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5 Stocks That Reacted To Earnings Results Today
Indian indices in Wednesday's trade pared some of the early gains but traded higher with Nifty above 8950 mark and Sensex up 0.87% or 262.92 at 30459.09. Here are listed the 5 stocks that have reacted to earnings results announced lately including Bajaj Finance, Apollo Tyres, L&T Infotech, Ujjivan SFB and Tata Power.
1. Tata Power:
Shares in Tata Power rose 7% to day's high price of Rs. 34.6 per share on the BSE after the company reported its Q4FY20 net profit at Rs. 474.7 crore. In the corresponding quarter a year ago, the company's profit was at Rs. 171.67 crore. Revenue at the company declined YoY to Rs. 6,620.80 crore as compared to Rs. 7,229.84 crore in Q4FY19.
For the year ended March 31, 2020, the board of the company has recommended a dividend of 1.55 per equity share of Rs 1 each or 155%. Last the shares of the company traded higher by 4.48% at Rs. 33.80 on the BSE.
2. Ujjivan Small Finance Bank:
The small finance bank post its Q4FY20 results surged up to 6% to day's high price of Rs. 28.15 per share on the BSE. The bank posted a 45.9% jump in its NII to Rs. 466.6 crore. Net profit also surged 14.7% but provisions increased to more than three times that in the previous quarter to Rs. 97 crore. Gross and Net NPA came in at 0.97% and 0.2%, respectively. At 12:12 pm, the stock pared its early losses to trade at Rs. 27.4, up 3.2% on the BSE.
3. Bajaj Finance:
In early trade shares of Bajaj Finance were trading mixed and last quoted at Rs. 19990.90, up 1.2%. The stock hit a day's high price of Rs. 2023.5 per share on the BSE. The NBFC major post market hours on Tuesday reported a 19% decline in consolidated net profit at Rs. 948 crore. For Covid 19, the company has made provision to the tune of Rs. 900 crore.
4. L&T Infotech:
Shares of the IT company, L&T Infotech rose more than 7% after the company's healthy Q4FY20 results. Net profit at the company grew 13% YoY to Rs. 427.5 crore. Also, dollar revenue grew by 4% year-on-year. Margins also have increased during the review period to 19.2% compared to 18.8% earlier.
The Board of Directors have recommended a final dividend of Rs 15.5 per equity share of Rs 1 each. Last, the stock quoted at Rs. 1779.00, up 6.58% on the BSE.
5. Apollo Tyres:
Shares in Apollo Tyres traded weak by 1% at Rs. 90.80 per share. The tyre company posted a 7.36% decline in its consolidated net profit to Rs 77.8 crore for the fourth quarter ended March 31, 2020. In its analysts' call the management forecast a grim near-term outlook.
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