Banking stocks have been trading mixed with Dena Bank, Punjab National Bank (PNB) and Syndicate Bank leading the pack of gainers. However, Canara Bank and Bank of India are trading weak. Bank of Baroda (BoB) has declared results for the first quarter of financial year 2011-2012 (1QFY12). The bank has reported 40% YoY growth in interest income. The net interest income has grown by 24% YoY in the quarter, on the back of 25% YoY growth in advances. The other income has also grown by a marginal 4% YoY in quarter due to fall in treasury income. Despite domestic yields on advances rising, global Net Interest Margins (NIMs) were sustained at 2.9% in the quarter. The net Non Performing Assets (NPAs) moved up marginally from 0.39% in 1QFY11 to 0.44% and Capital adequacy ratio was comfortable at 13.1% at the end of quarter. The stock of the company is trading in the green.
Power stocks have been trading mixed with National Thermal Power Corporation (NTPC), GVK Power and PTC India leading the pack of gainers. However, Power Grid and Jaiprakash Power are trading in the red. BGR Energy has announced the first quarter results of financial year 2011-2012 (1QFY12). The company has reported a 16.9% dip in its standalone net profit at Rs 503 m for the quarter .It had reported net profit of Rs 605 m in the year-ago period. Net sales for the quarter were also down 19% YoY (dipped to Rs 7,312 m as against Rs 9,054 m in the same period previous year). However, the EBITDA of the company grew by 1.7% at Rs 961 m during the quarter. As per the management, with coal linkage and environmental issues heading for resolution, contract awards for capacity addition from public sector segments is set to significantly increase in the current financial year. The management has said that BGR Energy is well positioned to service this demand and thereby capture a substantial market share. The stock of the company is trading weak.