Here’s a look at those stocks that are seeing a positive reaction to their result:
ACME Solar Holdings
Shares of Acme Solar Holdings have surged as much as 10% on Monday in response to their quarterly results.The company’s revenue went up by 65% from last year to ₹510.9 crore, while its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) grew by 62% year-on-year to ₹441.7 crore. EBITDA margins remained stable, though they declined by 120 basis points from last year.
The company’s operational portfolio now stands at 2,870 MW, ad the company intends to have generation capacity of 10 GW and 15 GWh Battery Energy Storage Systems (ESS) capacity by 2030.
Aadhar Housing Finance
Shares of Aadhar Housing Finance are trading with gains of 6% on Monday, after the company’s disbursements, and growth in Assets Under Management (AUMs) remained strong during the quarter.
Aadhar Housing’s AUM grew by 22% from last year, while disbursements saw growth of 32% from the year-ago quarter.
The management maintained its AUM growth guidance of 20% to 22% for the full year.
Blackstone has also submitted its open offer proposal for Aadhar Housing, which could be another key trigger for the stock.
Poonawalla Fincorp
The stock is the second-best performing stock on the Nifty 500 today in response to its June quarter earnings performance.The company’s Assets Under Management (AUM) grew by 53% from last year to ₹41,273 crore, while its Net Interest Income (NII) grew by 13.6% on a year-on-year basis. Asset quality remained stable.
Shares of Poonawalla Fincorp are trading 6.6% higher on Monday at ₹440.4.
Eclerx
Shares of Eclerx gained as much as 4% during the quarter after reporting a 4.1% sequential growth in its US Dollar revenue. Margins remained constant from the previous quarter, while growth in constant currency terms stood at 3.3%.
New Deal Wins during the quarter stood at $32.3 million, higher than the same quarter last year, but lower on a sequential basis.
Laurels good
The stock reported results towards the close of trade on Friday but did not see any major reaction post that.
However, the stock is currently trading with gains of close to 7%, testing levels of ₹900, and making a new high in the process.
In an interaction with CNBC-TV18, the management of Laurus Labs said that gross margins will remain in the 55% to 60% band for this year, while the CDMO business is heading towards a ₹500 crore per quarter revenue run rate.
However, at least three brokerages, who cover the stock, did raise their price targets, but still project a potential downside of as much as 33% from current levels.
