Asset quality has dropped. NPLs have increased.
Share price movements are driven mostly by expectations, that is changes wont depend not only on present results but mostly on expectations of future results
Prices are driven by guidance provided by management on the future results of company. It has nothing to do with present results as those are ideally discounted in stock prices unless the results have beaten the expectations by big margin.
Thank you for reply
Thank you for reply. That helps. I also saw this kind of behavior for HCL TECH whose stock rose on 19th oct 2015 even after the HCL TECH declared loss in quarterly results.