GG Engineering shares hit upper circuit after Q4 results 2024 despite weak stock market trends

1 week ago 6

2 min read 26 Apr 2024, 12:31 PM IST Trade Now

GG Engineering stock terms contiguous deed precocious circuit connected Friday aft the announcement of Q4 results 2024 connected Thursday evening

Despite weakness successful the frontline stocks of the Indian banal market, GG Engineering stock deed the precocious circuit during Friday deals. GG Engineering stock terms contiguous opened upside and touched a 5 percent precocious circuit wrong a infinitesimal of the stock market's opening bell. While hitting the precocious circuit connected Friday, the small-cap banal priced beneath ₹5 locked successful the precocious circuit for the 3rd consecutive session. As per the accusation disposable connected the BSE website, the penny banal nether ₹5 has been hitting the precocious circuit since Wednesday this week. Today's emergence successful GG Engineering shares tin beryllium attributed to the Q4 results 2024 that the small-cap institution announced connected Thursday evening. So, the marketplace was expected to respond to the Q4FY24 results of the engineering company.

GG Engineering Q4 results

As mentioned above, the small-cap institution declared its fourth-quarter results for FY24 connected Thursday evening. In Q4FY24, GG Engineering Ltd reported a full audited income of ₹771 crore, which stood astatine ₹303 crore successful the corresponding play successful the erstwhile fiscal year. So, the institution has logged a robust 154 percent YoY emergence successful full income successful its audited Q4 results 2024.

Comparing the audited fiscal results of the institution for FY24 with FY23, the company's full income has surged from ₹1,108 crore to ₹2,153 crore successful the past 1 year. This means GG Engineering has not conscionable done good successful the precocious ended March 2024 4th but successful the full fiscal twelvemonth 2023-24. GG Engineering's full income has grown to the tune of astir 95 percent successful the erstwhile fiscal year.

The company's nett net successful Q4FY24 grew from ₹53.7 crore to ₹54.7 crore successful YoY terms. In FY24, GG Engineering's nett net stood astatine astir ₹71 crore.

Stock marketplace today

The frontline indices of the Indian banal marketplace contiguous are nether pressure. The Nifty 50 scale was down adjacent 50 points, the BSE Sensex was down by astir 200 points portion the Bank Nifty scale was shed astir 100 points astatine 12:15 PM connected Friday. However, the wide marketplace was trading greenish arsenic the small-cap scale was up 0.65 percent portion the mid-cap scale was up 0.80 percent.

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Published: 26 Apr 2024, 12:31 PM IST