Small Cap Tata Stock Jumps 12% To 52-Week High As Profits Soar 40% In Q3
Shares of TajGVK that were already upbeat received a further boost on Monday as the company posted its earnings for the quarter ended December.
What Happened: The hospitality company’s net profit for the October-December period came in at ₹24.21 crore, up around 40% from the ₹17.32 crore profit booked in the same period in the previous year.
The company’s consolidated revenue surged up around 6% to ₹111.13 crore, compared to the ₹105.41 crore revenue posted in the same quarter last year.
TajGVK Hotels & Resorts is a joint venture between Indian Hotels (NS:IHTL) Co Ltd, a Tata Group company, and the Hyderabad-based GVK Group. Operating in the hospitality and tourism industry, it currently has establishments in Hyderabad, Chandigarh, and Chennai.
Shares of the company have been upbeat since Indian Hotels posted its results for the December quarter. In the last five session, the stock has surged up over 22%. Shares of the company surged up close to 12% to hit a new 52-week high of ₹320.50 after the results came out.
Price Action: Shares of TajGVK were up 9.66% to trade at ₹313.95 on Monday afternoon.
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Read the original article on Benzinga
The article you’re referencing discusses a small-cap Tata stock surging 12% to a 52-week high after its profits soared 40% in Q3 [1, 2, 3]. This is a positive sign for the company and its investors.
Here’s a breakdown of the key points:
- Company:Â The exact company isn’t mentioned in the information you shared, but it refers to a small-cap stock within the Tata Group.
- Stock Price Increase:Â The stock price jumped 12%, reaching a new 52-week high. This indicates strong investor confidence in the company’s future prospects.
- Profit Increase:Â The company’s profits rose by 40% in the third quarter (Q3) compared to the same period last year. This significant profit growth suggests strong operational performance and likely fueled the stock price increase.
Possible Identity of the Company:
While the article doesn’t reveal the specific company, based on recent news reports, there’s a possibility it could be:
- TajGVK Hotels & Resorts:Â This small-cap Tata Group company that operates hotels witnessed a surge in its stock price and a 40% profit increase in Q3 2023 [2].
Finding the Specific Company:
If you’re curious about the exact company’s identity, you can try the following:
- Search for the full article:Â Look for the original article titled “Small Cap Tata Stock Jumps 12% To 52-Week High As Profits Soar 40% In Q3” by Benzinga India [2]. This might provide more details about the company.
- News Websites:Â Search financial news websites like Economic Times India or Moneycontrol for articles dated around the time the event happened (likely early 2024) mentioning a small-cap Tata stock with a significant Q3 profit increase.
Overall, this news indicates a positive development for a small-cap Tata company. The company’s strong financial performance has boosted investor confidence and driven up its stock price.