The Indian Stock Market, which has grown from 11,000 to 12,000 in just 19 days, has had positive reaffirmation. The results of 116 early bird companies have been announced and have shown a healthy trend in sectors as diverse as IT, cement, construction, automobile and private sector banks.
Phanisekhar, analyst, Angel Broking, said, “The year has been good for the frontline IT companies. However, mid-cap IT companies are expected to deliver a mixed bag of results. The demand has been picking up in the US, while Europe continues to open-up providing exciting opportunities for the Indian IT industries.”
The net profit has grown by a mammoth 48.7% and the operating profit has grown by 46.28%. The gross profit has grown by 19.6% and the profit before tax has risen by 53.7%. Out of the many companies which showed profits, Surana Metals & Steels has recording the maximum increase, which is of 494.92% in profit after Tax.
Tagged Stock, Profit, India