a 69.2% decline in its Q2 net profit at Rs 21.97 crore versus Rs 71.43 crore last year. Revenue climbed 11.3 percent to Rs 1,190.17 crore from Rs 1,069.72 crore .Earnings before interest, taxes, depreciation, and amortisation (EBITDA) decreased by 43.1 percent to Rs 133.6 crore as against Rs 234.7 crore and margin was 11.2 percent versus 21.9 percent for the year.
Zee Media share price is up 2% as board considers further investment from promoters
Zee Media Corporation’s share price increased by over 2 percent intraday on November 10 after the company received a proposal from a promoter group entity for further investment in the company .On November 12, 2021, the board of directors of Zee Media Corporation will meet to consider, approve and take on record un-audited financial results of the company for the second quarter (Q2) and six months ended September 30, 2021.Currently, the stock is trading 24.72 percent below its 52-week high and 167.55 percent above its 52-week low.
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