Several stocks were buzzing on Tuesday, with significant movements observed in their share prices. Power Grid Corp., Thomas Cook, Premier Energies, Castrol India, Garden Reach Shipbuilders & Engineers, and Divi's Laboratories are among the top stocks in focus. Here's a closer look at the latest developments and how these companies are performing in the market.
Power Grid ⬇️
The share price of Power Grid Corporation of India Ltd. fell over 4% on Tuesday, hitting a nine-month low after the company reported a decline in its third-quarter profit. The state-run power transmission major posted a profit of Rs 3,861.6 crore, down from Rs 4,028.5 crore in the same period last year, missing the Bloomberg estimate of Rs 4,031 crore.
Thomas Cook ⬇️
Shares of Thomas Cook Ltd. dropped as much as 12% on Feb. 4, following a nearly 40% decline in profit during the third quarter. The company reported a Rs 32-crore decrease in its bottom line, leading to a market capitalisation loss of up to Rs 1,000 crore on an intraday basis.
Premier Energies ⬆️
Premier Energies Ltd.'s share price surged by as much as 9.30% after the company posted a significant rise in its third-quarter profit. The solar module maker's consolidated net profit rose 5.9 times to Rs 255 crore in the October-December 2024 quarter, compared to Rs 43 crore in the same period a year ago.
Castrol India⬆️
Castrol India Ltd.'s share price jumped over 9% as the company reported a rise in net profit for the fourth quarter. Its consolidated net profit increased by 12.2% year-on-year to Rs 271 crore, up from Rs 242 crore, surpassing the Rs 223-crore estimate by analysts in a Bloomberg survey.
Garden Reach ⬆️
Garden Reach Shipbuilders & Engineers Ltd. saw its stock rise nearly 4% following the release of its third-quarter earnings report. The shipbuilding company reported an 11% year-on-year increase in net profit to Rs 98.2 crore, up from Rs 88.3 crore in the same period last year, although it fell short of the Rs 115-crore consensus estimate by analysts.
Divi's Laboratories ⬆️
Shares of Divi's Laboratories Ltd. soared nearly 6% after the company reported better-than-expected earnings. The firm's profit after tax increased by 65% for the December quarter, driven by a better product mix and lower tax rate due to a shift to a new tax regime.
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