The stocks of Bajaj Auto Ltd., Bharat Heavy Electricals Ltd., Mahanagar Gas Ltd. and JSW Energy Ltd. are in focus on Wednesday after the companies announced their third-quarter results.
While e-Mudhra Ltd. fell the most, Syrma SGS Technology saw the highest gains among the companies that announced their results post market hours on Tuesday.
JSW Energy shares opened in the negative after the company reported a 27% fall in its profit to Rs 168 crore. This compares to Bloomberg estimates of Rs 347 crore.
Bajaj Auto on the other hand rose nearly 5% after the auto firm reported a 3% rise in its net profit to Rs 2,108.73 crore. The revenue rose more than 5.7% on the back of a surge in electric two-wheeler sales. In addition, Goldman Sachs, on Wednesday, hiked the target price of the Pulsar maker to Rs 10,800 per share.
Mahanagar Gas saw a fall with the profit falling 20.3% to Rs 225 crore, however, the stock was trading in the green on Wednesday.
BHEL shares rose nearly 5% after the company reported a two-fold rise in the profit to Rs 135 crore in comparison to a Rs 60.3 crore reported in the same quarter last year.
Suzlon Energy also saw a near two-fold jump in its net profit to Rs 386 crore. The shares of the wind turbine manufacturer hit the upper circuit on Wednesday as the firm’s revenue rose 91% to Rs 2,968.8 crore. In addition Nuvama has upgraded Suzlon Energy to ‘buy’ with a revised target price of Rs 60 per share.
Colgate-Palmolive Ltd.’s shares opened in the red on the back of a 2.2% fall in its net profit to Rs 323 crore in the third quarter of this fiscal. The shares of Bosch Ltd. were also trading lower after the company reported a 11.6% fall in the net profit to Rs 458 crore.
In contrast, the shares of Exide Industries Ltd. rose due to a 2% rise in its net profit at Rs 245 crore.
VIP Industries Ltd. and ideaForge shares fell after they posted a net loss in the December quarter, while GMR Airports Ltd. rose on swinging to profit in the quarter. SBI Cards Ltd. fell nearly 5% despite the company reporting a 30.2% surge in the net profit.
Piramal Pharma Ltd. reported a 63.6% fall in its net profit as tax expense rose by Rs 63.1 crore. The shares were trading 6% lower on Wednesday.
The shares of CSB Bank Ltd. and UTI AMC fell nearly 2% and 4%, respectively, after a decline in the profit. The shares of Tatva Chintan Ltd., e-Mudhra, Motilal Oswal Financial Services Ltd. and R R Kabel Ltd. were also trading in the red on Wednesday. Star Health & Allied Insurance, IFB Industries Ltd., Ami Organics Ltd., CE Info Systems Ltd. and Share India Securities Ltd. were also down after reporting their results.
TVS Holdings Ltd., Syrma SGS Technology Ltd., Le Travenues Ltd., M&M Financial Services and Som Distilleries and Breweries Ltd. were trading in the green after announcing their third-quarter results. Home First Finance Co., JM Financial Ltd., PDS, PTC India Financial Services Ltd., SIS were up on strong third-quarter results.
. Read more on Earnings by NDTV Profit.While e-Mudhra Ltd. fell the most, Syrma SGS Technology saw the highest gains among the companies that announced their results post market hours on Tuesday. Read MoreQuarterly Earnings, Markets, Business
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