Shares of logistics firm Gati Limited are down sharply on weak results. The stock declined to Rs 124.25 this morning, with investors pressing sales at the counter after the company reported a 40.2% drop in consolidated net profit at Rs 9.29 crore in the fourth quarter ended March 2017, compared to year-ago quarter. Net sales were down 3.4% in the quarter, the company said.
At Rs 127.40, Gati is now down 3.3% from its previous closing price. On the National Stock Exchange, the counter has clocked a volume of around 3.5 lakh shares so far in the session.
Den Networks plunged more than 15% this morning on disappointing results. The company reported consolidated net loss of Rs 60.55 crore for the quarter ended March 2017, as compared to net loss of Rs 210.30 crore in the year-ago quarter. Althogh the loss narrowed the January - March 2017 quarter, the stock is seeing a sell-off this morning.
At Rs 89.40, around Rs 7 off the day's low of Rs 82.35, the stock is down as much as 8.2% at present.
Sharda Cropchem Limited shares are also down sharply on weak results. The agrochemicals company said it postd consolidated net profit of Rs 98.68 crore in the quarter ended March 2017, down 1.6% from year-ago quarter. Total imcome increased 11.62% to Rs 596.47 crore in the fourth quarter.
The stock tanked to a low of Rs 499 this morning and is currently hovering around Rs 505, down more than 7% from its previous close.
Meanwhile, the key stock indices Sensex and the Nifty50 continue to languish in negative territory due to sustained selling at several front line counters from across various sectors, amid concerns over the terror attack in London and on uncertainty about tax reforms in the U.S., where President Donald Trump is facing increased criticism about the way things were handled in the Russia probe.
The Sensex is down 191.33 points or 0.63% at 30,379.64, while the Nifty50 of the National Stock Exchange is down 55.80 points or 0.59% at 9382.45.
