Fino Payments Bank and Just Dial shares climbed 10% and 13% respectively after reporting strong growth for the quarter. Fino saw a significant rise in new accounts, while Just Dial reported a 4% increase in net profit. Investors are now tracking whether these companies can maintain this growth trajectory amid changing market conditions.
Shares of Fino Payments Bank and Just Dial saw notable gains on July 13, driven by positive business updates released for the June quarter. Fino Payments Bank stock rose 10% after the company reported that its average total deposits grew 11% year-on-year to Rs 2,755 crore. Additionally, the bank saw a 31% increase in new account openings, reaching 3.13 lakh for the period. This growth in account acquisition is a primary indicator of customer base expansion, which investors typically monitor to gauge the long-term reach of a payments bank.
Just Dial Growth Driven by Profit and Revenue
Just Dial shares rallied 13% following the announcement of its June quarter results. The company posted a net profit of Rs 166.2 crore, marking a 4% increase compared to the same quarter last year. Revenue for the period reached Rs 327.5 crore, up 10% year-on-year. For investors, the key area of focus for Just Dial remains the company’s ability to convert its large user base into higher revenue per user, especially as the digital advertising market becomes increasingly competitive.
Mixed Market Sentiment Across Other Stocks
While some companies saw gains, other market movements were influenced by management changes and regulatory updates. L&T Finance Holdings shares rose 3% after the company reported a 28.7% jump in net profit to Rs 902.5 crore, supported by a 28.4% rise in net interest income. Conversely, Jindal Steel shares fell 2% following the announcement that Chief Executive Officer Gautam Malhotra will step down from his position, effective July 15. Leadership transitions often lead to temporary uncertainty among shareholders until a successor is clearly defined.
Additionally, Swiggy shares slipped 2% after the company received a modified food safety license from the FSSAI for its ordering platform, Toing. Avenue Supermarts also saw its stock decline by 2%, despite reporting an 11.3% rise in net profit and a 14.9% increase in revenue. This type of reaction, where a stock falls despite positive financial growth, often suggests that the market may have already priced in the expected results or that investors are reacting to specific underlying cost pressures or margins that were not met. Going forward, investors will likely monitor how Fino Payments Bank manages its deposit costs and whether Just Dial can sustain its current revenue growth rate in coming quarters.