- The stock market today is experiencing significant volatility due to rising US treasury yields and soaring crude oil prices amidst tensions in the Middle East.
- Despite the overall market downturn, certain stocks are attracting strong bullish interest, notably East West Holdings.
- East West Holdings shares opened with an upside gap and reached an intraday high of ₹6.44 apiece on BSE, marking a significant 10 percent increase from the previous day’s close of ₹5.86 per share.
East West Holdings shares defy market crash with a 10% surge, driven by impressive Q4 results and bullish investor interest.
East West Holdings Q4 Results 2024
In Q4FY24, East West Holdings reported a total audited revenue of ₹73.54 crore, reflecting a 43 percent year-over-year increase. The company’s net profit for FY24 stood at ₹5.67 crore, a substantial rise from ₹1.50 crore in the previous financial year, translating to a remarkable 280 percent increase. The Q4FY24 audited net profit was ₹6.15 crore, a staggering rise from ₹1.65 lakh in Q4FY23, representing a year-over-year increase of over 37,000 percent.
Market Reaction and Investor Sentiment
Despite the broader market weakness, East West Holdings’ impressive financial performance has caught the attention of investors. The stock’s significant price movement indicates strong bullish sentiment, driven by the company’s robust earnings growth. Analysts believe that the company’s ability to deliver such strong results amidst challenging market conditions underscores its financial resilience and growth potential.
Conclusion
East West Holdings has demonstrated remarkable financial strength with its impressive Q4 results, defying the broader market downturn. The substantial increase in revenue and net profit highlights the company’s growth trajectory and potential for future success. Investors are advised to keep a close watch on this stock, as its performance amidst market volatility could offer valuable insights into its long-term prospects.
