Tata Elxsi, Glenmark Life Sciences, ICICI Securities— How stocks fared post march quarter results?

Tata Elxsi, Glenmark Life Sciences, ICICI Securities came up with their March quarter results on Wednesday. Based on their performance in the quarter ended March 31,2022, Shares of the respective companies reacted sharply on Thursday as they declined up to 7% and gained more than 3% in today's intraday trade on the BSE.  

Tata Elxsi 

The design and technology services provider Tata Elxsi on Wednesday reported a 6% QoQ rise in the profits at Rs 160 crore for the quarter ended March 31, 2022 against a profit of Rs 151 crore in the previous quarter ended December 31, 2022. Reacting positively to gain in quarterly performance, shares of Tata Elxsi gained nearly 5% to trade at Rs 8190.95 per share on the BSE.  

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Glenmark Life Sciences 

The pharmaceutical company, which reported a 5.5% YoY decline in the profits at Rs 98.9 crore for the quarter ended March 31, 2022, declined half per cent to trade at day's low value of Rs 484.45 per share on the BSE. Glenmark Life Sciences had posted a profit of Rs 104.7 crore in the corresponding quarter of the previous financial year. 

ICICI Securities 

Shares of this brokerage firm dropped more than 7% to trade at day's low of Rs 580.35 per share on the BSE despite it reported a 3.3% YoY growth in consolidated profit at Rs 340.3 crore for the quarter ended March 31, 2022. It had posted a profit of Rs 329.5 crore in the corresponding quarter of the previous financial year. 

Meanwhile, the domestic equity market extended its gains on Thursday as benchmarks were trading higher by nearly 1% in the opening trade. The broader Nifty 50 reclaimed 17, 200 as the bluechip index was seen attempting 17,300. The Sensex was trading higher by nearly 500 points. Among sectors, except metal, which slipped in the red, all other sectoral indices comfortably sat in the green.