{"id":106843,"date":"2023-08-11T13:29:04","date_gmt":"2023-08-11T07:59:04","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=106843"},"modified":"2023-08-11T13:29:06","modified_gmt":"2023-08-11T07:59:06","slug":"stock-jumps-up-to-19-after-company-reports-a-190-increase-in-net-profits","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/stock-jumps-up-to-19-after-company-reports-a-190-increase-in-net-profits\/","title":{"rendered":"Stock jumps up to 19% after company reports a 190% increase in net profits\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1997379220\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of a mining company notched nearly a 19 percent increase in its share price to reach a fresh 52-week high of \u20b9 219.65 apiece on the National Stock Exchange (NSE). This happened after the company reported stellar results for the April to June quarter of the financial year 2023-24.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4213884361\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>According to an exchange filing, <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/ASHAPURMIN\/consolidated\">Ashapura Minechem<\/a><\/strong> reported a 190 percent increase in its net profit at \u20b9 101.97 crores for the April to June quarter (Q1FY24), compared to \u20b9 35.16 crores in the corresponding quarter of the previous year (Q1FY23). Its revenue stood at \u20b9 1017.96 crores in Q1FY24, up 153.33 percent compared to \u20b9 401.83 crores in Q1FY23.\u00a0<\/p><p>Most business verticals of the company, including the bauxite export business from Guinea have largely performed well, resulting in higher revenues and profits for the company on a consolidated basis. Guinea is strengthening its position in the global bauxite export market on account of increasing demand for Aluminium and the reduction of bauxite exports from Southeast Asia.&nbsp;<\/p><p>The mining company added that it is expecting similar performance for the rest of the year, except for the July to September quarter(Q2FY24) of the current financial year, due to the rainy season in India and Guinea. Moreover, it is planning to open two new bauxite mining&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1046670503\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>blocks soon after the rainy season to increase bauxite export volumes from Guinea to cater to the growing bauxite demand.&nbsp;<\/p><p>Ashapura Minechem is engaged in the mining, manufacturing and trading of various minerals and its derivative products. The company offers multi-mineral solutions across several industries from soaps to steel, energy to edible oils, metal to medicine and cement to ceramics. It has a network of operations pan-India and in 7 other countries.&nbsp;<\/p><p>With a market capitalization of \u20b9 1,694 crores, Ashapura Minechem is a small-cap company. It has an ideal return on equity of 19.73 percent and an ideal debt-to-equity ratio of 1.14. Its shares were trading at a price-to-earnings ratio (P\/E) of 14.99, which is lower than the industry P\/E of 16.55, indicating that the stock might be undervalued as compared to its peers.&nbsp;<\/p><p>The company\u2019s promoters hold a 45.33 percent stake in it followed by retail investors with 37.44 percent, foreign institutions with 17.09 percent, mutual funds with 0.13 percent and other domestic institutions with 0.01 percent.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" style=\"object-fit:cover;width:256px;height:256px\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-928932823\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of a mining company notched nearly a 19 percent increase in its share price to reach a fresh 52-week high of \u20b9 219.65 apiece on the National Stock Exchange (NSE). This happened after the company reported stellar results for the April to June quarter of the financial year 2023-24.&nbsp; According to an exchange filing, [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":82840,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[10820,10819,948,936,10821],"class_list":["post-106843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-ashapura-minechem-latest-news","tag-ashapura-minechem-share-price","tag-stock-market","tag-stock-market-news","tag-why-is-ashapura-minechem-share-going-up"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stock jumps up to 19% after company reports a 190% increase in net profits\u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Shares of a mining company notched nearly a 19 percent increase in its share price to reach a fresh 52-week high of \u20b9 219.65 apiece on the National Stock Exchange (NSE). 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