HUL, BPCL, Persistent Systems Shares React Post Q3 Results
Coforge Ltd.'s shares rose nearly 8% after a 6.6% rise in net profit to Rs 216 crore.
The stocks of Hindustan Unilever Ltd., Bharat Petroleum Corp. and Persistent Systems Ltd. are in focus on Thursday after the companies announced their third quarter results.
HUL opened in the negative despite reporting a 18.9% rise in profit to Rs 2,984 crore. The fall in shares come after Macquarie, UBS, Goldman Sachs and Citi cut the target price amid demand concerns.
BPCL also fell over 1% after it opened in the green. The oil marketing company reported a 93.9% jump in net profit to Rs 4,649 crore, however Jefferies cut target price to Rs 370, as Ebitda was 11% below consensus due to weaker refining and marketing performance.
Persistent Systems stocks snapped the sharp fall to rise nearly 5% after it reported strong third quarter results. In addition, Nuvama, has hiked its target price to Rs 7,000 per share, while Emkay has upgraded it to 'reduce' rating.
Coforge Ltd.'s shares rose nearly 8% after a 6.6% rise in net profit to Rs 216 crore. Cigniti Technologies Ltd. shares were also trading over 7% after reporting a 20% jump in net profit to Rs 63.6 crore.
Pidilite Industries Ltd. shares rose nearly 6% on the back of 8.2% jump in net profit to Rs 552 crore. While Goldman Sach has maintained a 'buy' rating, Macquarie has retained 'underperform' rating.
Similarly, the shares of Go Digit General Insurance Ltd.'s surged over 4% after it reported an over two-fold jump in net profit. Citi on Thursday also hiked the target price to Rs 460, while maintaining a 'buy' rating.
The shares of Laxmi Organics Ltd. and Gravitas India Ltd. rose nearly 2% and 1%, respectively, after it reported a surge in profit. The shares of Accelya Solutions India Ltd. and Zensar Technologies Ltd, were also trading in the green on Thursday.
