By Malvika Gurung
Investing.com -- AXIS Bank (NS: AXBK )
Shares of the private lender surged 5.6% to Rs 744.2 apiece at 11:30 am on Tuesday, after posting a whopping 224% rally in its standalone net profit to Rs 3,614 crore YoY in Q3, exceeding the Street’s estimates, with NII rising 17% YoY to Rs 8,653 crore.
Various brokerages have maintained Buy and Outperform calls on the banking stock, with CLSA setting a target price of Rs 1,080/share, an upside of 45% compared to its present value.
IndiaMART InterMESH (BO: INMR )
Shares of the e-commerce company tanked 9.7% to Rs 5,275 apiece in the morning session on Tuesday, after it posted a 12.4% fall in consolidated net profit to Rs 70.2 crore YoY, in the December-ending quarter, while its revenue surged 8.3% to Rs 188.1 crore YoY.
In a separate filing, the company reported its plans to invest Rs 7.5 crore in Legistify through its subsidiary Tradezeal.
Ramco Cements (NS: TRCE )
Shares of the cement maker tumbled 6.3% to Rs 840.6 apiece at 11:20 am on Tuesday, after tanking almost 8% earlier in the session, following earnings results.
Its standalone profit declined 59% to Rs 83 crore YoY due to a fall in demand in Q3, while sales improved 16% to Rs 1,541 crore. Despite a growth witnessed in product sales, the company’s bottom line was affected by increased operating costs, like rising fuel costs.
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Safe investment strategy to be investing in Banking Stocks.Like 0