Mahindra CIE Automotive slips over 8% post December quarter results
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Shares of Mahindra CIE Automotive, the automotive components supplier, declined 8.5 per cent to Rs 129 apiece on the BSE on Thursday after the company reported 91 per cent year-on-year (YoY) fall in its consolidated net profit at Rs 12.6 crore for the quarter ended December 31, 2019 (Q3FY19). The company had posted profit of Rs 142 crore in the year-ago period.
Profit before tax (PBT) for the quarter under review stood at Rs 121.5 crore, down 33 per cent against Rs 182 crore logged in the corresponding quarter of the previous fiscal.
Total consolidated revenue slipped 13 per cent to Rs 1,729 crore YoY.
Basic earnings per share (EPS) stood at Rs 0.33 against Rs 3.75 in the year-ago quarter.
At 10:06 am, the stock was trading nearly 6.5 per cent lower at Rs 132 on the BSE. In comparison, the benchmark S&P BSE Sensex was trading 359 points or around a per cent down at Rs 39,529.54 levels.
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Shares of Housing & Urban Development Corporation (HUDCO) hit a record high of Rs 234.30, zooming 15 per cent on the National Stock Exchange (NSE) in Friday's intra-day trade amid heavy volumes on expectations of good growth going forward. Last week, the Department of Public Enterprises (OPE) granted the Navratna Status to HUDCO.
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Shares of GMR Airports Infrastructure shot up 8.2 per cent at Rs 92.34 a piece on Friday’s intraday trade. A combined 3.07 million shares of the company changed hands on the BSE. In comparison the S&B BSE Sensex fell by 0.31 per cent 74,109 levels.
The stock of GMR Airports reached a 52-week high of Rs 94.30 on February 20, 2024, while it hit a 52-week low at Rs 40 on May 29, 2023.
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