Stocks

Shoppers Stop stocks gain by over 6% on good Q3 results

PTI Mumbai | Updated on January 25, 2011 Published on January 25, 2011

CAUSE FOR CHEER: Shoppers Stop showroom in Chennai (file photo). -- Bijoy Ghosh   -  Business Line

Investors cheered the third quarter numbers of Shoppers Stop, as the retail chain’s shares on Tuesday jumped by over six per cent in the early trade on the Bombay Stock Exchange (BSE).

The company, had yesterday posted a 45 per cent increase in its standalone net profit for the third quarter ended December 31, 2010, at Rs 27.9 crore, against Rs 19.2 crore in the year-ago quarter.

Bolstered by smart earnings, the shares started the day on a robust note and surged by 6.16 per cent to touch an early high of Rs 388.60 a piece on the BSE.

The scrip saw a similar strength on the National Stock Exchange, and climbed by 6.56 per cent to trade at Rs 388.70 in the morning session.

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Published on January 25, 2011
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