Top gainer: Apollo Hospital 6,753 ▲ 164 (+2.4%)
Top loser: Divi’s Lab 4,660 ▼ 201 (-4.1%)
HEG shares plunge 8% as Q1 earnings take a hit
HEG has reported a sharp 83.4% decline in its net profit to ₹23 crore in Q1 FY25 against ₹139 crore in the year-ago period. The company’s sales slipped 14.9% to nearly ₹571.5 crore in the June quarter, compared to ₹671.4 crore a year ago. At the operating level, HEG’s earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 73% year-on-year to ₹38 crore during the quarter under review. EBITDA margins slipped to 6.7% in Q1 FY25 from 21% in Q1 FY24. Read more
Allied Blenders shares up 3% as company posts Q1 net profit of ₹11 crore; EBITDA grows 44%
Shares of the company reacted to the quarterly earnings and were trading 3% higher at ₹312.35 apiece on the NSE on Wednesday. Allied Blenders’ earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter jumped 44% YoY to ₹76 crore. The EBITDA margins expanded to 10% compared to 6.5% in the corresponding period last year. However, the company’s total consolidated income from operations fell 6.8%% year-on-year (YoY) to ₹759 crore. Read more
Hindustan Zinc shares drop over 4.5% as Vedanta to sell 2.6% stake
Shares of Vedanta and its subsidiary Hindustan Zinc (HZL) were on investors’ radar on Wednesday, August 14, as the mining giant announced on Tuesday that it will sell a 2.6% stake in HZL through an offer for sale (OFS). At 11:33 AM, HZL shares were trading 4.58% lower at ₹553.95 on the BSE while Vedanta was trading nearly 2% lower at ₹414.95. Read more