15 stocks down 20-50% in June quarter despite over 100% jump in Q4 profit!

NEW DELHI: A dozen BSE500 stocks have fallen at least 20 per cent since April 1, despite the companies delivering over 100 per cent jump in March quarter profits. The recent fall in equities globally due to concerns over growth and rising interest rates has led to many of these stocks tumble, some others have also seen price target downgrades in the earnings season gone by.

Jindal Stainless has lost half of its market value since April 1. The stock traded at Rs 98.90 on Friday compared with Rs 202.65 level on March 31, down 51.19 per cent. The company reported a 166 per cent YoY jump in net profit at Rs 728.77 crore for the quarter compared with Rs 273.84 crore in the corresponding quarter last year. The average target price on this stock has fallen to Rs 245 from Rs 255 recently, which suggests a 150 per cent potential upside on the counter.

RBL Bank reported a 117 per cent YoY rise in profit after tax at Rs 164.77 crore for March quarter compared with Rs 75.74 crore in the same quarter last year. Despite this, the scrip has fallen 33 per cent since March 31.

Gujarat Narmada Valley Fertilizers and Chemicals reported PAT at Rs 643.26 crore, up 108.23 per cent YoY over year-ago period's Rs 308.91 crore. JSW Energy has fallen 30 per cent YoY despite reporting a multifold jump in PAT at Rs 876.49 crore against Rs 99.18 crore in the year-ago quarter.

Shares of Trident, Chemplast Sanmar and Anupam Rasayan India have tanked 25-30 per cent in the ongoing quarter even as the companies reported 105-136 per cent year-on-year surge in net profit for the March quarter. Among these companies,

The list is long.
Gujarat Alkalies And Chemicals, Angel One, IRCTC, IDFC First Bank, RHI Magnesita India and BASF India reported up to 168 per cent YoY surge in March quarter profits. Yet the scrip fell anywhere between 20 per cent and 23 per cent.

Firstsource Solutions was a similar example, which saw its shares falling 20 per cent since March 31 even as the company reported an 183 per cent YoY surge in the March quarter.


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