Six Stocks In News: HCLTech, Havells, Waaree Energies Among Others
The Nifty 50 was up 0.20% at 24,217, while the Sensex rose by 0.25% to 79,781 at 12:20 p.m.
Indian markets were trading in green around midday on Wednesday as several stocks jumped following the announcement of updates and fourth quarter earnings.
The Nifty 50 was up 0.20% at 24,217, while the Sensex rose by 0.25% to 79,781 at 12:20 p.m. HCLTech, Havells India Ltd., Waaree Energies Ltd., Swiggy Ltd., AU Small Finance Bank, and Coforge Ltd. were among stocks that gained around midday.
Here's a look at why.
HCLTech
HCLTech Ltd.'s share price surged by over 6.6% on Wednesday following the release of its fourth-quarter earnings report. The company's consolidated net profit fell by 6.2% sequentially to Rs 4,309 crore for the quarter ended March 31.
Despite this decline, the net profit was in line with the consensus estimate of Rs 4,376 crore from analysts tracked by Bloomberg. The IT services firm's revenue for the fourth quarter rose by 1.2% to Rs 30,246 crore, meeting market expectations.
Havells India
Havells India Ltd.'s share price dropped nearly 5% following its March quarter performance, as the earnings elicited mixed reactions from brokerages.
The company's consolidated revenue rose by 20% year-on-year to Rs 6,530 crore, with Ebitda and profit after tax growing by 19% and 16%, respectively. While most brokerages acknowledged the robust earnings growth, they diverged on the stock's valuation and potential future risks.
Waaree Energies
Waaree Energies Ltd. saw its share price surge 9.14% to a three-month high after reporting a 34% increase in its consolidated net profit for the fourth quarter of fiscal 2025.
The company posted a net profit of Rs 619 crore for the March quarter, up from Rs 461 crore in the same period last year. The company's consolidated revenue rose by 36.4% to Rs 4,004 crore from Rs 2,936 crore in the year-ago period.
Swiggy
Shares of Swiggy Ltd. fell by 1.14% after the food delivery company received its first 'sell' rating since listing in early November 2024. Analysts flagged that Swiggy has lost its early lead in both food delivery and quick commerce, slipping to second and third place in each category.
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AU Small Finance Bank
AU Small Finance Bank Ltd.'s share price rose by 7.47% as its net interest income increased by 57% year-on-year to Rs 2,094 crore in the fourth quarter of the last financial year, meeting analysts' estimates of Rs 2,067.8 crore. The bank's net profit jumped by 36% to Rs 504 crore from Rs 371 crore in the year-ago period.
Coforge
Coforge Ltd. was the second biggest gainer among IT stocks after HCLTech, with its share price rising by 6.44%. The Nifty IT index surged by 4.39% following signs of a potential cool down between Federal Reserve Chair Jerome Powell and US President Trump.
