HMA Agro shares hit 10% upper circuit after strong Q2 results

Shares of HMA Agro hit the 10 upper circuit on Tuesday after the company reported strong results for the quarter that ended September 2024. The counter opened at Rs 45.10 on the BSE against the previous close of Rs 41.15. The scrip surged further to touch the high of Rs 45.26 - a gain of 9.99 per cent from last trading price.

Last seen, the counter was trading at Rs 44.81 on the BSE. The stock of the company, which has a market cap of Rs 2,243.95 crore, has a 52-week high of Rs 84 and a 52-week high of Rs 39.16.

HMA Agro Quarterly Results

The company has announced its financial results for the September quarter of FY25. According to an exchange filing, the company has posted a 105.70 per cent growth in its consolidated revenue. It surged from Rs 712.6 crore in Q1 FY25 to Rs 1,465.86 crore in Q2 FY25. 

In the first half of fiscal 2024-25 (H1 FY25), revenue increased by 0.32 per cent to Rs 2,178.475 crore from Rs 2,171.4 crore in H1 FY24.

Also, HMA Agro's net profit grew by 7229.36 per cent. It was Rs 0.73 crore in Q1 FY25 and surged to Rs 53.43 crore in Q2 FY25.

Meanwhile, equity benchmark indices Sensex and Nifty climbed in early trade on Tuesday helped by value buying at lower levels along with sustained investment by domestic institutional investors and a rally in the US markets.

The BSE benchmark Sensex climbed 324.83 points to 79,820.98 in early trade. The NSE Nifty went up by 100.7 points to 24,242.

From the 30-share Sensex pack, Bharti Airtel, ICICI Bank, Sun Pharma, Axis Bank, Tata Steel, Titan, Reliance Industries and Power Grid were the biggest gainers.
Maruti, HDFC Bank, Asian Paints and IndusInd Bank were among the major laggards.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,306.88 crore on Monday, while Domestic Institutional Investors (DIIs) bought Rs 2,026.63 crore shares, according to exchange data.