MindTree (22% up)
MindTree stock surged 22% after the company came out with an aggressive guidance for FY10. The company expects revenues of $290-300 million and profit after tax of $37.7-39 million. The company told CNBC-TV 18 that it is seeing the first signs of a revival in client base.
KPIT Cummins (10% up)
Shares of KPIT Cummins surged 10% on the National Stock Exchange on Tuesday after the company told CNBC-TV18 that its FY10 profit should be higher than FY09 despite clients asking for price cuts. The firm reported a net profit of Rs19.31 crore for the fourth quarter.
Aban Offshore (11% down)
Aban Offshore plunged 11%, extending losses from Monday’s trade after announcing a fourth quarter (Q4) loss. Brokerage house Citi has recommended ‘sell’ on the company’s stock after the firm reported Q4 losses of Rs93 crore versus expectations of a Rs180 crore profit.
AztecSoft (18% up)
AztecSoft stock rallied 18% in line with the 22% gains seen in MindTree. Shares of Bangalore-based Mindtree soared after the company forecast flat revenue and higher profit in FY10 as it sees a recovery in the second half. AztecSoft is a subsidiary company of MindTree.
Central Bank of India (6% down)
Central Bank of India stock lost 6% in line with weakness in banking stocks. The bank also reported a degrowth in profit, with fourth quarter profit falling to Rs62 crore from Rs127 crore. The bank managed to cut its non-performing assets (NPAs) to 1.2% vs 3.2%, but this is still higher than its peers.
Aditya Birla (11% down)
Aditya Birla Nuvo stock fell 11% after reporting a consolidated net loss of Rs141 crore compared with a loss of Rs22 crore in the corresponding period a year ago. The company reported losses in most of its divisions, with garments and carbon black numbers dragging the most.
Reliance Ind Infra (10% down)
Shares of Reliance Industrial Infrastructure Ltd were down another 10% ahead of its expiry. It is one of the 50 stocks where no new July contracts would be introduced after expiry on Wednesday. However, the May and June contracts would continue.
Tata Elxsi (2% up)
Shares of Tata Elxsi were up 2% on the National Stock Exchange in a weak market after the company announced a 92% sequential jump in net profit to Rs23 crore compared with Rs12 crore in the year-ago period. The firm’s revenue, though, remained flat at Rs106 crore.