Stock Market Corner

Stock Corner

  1. Shares of Apollo Hospitals plunged 10.6 percent as concerns over the rise in Pledged shares. Shares fell over 13 percent in intraday trade, the most since December 2011. Shareholders wealth in terms of market capitalisation fell by Rs 1860 crore on MondayRecent data suggest that pledged shares have gone up by 5 percent recently which were largely due to the unwinding of KKR instrument which was closed out in January.
  3. Royal Enfield maker Eicher Motors’ third quarter (October-December) consolidated profit grew by 2.4 percent year-on-year to Rs 533 crore with low revenue growth and weak operating income. Profit in same quarter last year stood at Rs 530.9 crore. Revenue from operations in Q3 increased 3.2 percent to Rs 2,341 crore year-on-year, but Royal Enfield sales volume declined 6 percent YoY against 3.6 percent rise in Q2.
  4. Low cost airline carrier SpiceJet has posted a steep 77.1 percent year-on-year decline in profit to Rs 55.1 crore, dented by higher aircraft fuel expenses. Its profit in same period last year was at Rs 240 crore. The company said revenue from operations during the quarter grew by 20.2 percent to Rs 2,487 crore year-on-year.
  5. State-run Power Finance Corporation’s third quarter profit grew by 70.6 percent year-on-year to Rs 2,075.8 crore, driven by one-time gain of Rs 641 crore. Revenue from operations during the quarter increased 18 percent to Rs 7,362 crore compared to Rs 6,246 crore in same period last year.

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