Six Stocks In News At Noon: Vishal Mega Mart, Bajaj Finance, IndusInd Bank Among Others
Vishal Mega Mart was trading as high as 10%, while Bajaj Finance was around 6% in the red.
At noon on Wednesday, benchmark indices were around the flatline, with the Nifty 50 down 0.08% at nearly 24,320 and the Sensex slipping 0.08% to approximately 80,246.
Several stocks, including Vishal Mega Mart Ltd., Varun Beverages Ltd., and Bajaj Finance Ltd., were making headlines due to various developments.
Vishal Mega Mart
Vishal Mega Mart was trading as high as 10% at Rs 118.48 around noon. The company announced its earnings on Tuesday. Their yearly net profit increased by 88.52% at Rs 115 crore and revenue was up 23.1% at Rs 2,547 crore.
Bajaj Finance
Bajaj Finance was trading nearly 6% in the red at Rs 8,556 apiece. The company's long-term guidance for AUM growth is pegged at 25–27%, which is lower than estimated, and unchanged from the previous quarter.
Eternal
Eternal shares fell 2.17% at Rs 226.10 apiece, ahead of the declaration of their quarterly financial performance. The company reported a 57.2% year-on-year decline in its consolidated net profit to Rs 59 crore in Q3 FY25 from Rs 138 crore in Q3 FY24. Total income increased 61.3% year-on-year to Rs 5,657 crore in Q3 FY25 from Rs 3,507 crore in the same quarter of the preceding fiscal. Total expenses rose 63.55% YoY to Rs 5,533 crore in Q3 FY25 from Rs 3,383 crore in the year-ago quarter.
Varun Beverages
Varun Beverages shares have fallen 4.17% to Rs 507.10 apiece. The company announced its earnings earlier today (Wednesday) and reported a 35% year-on-year rise in net profit for the first quarter of this calendar year. The Pepsi bottler recorded a consolidated net profit of Rs 726.49 crore for the quarter ended March, compared to Rs 537.27 crore in the same quarter of the previous fiscal, according to its stock exchange notification.
IndusInd Bank
InduInd Bank shares declined 3.21% to Rs 810.05 apiece. Shares of the lender have been steadily trading in the red after Chief Executive Officer Sumant Kathpalia resigned on Tuesday.
Vedanta
The mining giant has been trading in the green with shares up 1.09% at Rs 420.85 apiece. It is set to announce its financial performance for the fourth quarter of FY25. Vedanta is expected to clock 13% year-on-year growth in consolidated revenue at Rs 39,593 crore in the fourth quarter, according to analysts' consensus estimates compiled by Bloomberg. The bottomline is likely to be Rs 3,456 crore.
