Shares of select companies including Ircon International, Gensol Engineering, Birlasoft, Shree Renuka Sugars and Kirloskar Oil Engines cracked up to 17 per cent during the trading session on Wednesday on the back of various news related to them. Majority of them announced their quarterly earnings on Tuesday, post market hours.
Shares of Gensol Engineering Ltd led the losers as the solar-focused EPC player crashed 16.75 per cent to Rs 585.80 on Wednesday, commanding a total market capitalization slipping below Rs 2,250 crore. The stock has plunged nearly 58 per cent from its 52-week high at Rs 1,377.10.
Gensol Engineering reported a 6 per cent YoY rise in its profit after tax to Rs 18 crore in the December 2024 quarter, on account of increased revenue. Its total revenue increased 30 per cent to Rs 345 crore. Its Ebitda stood at Rs 63 crore for the quarter. It bagged a major EPC contract from a well-known PSU for the development of a 275 MW Solar PV Project at RE Solar Park, Gujarat.
Shares of Shree Renuka Sugars Ltd plunged nearly 12 per cent to Rs 30.51 during the day, hitting its new 52-week lows, with its total marketcap barely holding to Rs 6,500 crore mark. The stock had settled at Rs 34.56 levels on Tuesday. The stock has tanked more than 45 per cent from its 52-week high at Rs 56.48.
Shares of IRCON International Ltd crashed nearly 10 per cent to Rs 161.80 during the day, with a total mcap barely holding to Rs 15,000 crore. The stock had settled at Rs 179.75 in the previous trading session. The railway counter has tumbled nearly 55 per cent from its 52-week high at Rs 351.65.
Ircon International, reported a 65 per cent YoY drop in its net profit at Rs 86 crore in the third quarter. The navratna public sector enterprise and a leading turnkey construction company in the public sector reported a 11 per cent YoY to Rs 2,613 crore. The company's Ebitda crashed down to Rs 218.3 crore for the quarter and announced an interim dividend of Rs 1.65 apiece.
Kirloskar Oil Engines also tumbled about 12 per cent to Rs 691.05 on Wednesday, with a total mcap slipping below Rs 10,500 crore. The stock is down more than 52 per cent from its 52-week highs at Rs 1,450.
Kirloskar Oil Engines reported a 17 per cent YoY fall in the net profit at Rs 65 crore in Q3FY25, while net sale inched up 3 per cent YoY to Rs 1,154 crore. The compressor and engines player's ebitda dropped 9 per cent YoY to Rs 117 crore with margins contracting to 10.1 per cent. It also announced an interim dividend of Rs 2.5 apiece
On the back of muted Q3 earnings, shares of Birlasoft Ltd and Bayer Cropsciences Ltd tumbled 7 per cent each to Rs 472.40 and Rs 4,400 for the day. Prince Pipes, Time Technoplast and KFin Technologies tumbled about 10 per cent each for the day.