TD Power Systems zooms 87% in 3 weeks on strong outlook, hits 3-year high
Shares of TD Power Systems (TDPS) were locked in the upper circuit of 20 per cent at Rs 349.40, hitting a three-year high on the BSE in Thursday’s session amid expectations of strong earnings growth going forward. The stock was trading at its highest level since May 2015. It had hit a record high of Rs 479 on December 30, 2014.
The trading volumes on the counter more-than-doubled with a combined 958,054 equity shares having changed hands on the NSE and BSE so far. There were a combined pending buy orders for 206,916 shares, the exchanges data shows.
In the past three weeks, the stock has zoomed 87 per cent after the company reported robust earnings, with profit after tax (PAT) of Rs 10.40 crore for the quarter ended June 2021 (Q1FY22), against a loss of Rs 9.8 crore in the previous year quarter.
