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Shares of Petronet LNG today rose nearly 4 per cent after the company posted 55 per cent jump in standalone net profit for the quarter ended June 30.
The scrip gained 3.7 per cent to touch its one-year high of Rs 366.30 on the BSE.
On the NSE, shares of the company went up by 3.66 per cent to Rs 366.35.
Stock markets were closed yesterday for ‘Ganesh Chaturthi’
Petronet LNG had yesterday posted a 55 per cent jump in standalone net profit at Rs 377.86 crore for the quarter ended June 30.
The company had reported a net profit of Rs 244.12 crore in the corresponding quarter a year ago, it had said in a BSE filing.
However, total income during the period under review fell to Rs 5,386.66 crore from Rs 8,411.61 crore a year ago.
Petronet LNG has set up the country’s first LNG receiving and regasification terminal at Dahej, Gujarat, and another terminal at Kochi, Kerala.
Inox Wind
Shares of wind turbine maker Inox Wind today slumped 16 per cent after the company reported 80 per cent decline in consolidated net profit for the first quarter ended June 30.
After a weak opening, the scrip further plunged 16 per cent to Rs 161 — its 52-week low — on the BSE.
On the NSE, shares of the company nosedived 14.94 per cent to hit its one-year low of Rs 163.
Inox Wind had on Friday reported an 80 per cent decline in consolidated net profit at Rs 11.82 crore for the first quarter.
The firm had clocked a net profit of Rs 60.42 crore in the year-ago period, it had said in a BSE filing.
Total consolidated income of the company fell 32 per cent to Rs 435 crore in April-June quarter this fiscal from Rs 644 crore during the same quarter in 2015-16.
Its total expenses were lower at Rs 399 crore as against Rs 557 crore during the period under review.
Jubilant FoodWorks
Shares of Jubilant FoodWorks tanked nearly 10 per cent today after it reported a 31.09 per cent fall in standalone net profit for the first quarter ended June 30.
After a weak opening, shares of the company further plummeted 9.75 per cent to Rs 1,065 on BSE.
On the NSE, shares of the company dived 9.88 per cent to Rs 1,066.20.
Stock markets were closed yesterday for ‘Ganesh Chaturthi’
Jubilant FoodWorks, which operates Domino’s Pizza and Dunkin Donuts chains in India, had on Saturday reported a 31.09 per cent fall in standalone net profit at Rs 18.99 crore for the first quarter.
The company had posted a net profit of Rs 27.56 crore in the same period of the previous fiscal.
However, total income from operations went up by 6.69 per cent to Rs 608.91 crore during the quarter under review against Rs 570.68 crore in the year-ago period, Jubilant FoodWorks had said in a filing to the BSE.
MindTree
MindTree shares hit 22-month low on Q2 revenue warning.
Stock of IT services firm fell as much as 7.61 per cent to Rs 507.10, its lowest since October 2014.
The company had said on Friday it expects Q2 FY2017 revenue to be lower than the previous quarter.
It also said that added margins are going to be lower than planned with a decline in EBITDA margins in Q2 FY2017.
According to Emkay Research, MindTree results “confirm worst fears” of challenging FY17 for the sector as a whole.
“While MindTree remains hopeful of improvement in H2FY17 citing pipeline, we continue to see downside risks to overall industry growth,’’ it says.
The brokerage has retained its “reduce” rating, and has cut the price target to Rs 490 from Rs 520.
The stock had fallen 23 per cent so far this year as of Friday’s close, compared with a 6 per cent decline in the Nifty IT index.
Tata Motors
Tata Motors rose on report that JLR plans to make Land Rover SUVs for Indian market.
Shares of Tata Motors rose as much as 2.7 per cent to Rs 565, highest since April 10, 2015.
Jaguar Land Rover, a unit of Tata Motors, is planning to make Land Rover SUVs in India for the local market and exports, according to a media report citing three people with knowledge of the matter.
A manufacturing plant in India will help improve the company's global footprint and efforts to take annual sales to a million units by the turn of the decade, the report said.
Tata Motors could not be immediately reached for a comment.
As of Friday's close, the stock was up 40 per cent this year, compared with a 21 per cent increase in the Nifty Auto index.
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