Mid-day Market Movers: As markets witness positive action, these banking and financial stocks lead the A Group

Poonawala Fincorp, Credit Access Grameen and RBL Bank post stellar Q4 results.

The 5-day losing streak halted and all sectoral indices traded in green in the mid-day session on Friday while India VIX (volatility index) falls by 4.9 per cent. Nifty50  briefly reclaimed the 16000 milestone but slipped at15,846.60 with a gain of 0.2 per cent  or 39 points and Sensex is trading at 53,107.20 with a gain of  0.3 per cent or 177 points 

Poonawala Fincorp, Credit Access Grameen and RBL Bank witnessed positive action in today’s session 

Poonawalla Fincorp is up by 15.91 per cent in today’s session and is currently trading at Rs 250.90. The rally was on the back of turnaround Q4 numbers for the NBFC. For the quarter that ended on March 31, 2022, consolidated PAT stood at Rs 119 crore compared to a loss of Rs 648 crore YoY. AUM witnessed a growth of 16.5 per cent and stood at Rs 16,579 crore. 

RBL Bank reported its Q4 results with Net Interest Income at Rs 1131 crore, up 25 per cent YoY while NIM grew by 5.04 per cent, PAT in Q4 grew by 163 per cent to Rs 198 crore from Rs 75 crore on YoY basis. The bank posted CASA growth of 20 per cent YoY to Rs 27,879 crore with a CASA ratio of 35.3 per cent vs. 31.8 per cent in Q4FY21. At the time of writing, the shares of RBL Bank were trading at Rs 110.85 up 9.19 per cent or Rs 9.10. 

Credit Access Grameen Ltd reported its financial results yesterday after market hours. The NBFC catering to low-income households reported a strong jump of 184.52 per cent in consolidated PAT on YoY at Rs 160.13 crore while Net interest income (NII) increased by 12.1 per cent YoY from Rs 463.7 crore to Rs 519.6 crore. It reported a healthy capital position with consolidated CRAR of 22.8 per cent. At the time of writing, the shares of Credit Access Grameen were trading at Rs 935 up 7.19 per cent or Rs 62.75.