LIC, Oil India, NHPC, Paras Defence Shares React Post Q3 Results
NHPC shares were also in the red after profit in the third quarter fell 52.5% to Rs 231 crore, in comparison to Rs 487 crore reported in the December quarter last year.
Shares of Life Insurance Corporation of India Ltd., Oil India Ltd., NHPC Ltd. and Paras Defence and Space Technologies Ltd. were in focus on Monday, after the companies announced their third quarter results.
LIC opened in the green after its net profit rose 16.26% to Rs 11,009 crore. In addition, it got a mixed review from analysts, with JPMorgan hiking its target price and Citi cutting its target price.
Oil India, on the other hand, fell nearly 5% after it reported a 33.38% decline in net profit to Rs 1,221.8 crore. Its revenue also declined 5.07% to Rs 5,239 crore.
NHPC shares were also in the red after profit in the third quarter fell 52.5% to Rs 231 crore, in comparison to Rs 487 crore reported in the December quarter last year. This was lower than Bloomberg's estimate of Rs 633 crore. On the other hand, revenue rose 11.3% to Rs 2,287 crore.
The shares of Paras Defence Ltd. were also trading lower on Monday, despite its net profit more than doubling to Rs 15 crore.
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In contrast, VA Tech Wabag Ltd.'s shares rose over 13% on Monday, after its profit rose over 11% to Rs 70 crore.
Brainbees Solutions Ltd., the parent company of Firstcry, opened in the green after its net loss narrowed to Rs 8 crore, in comparison to Rs 116 crore. The revenue rose 14.3% to Rs 2,172 crore from Rs 1,900 crore.
While Max Estate Ltd. shares rose after they swung to profit in the December quarter, Zaggle Prepaid Ltd. was trading in the red.
Firstsource Ltd. profit surged in the third quarter to Rs 160 crore in comparison to Rs 138 crore reported in the previous quarter. The shares were in the green on the back of solid third quarter earnings.
Shares of Hindustan Food, Action Construction Ltd., Sarda Energy Ltd., Alembic Ltd., and Motisons Jeweller were trading in the green on Monday.
Jyoti CNC Ltd., Borosil Ltd., Linde India Ltd., Shipping Corporation of India Ltd., Dynamatic Technologies Ltd., Inox India Ltd., Appejay Surrendra Ltd., AIA Engineering Ltd., Goldiam Industries, Delhivery, Astra Micro, NRB Bearings Ltd., Stylam, Sun TV, Archean Chemical and Gokaldas Exp Ltd. were trading in the red after announcing their third quarter results.
