RBL Bank (which is in seven stock screeners today) fell in share price after its Q2 results announcement. While both net profit and revenue YoY rose more than 30%, and asset quality is stable, the bank saw higher provisions year-on-year, which has impacted profitability. The bank is also reeling from Morgan Stanley having cut its rating for the bank less than two weeks after raising it.
Textiles company Welspun India declared a 21.4% increase in consolidated net profit at Rs 121.69 crore for the September quarter. The company said that it was seeing stronger retail sales, and volume growth in the quarter. The US economy has been strong, with unemployment at record lows, helping industries across the board. For the full results dashboard, click here.