Poonawalla Fincorp shares hit one-year high as Q3 profit jumps 76%; details here
Poonawalla Fincorp share price: The stock jumped 5.75 per cent to hit a 52-week high of Rs 519.95. The counter today saw high trading volume on BSE as around 2.57 lakh shares were seen changing hands. The figure was higher than the two-week average volume of 2.06 lakh shares.
- Jan 19, 2024,
- Updated Jan 19, 2024 10:47 AM IST
Poonawalla Fincorp Ltd shares rose sharply in Friday's trade to scale their one-year high level after posting strong set of number during the third quarter of ongoing financial year 2023-24 (Q3 FY24). The stock jumped 5.75 per cent to hit a 52-week high of Rs 519.95.
The counter today saw high trading volume on BSE as around 2.57 lakh shares were seen changing hands. The figure was higher than the two-week average volume of 2.06 lakh shares. Turnover on the counter came at Rs 13.16 crore, commanding a market capitalisation (m-cap) of Rs 38,813.70 crore.
"The company reported a solid set of numbers in Q3. The management, in its commentary, sounded optimistic about new product launches and seamless technology deployment. This largely means that a lot of cost-optimisation is happening in terms of business delivery which could get reflected in the return ratio. So, one can continue to hold on to the stock," Mayuresh Joshi, Head-Equity Research at William O'Neil India, told
Also read: Stock recommendations by analyst for Jan 19, 2024: Suzlon Energy, BHEL & Metropolis Healthcare
Poonawalla Fincorp Ltd shares rose sharply in Friday's trade to scale their one-year high level after posting strong set of number during the third quarter of ongoing financial year 2023-24 (Q3 FY24). The stock jumped 5.75 per cent to hit a 52-week high of Rs 519.95.
The counter today saw high trading volume on BSE as around 2.57 lakh shares were seen changing hands. The figure was higher than the two-week average volume of 2.06 lakh shares. Turnover on the counter came at Rs 13.16 crore, commanding a market capitalisation (m-cap) of Rs 38,813.70 crore.
"The company reported a solid set of numbers in Q3. The management, in its commentary, sounded optimistic about new product launches and seamless technology deployment. This largely means that a lot of cost-optimisation is happening in terms of business delivery which could get reflected in the return ratio. So, one can continue to hold on to the stock," Mayuresh Joshi, Head-Equity Research at William O'Neil India, told
Also read: Stock recommendations by analyst for Jan 19, 2024: Suzlon Energy, BHEL & Metropolis Healthcare