Market Reacts To Q3 2023 Results: Bajaj Auto Soars, Wipro Stumbles, And IndusInd Bank Shines
Market Reacts to Q3 2023 Results: Bajaj Auto soars, Wipro stumbles, and IndusInd Bank shines.
Explore the impact of the latest quarterly results on the stock market. Bajaj Auto’s shares surged after a significant increase in net profit, while Wipro faced a decline due to results falling short of expectations.
IndusInd Bank, on the other hand, reported a substantial increase in net profit. Impact of quarterly results started visible in the market, Bajaj Auto’s shares rose while Wipro’s stock slipped.
Recently, many companies have announced their quarterly results for July-September 2023.
In this announcement, the company told what is their net profit and what was the company’s revenue in this quarter?
Yesterday, there were fluctuations in the shares of many companies including Wipro, Bajaj Auto.
Market Reacts to Q3 2023 Results: Wipro Shares.
Shares of IT services company Wipro are trading with a decline of more than 4 percent today.
The quarterly results released by the company were not as per the expectations, due to which the company’s shares are trading in the red today.
Today the stock fell 4.24 per cent to Rs 390.10 per share on BSE and 4.25 per cent to Rs 390.10 per share on NSE. Wipro reported stable consolidated profit at around Rs 2,667.3 crore in the September quarter.
At the same time, the company’s revenue is estimated to decline by 3.5 percent in the current quarter. The company had earned after tax profit of Rs 2,649.1 crore a year ago.
Bajaj Auto shares.
Shares of Bajaj Auto today jumped 5 per cent to 52-week high after its September quarter consolidated net profit rose 17.51 per cent.
The company’s stock rose 4.85 per cent to hit a 52-week high of Rs 5,393.30 on the BSE.
Bajaj Auto announced its quarterly results on Wednesday. The company’s consolidated net profit this quarter increased by 17.51 percent to Rs 2,020 crore.
The Pune-based company had reported a consolidated profit of Rs 1,719 crore in the year-ago period.
Shares of Indusind Bank.
IndusInd Bank shares rose nearly 3 percent in today’s Thursday session after the company reported a 22 percent increase in net profit for the September quarter.
The company’s shares jumped 2.68 per cent to Rs 1,459.75 on BSE today. At the same time, on NSE it rose 2.74 percent to Rs 1,459.30.
IndusInd Bank on Wednesday said that its net profit in the September quarter stood at Rs 2,202 crore, an increase of 22 percent.
At the same time, the net profit of the bank in the year-ago period was Rs 1,805 crore.
