TORNTPOWER Extends Losing Streak After Weak Q4 Earnings

Shares of

continued to slide for the fourth straight trading session after the company’s disappointing Q4 earnings announcement. The stock plunged over 8.5% yesterday, taking the cumulative decline to nearly 16% in just four sessions. The sharp fall was largely driven by higher tax expenses of Rs 215.87 crore, compared to a significant tax write-back of Rs 457.87 crore reported in the same quarter last year. Weak earnings sentiment kept investors cautious, with the stock now trading over 12% below its 52-week high. Market participants are expected to closely monitor price action and investor sentiment in the coming sessions following the weak quarterly performance. Disclaimer: Investments in securities are subject to market risk. This is for educational purposes only. Investors must verify information before investing and consider their financial position & risk profile.