The Domestic indices opened in red on Wednesday on weak global cues. The Nifty 50 fell 45.45 points or 0.25% to start at 18,072.85 levels while the BSE Sensex dropped 102.68 points or 0.17% to trade at the 60,876.07 level.
Despite weak market conditions, here are 3 stocks that gained more than 6 percent on strong Q2 results:
Bliss GVS Pharma Limited
The shares of Bliss GVS Pharma gained as much as 10 percent in the early hours and were trading at Rs 78 levels on Wednesday. The pharma stock gained after the company posted a positive turnaround in its quarterly profits.
In Q3FY23, the company reported a consolidated total revenue of Rs 211.36 Crore which declined 56 percent from Rs 222.29 Crore in the same quarter a year ago. On the positive side, the company turned around its earnings after it posted a net profit of Rs 29.78 Crore in the period compared to a loss of Rs 48.53 Crores.
Bliss GVS Pharma Limited is an Indian pharmaceutical company that stands among the world leaders in Suppositories and Pessaries dosage forms with one of the largest portfolios in this segment. It has a market capitalization of Rs 808 Crore.
Sharda Cropchem Limited
Sharda Cropchem reported a 15 percent growth in its total revenue which stood at Rs 1020.04 Crore up from Rs 886.71 Crore in the same period last year. Their net profits jumped 6 percent to Rs 108.40 compared to Rs 102.20 in Q3FY22.
The growth reflected on the shares as they scaled up by 8 percent and were trading at Rs 526 levels. In the past month, the stock has zoomed by 18 percent.
Sharda Cropchem primarily exports agrochemicals (technical grade and formulations) and non-agro products to various countries around the world, including conveyor belts, rubber belts/sheets, dyes, and dye intermediates. It has a market capitalization of Rs 4,746 Crore.
Home First Finance Company India Limited
The net profit of Home First Finance Company rose 27.86% to Rs 58.74 crore in the quarter that ended December 2022 as against Rs 45.94 crore in the year-ago period. Their revenue zoomed by 35.32 percent to Rs 204.96 crore up from Rs 151.46 crore.
The shares of the company zoomed by more than 6 percent to trade at Rs 801 levels on Wednesday. In a month, the stock has gained approximately 14 percent.
Home First Finance Company India Limited is an Indian housing finance company in the affordable housing segment which provides home loans, loans against property, and home construction loans. It has a market capitalization of Rs 7,024 Crore.
Written by Anoushka Roy
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