TVS Motor up over 5% as Q3 profit beats forecast
.jpg)
TVS Motor Company has moved higher by 5.5% to Rs 402 on the National Stock Exchange (NSE), after the company reported a better than expected 10% year on year (YoY) growth in net profit at Rs 133 crore for the quarter ended December (Q3FY17).
Revenues from operations grew by 3% YoY to Rs 3,240 in Q3FY17 as against Rs 3,151 crore recorded in the quarter ended December 2015. EBITDA (earnings before interest, tax, depreciation and amortization) margin remained unchanged at 6.7% during the quarter.
Analyst on an average had expected profit of Rs 100 crore on revenues of Rs 3,000 crore.
TVS Motor said the total two-wheeler market share increased to 15.5% for the quarter compared to 14.3% in Q3 last year.
At 02:59 pm; the stock was up 5% at Rs 400 on the NSE, trading close to its 52-week high of Rs 420 touched on October 27, 2016 in intra-day trade. The trading volumes on the counter jumped more than five-fold with a combined 5.69 million shares changed hands on the BSE and NSE so far.
Other Latest News
.webp)
Fintech firm BharatPe on Tuesday said it has elevated its interim CEO and chief financial officer Nalin Negi as full-time chief executive officer.
Negi was given charge of interim CEO in January 2023 after then CEO Suhail Sameer stepped down from the post.
.webp)
Two individuals have been arrested by the Mumbai Crime Branch late on Monday night for allegedly firing shots outside the residence of Bollywood actor Salman Khan in Bandra West on April 14, several media outlets reported.
"Both individuals, who fled Mumbai following the shooting, were apprehended in Bhuj, Gujarat," stated officials, as per news agency ANI. The Mumbai police confirmed that the detained individuals, identified as Vicky Gupta and Sagar Pal from Champaran, Bihar, will be transported to Mumbai for further interrogation.
.webp)
Tata Consultancy Services has topped the LinkedIn's latest list of top companies to work for in India, followed by Accenture and Cognizant in the second and third place respectively.
Professional networking platform LinkedIn on Tuesday released the 2024 Top Companies list for India wherein IT companies bagged the top three ranks, while financial services firms dominated the list with 9 out of 25 companies from this sector.
.webp)
Shares of Vodafone Idea dropped as much as 3.95 per cent to hit an intraday low of Rs 12.64 per share. The drop comes in reaction to the follow-on public offering (FPO) anchor book, which will open today.
Vodafone Idea shares have plunged 25.19 per cent year-to-date (YTD), but have surged 7 per cent in the past 6 months.
.webp)
Srinivas Pallia, who has been a part of Wipro for over three decades, divested all his shares valued at Rs 5 crore in the company approximately a month and a half prior to his appointment as the new chief executive, according to a report by The Economic Times (ET).
Pallia sold his 100,000 Wipro shares through a 'market sale' on February 14 this year, with the transaction being reported to the exchange on February 15. The total transaction amounted to Rs 5.05 crore, the report added. Following the transaction, Pallia's holdings of securities on the BSE were reduced to zero.
.webp)
.webp)
.webp)
.webp)
.webp)
