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Moneycontrol

Tech Mahindra gains 3% after June-quarter profit rises 31.7%; Wipro, CEAT slide on results

AI Market Summary
India's June-quarter earnings drove idiosyncratic moves: Tech Mahindra rallied on a profit beat, while Wipro slipped as IT services margins compressed. CEAT fell sharply after a steep profit drop and higher exceptional losses. Other updates included Servotech's new solar rooftop order, Piramal Finance's profit growth despite a share decline, and PC Jeweller's planned QIP fundraising. The news is stock-specific with limited cross-asset spillover.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT+1.96%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Several India-listed companies reported June-quarter results, with CEAT’s net profit down 96.4% year-on-year to ₹4 crore and exceptional loss widening to ₹7 crore. Tech Mahindra posted a 31.7% year-on-year rise in net profit, while Wipro’s IT services operating margin narrowed by 130 basis points. Servotech won an order for a 900 kW solar rooftop project, and Piramal Finance reported a 66.8% year-on-year increase in net profit. PC Jeweller said it plans to raise up to ₹1,000 crore through a QIP.
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