JSW Steel, ICICI Bank, NTPC, IndiGo, Yes Bank Shares React Post Q3 Results
Macrotech Developers Ltd. reported an 87.6% rise in net profit to Rs 944 crore. The shares of the real estate company were trading over 2% higher on Monday.
The stocks of JSW Steel Ltd., ICICI Bank Ltd., NTPC Ltd., InterGlobe Aviation Ltd. and Yes Bank Ltd. were in focus on Monday after the companies announced their third-quarter results.
JSW Steel opened in the negative after reporting a 70.3% fall in profit to Rs 717 crore. Investec maintained a 'Buy' rating with a target price of Rs 1,100. It said that the company was well placed on mining profitability.
ICICI Bank, on the other hand, rose nearly a percent to open in the green after it reported nearly a 15% jump in the net profit to Rs 11,792 crore on the back of a rise in the net interest income and stable asset quality. Yes Bank shares also rose on Monday after the lender reported a twofold rise in the net profit due to a fall in provisions.
While NTPC Green Energy Ltd. reported a rise in profit, NTPC reported a slight decline in profit in the third quarter. However, both the stocks were trading lower on Monday.
Macrotech Developers Ltd. reported an 87.6% rise in net profit to Rs 944 crore. The shares of the real estate company were trading over 2% higher on Monday as the company achieved a 73.25% pre-sales guidance of Rs 17,500 crore.
Torrent Pharmaceuticals Ltd.'s shares were in the green on the back of 14% rise in net profit to Rs 503 crore in the third quarter of this fiscal. In contrast, the shares of Shakti Pumps hit the lower circuit despite a twofold increase in profit at Rs 104 crore.
IndiGo shares rose over 1% despite a fall in profit for the quarter ended December due to higher number of grounded planes. Godrej Consumer Products Ltd. also fell nearly 2% as the fast-moving consumer goods company's consolidated net profit fell 14.2% to Rs 498 crore.
The shares of Balkrishna Industries Ltd. and DAM Capital Ltd. rose nearly 2% and 8%, respectively, after the companies reported a surge in profit. Transport Corp., Supriya Life Sciences Ltd., Bank of India, DCB Bank, DLF Ltd., and RPG Life Sciences were all in the green amid strong third-quarter results.
The shares of JK Cement Ltd., Trident Ltd. and Gujarat Ambuja Exports Ltd, were trading in the red on Monday. Go Fashion Ltd., CDSL, Ugro Capital Ltd., SBFC Finance Ltd., Creditaccess Grameen Ltd., Intellect Design Ltd., Sharda Cropchem Ltd., Alkyl Amines Ltd., EMS Ltd. and Sagar Cements were also trading lower.
