Quarterly results push Bharat Bijlee down and move Kiri Industries up
DSIJ Intelligence / 28 Aug 2017
In the wake of reporting weak quarterly results, the shares of Bharat Bijlee climbed down by over 9% intraday during Monday’s trading session.
In the wake of reporting weak quarterly results, the shares of Bharat Bijlee climbed down by over 9% intraday during Monday’s trading session. The company reported a net loss of Rs 3.87 crore in Q1FY18 against a net loss of Rs 2.15 crore in the first quarter of the last year on Thursday.
The stock was trading down by 9.51% at Rs 1,097 per share on the BSE at 1137 hours. It opened at Rs 1,111 per share. The stock witnessed a spurt in volume by more than 4.80 times and attracted a total traded volume of 1,10,009 shares and traded value of Rs 1,222.72 lakh on the NSE at 1138 hours.
On the other hand, Kiri Industries was trading higher by nearly 4% intraday due to good quarterly results. The company’s consolidated net profit rose 26.9% to Rs 103.68 crore on 6.8% decrease in net sales to Rs 272.64 crore in Q1FY18 over Q1FY17. The company announced its quarterly results on Friday.
The stock was trading up by 3.49% at Rs 304 per share on the BSE at 1141 hours. It opened at Rs 302 per share and witnessed an increase in volume by more than 1.80 times on Monday. The stock attracted a total traded volume of 3,11,889 shares and traded value of Rs 961.62 lakhs on the NSE at 1143 hours.
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