Tech Mahindra, HPCL stocks soar after strong Q3FY19 numbers

Tech Mahindra and HPCL stocks surged in Wednesday’s morning session after posting strong Q3FY19 numbers.

Feb 06, 2019 04:02 IST India Infoline News Service

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Shares of Tech Mahindra and HPCL surged in Wednesday’s morning session after posting strong Q3FY19 numbers.

Shares of Tech Mahindra surged 6% after its PAT increased by 13% qoq to Rs1,203cr against median consensus estimates of Rs1,107cr. Revenue in dollar terms grew by 3.5% qoq to $1,261mn. The EBIT margin expanded by 75bps qoq to 16.1%.

Tech Mahindra Ltd is currently trading at Rs795.45 up by Rs45.45 or 6.06% from its previous closing of Rs750 on the BSE. The scrip opened at Rs782 and has touched a high and low of Rs798.65 and Rs774.10 respectively.

Hindustan Petroleum Corporation Ltd's (HPCL) stock gained 1% after the company’s net revenue in the quarter grew 25.4% yoy to Rs72,111.82cr against Rs57,501.84cr in Q3FY18, beating the estimates of Rs67,592cr.

Hindustan Petroleum Corporation Ltd is currently trading at Rs228.70 up by Rs3.7 or 1.64% from its previous closing of Rs225 on the BSE. The scrip opened at Rs226.50 and has touched a high and low of Rs232.25 and Rs226.50 respectively.

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