Tata Motors, Raymond, Voltas, Hitachi Energy Shares React Post Q3 Results

The stocks of Tata Motors Ltd., Raymond Ltd., Voltas Ltd. and Hitachi Energy Ltd. saw substantial movement early on Thursday on the back of their third quarter results announced a day before.

Tata Motors shares opened with a hefty loss after reporting a 22% fall in profit to Rs 5,451 crore. This compares to Bloomberg estimates of Rs 6,435 crore. In addition, Morgan Stanley and Goldman Sachs has cut its target price.

Raymond on the other hand rose nearly 4% after reporting a 61% fall in net profit to Rs 72.3 crore. Revenue for the apparel-maker rose over 40.6% to Rs 954 crore during the period.

Voltas shares fell nearly 9.63% after the company reported a profit of Rs 132.13 crore, from the loss of Rs 30.41 reported in the same quarter last year. However, it was below analyst expectation of Rs 158 crore.

Hitachi Energy also saw a near six-fold jump in net profit to Rs 137 crore. The significant topline growth boosted the shares to gain nearly 17%.

Brigade Enterprise Ltd.'s shares opened in the green after it posted a three-fold increase in profit at Rs 26 crore in the third quarter of this fiscal. The shares of Allied Blenders and Distilleries Ltd. were also trading higher after it reported a net profit of Rs 57.5 crore in comparison to a loss of Rs 4.4 crore reported in the previous year.

In contrast the shares of Restaurant Brands Asia Ltd. fell as its loss widens to Rs 50.39 crore. However, it was below the Bloomberg's estimate of a loss of Rs 52.3 crore.

Chalet Hotels Ltd. and Jindal Stainless Ltd. shares fell after they posted a dip in profit in the December quarter, while Choice International Ltd. rose after reporting a profit of Rs 30.7 crore. Blues Star Ltd. was also in the green after it reported a 32.1% surge in net profit for quarter ended December.

Blue Dart Ltd. reported an 8.86% fall in net profit, however, was above the analyst expectations. The shares were trading 1.67% higher on Thursday.

The shares of eClerx Services Ltd. Fino Payments Ltd. and JK Paper Ltd. were also trading in the red on Thursday. ASK Automotive Ltd., Samhi Hotels Ltd. and Tamilnad Merchantile Bank were also down after reporting their results.

Arvind Smartspace Ltd., Bansal Wire Ltd., Gabriel Ltd., Olectra Greentech Ltd., Vaibhav Global Ltd. Quess Corp Ltd., SRF Ltd., were trading in the green after announcing their third quarter results.