Why Tejas Networks, Hatsun Agro Products, Inox Wind & Sterling and Wilson shares rallied up to 20% today
Tejas Networks shares soared 20 per cent to hit a high of Rs 1,086.90 on BSE. Tejas Networks turned profitable in Q4. Hatsun Agro Product gained as the company reported 108.76 per cent YoY rise in profit at Rs 52.16 crore in Q4.
- Apr 23, 2024,
- Updated Apr 23, 2024 10:26 AM IST
Top BSE gainers today: A host of stocks namely Tejas Networks Ltd, Hatsun Agro Products Ltd, Inox Wind Ltd & Sterling and Wilson Renewable Energy Ltd climbed up to 16 per cent on various corporate announcements. Shares of Tejas Networks and Hatsun Agro Products and Sterling and Wilson Renewable Energy climbed on March quarter results, Inox Wind jumped on a scheduled board meet on bonus issue.
This stock also gained on March quarter results. Nuvama said while PBT beat its estimate by 126 per cent, PAT was a miss on higher tax provision for the quarter.
"PAT turnaround is likely in FY25E even at 50 per cent execution of order book (Rs 8,000 crore). Halving of module prices YoY could expedite solar installations, enhancing scope. Indicated strong bid pipeline of 30GW (Rs 45,000 crore) in FY25E (84 per cent domestic). Management guided for Rs 8,000 crore of new orders (ex-RIL and -Nigeria)/Rs 8,000–9,000 crore revenue in FY25. In all, we are raising long-term GM by 50 bps, and target price to Rs 850 (37 per cent potential upside)," Nuvama said.
This stock was trading 8.02 per cent higher at Rs 666.65.
Top BSE gainers today: A host of stocks namely Tejas Networks Ltd, Hatsun Agro Products Ltd, Inox Wind Ltd & Sterling and Wilson Renewable Energy Ltd climbed up to 16 per cent on various corporate announcements. Shares of Tejas Networks and Hatsun Agro Products and Sterling and Wilson Renewable Energy climbed on March quarter results, Inox Wind jumped on a scheduled board meet on bonus issue.
This stock also gained on March quarter results. Nuvama said while PBT beat its estimate by 126 per cent, PAT was a miss on higher tax provision for the quarter.
"PAT turnaround is likely in FY25E even at 50 per cent execution of order book (Rs 8,000 crore). Halving of module prices YoY could expedite solar installations, enhancing scope. Indicated strong bid pipeline of 30GW (Rs 45,000 crore) in FY25E (84 per cent domestic). Management guided for Rs 8,000 crore of new orders (ex-RIL and -Nigeria)/Rs 8,000–9,000 crore revenue in FY25. In all, we are raising long-term GM by 50 bps, and target price to Rs 850 (37 per cent potential upside)," Nuvama said.
This stock was trading 8.02 per cent higher at Rs 666.65.