After waiting an entire year, you get about 8.5 per cent interest on your deposits at the end of the year. You can make that kind of returns in a single day if you buy and sell shares ahead of quarterly results. But, here's the warning - remember, if you are on the wrong side of the results, you can lose substantial money as well.
Union Bank of India jumped a 8 per cent on the day of its results. On the other hand somebody who short sold Punjab National Bank ahead of its results would have gained 9 per cent.
As we warned earlier, you can make or lose money. The idea of suggesting ahead of the results are announced is because the stock is more volatile then any other day, giving an opportunity for solid returns or solid losses).
As we write the excitement might shift to the results of State Bank of India to be announced on Friday. If asset quality of the bank improves be rest assured that the bank's stock could spurt. It could rally other PSU banking stocks as well.
Apart from that there could be some buying ahead of he RBI's credit policy where an interest rate cut is almost certain. So, look for events and quarterly results, if you are bored of markets moving in a tight range everyday.