How BOB, ICICI Bank and RIL Shares Will React On Monday?

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Bank of Baroda, Reliance Industries and ICICI Bank will react to their quarterly numbers on Monday. Results were declared by all three of them, after market hours on Friday.

Here’s a look at how some of these stocks could react to their quarterly results early next week.

Remember, both ICICI Bank and Bank of Baroda shares could be exceedingly volatile, given that we also have the RBI’s Monetary Policy Committee meet decision on Aug 1, 2018.

ICICI Bank

Shares in ICICI Bank is likely to react negatively, when trading opens on Monday. The bank reported a net loss, for the quarter ending June 2018, which was surprising. The net loss was largely as the bank chose to set aside more money to cover for bad loans.

According to news reports, this is the first quarterly loss reported by the private sector bank since at least 2001. Most analysts were expecting a net profit to be declared by the bank to the tune of around Rs 1,400 crores.

Shares of ICICI Bank last closed at Rs 293 on the NSE. 

Bank of Baroda

Bank of Baroda shares are likely to spurt, as the bank’s net profits surprised on the upside. Most analysts had expected net profits in the region of Rs 200 crores.

Bank of Baroda’s net profit more than doubled to Rs 528 crore in the quarter ending June 30, 2018 as compared with Rs 203 crore in the year-ago period.

The gross non performing assets of the bank deteriorated marginally and was placed at 12.46 percent compared with 12.26 percent in the previous quarter of last year.

The shares of Bank of Baroda last closed at Rs 138 on the NSE.

Reliance Industries

The company once again reported a stellar set of quarterly numbers. Reliance Industries reported a 4.47 percent increase in net profit at Rs 9,485 crore in the first quarter of the financial year 2018-19 from Rs 9,079 crore for the same period last year.

Its standalone profits were at Rs 8,820 crore, which grew at 1.4 percent from the previous quarter, as per the company’s stock exchange filing.

Reliance Jio reported a net profit of Rs 612 crores for the quarter ending June 30, 2018, which was more or less in line with estimates.

How BOB, ICICI Bank and RIL Shares Will React On Monday?

The petchem margins and the gross refining margins were more or less in line with estimates.

The shares of Reliance Industries is expected to gain 1 to 2 per cent, when the shares open for trading on Monday.

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This story has not been edited by Topic Hunt (with the possible exception of the headline) and has been generated from a syndicated feed. (GoodReturns)

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