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Tech Mahindra's net profit rose 18.5 percent quarter-on-quarter to Rs 1,064.3 crore for the quarter ended September, the company said in an exchange filing today. That compares with the Bloomberg consensus estimate of Rs 1,013 crore.
Revenue rose 4.3 percent on a sequential basis to Rs 8,629.8 crore during the three-month period. That was also above the Rs 8,609 crore forecast. Revenue in dollar terms fell 0.5 percent from the last quarter to $ 1,218 million.
Shares of the Kolkata-based beauty and healthcare products maker swung between gains and losses after its profit missed Bloomberg consensus estimates in September quarter.
Key earnings highlights:
Shares of the Ahmedabad-based air cooler maker fell as much as 4.6 percent to Rs 913 after its profit declined in September quarter.
Key earnings highlights:
Indian equity benchmarks declined dragged Reliance Industries, HDFC twins, ITC and IndusInd bank.
The S&P BSE Sensex fell 0.2 percent or 52 points to 34,015 and the NSE Nifty 50 Index declined 0.17 percent or 17 points to 10,233.
Mid- and small-cap shares were outperforming larger peers as the S&P BSE MidCap and S&P BSE SmallCap Indices rose over a percent each.
The overall market breadth was positive as 1,515 shares were advancing while 866 were declining on the BSE.
Shares of the Pune-based company snapped its snapped its longest losing streak in over three months. the stock rose as much as 3.3 percent to Rs 854 apiece.
The company terminated 236 employees with effect from Oct. 26-27 for going on mass leave from Dec. 02, 2017 till Jan. 19 without any prior intimation and sufficient cause, according to its stock exchange filing.
Shares of Info Edge fell as much as 3.6 percent to Rs 1,533.15 apiece after it announced its quarterly results for the July-September period.
Key earnings highlights (Q2, YoY):
About 13.6 lakh shares of CG Power changed hands in a block deal, according to Bloomberg data. Buyers and sellers were not known immediately.
Shares of the information technology company rose as much as 3.3 percent to Rs 686 ahead of its quarterly results announcement. The analysts surveyed by Bloomberg are forecasting its net profit at around Rs 1,013 crore.
Tech Mahindra earnings preview (Q2, QoQ):
S Naren Says Valuation No Longer The Problem For India Stocks
Nifty Bank's 25,500 strike price call option contract was among the most active option contracts on the National Stock Exchange.
Premium on the contract rose 36 percent to Rs 58.30. Over 2.30 lakh shares were added to the open interest which stood at over 10.03 lakh shares.
Shares of the Mumbai-based local search engine operator rose as much as 12 percent to Rs 509 after it reported September quarter earnings.
Key earnings highlights:
Shares of the Mumbai-based airline operator rose as much as 5 percent to Rs 224.80 per share.
The company clarified reports that it did not default on payment of lease rentals, according to an exchange filing. Meanwhile, Financial Express reported that U.S.-based Delta Airlines was in talks to acquire stake in the debt-laden airline.
Shares of the Mumbai-based state-run lender rose as much as 2.51 percent to Rs 71.45 after it swung to profit in September quarter.
Key earnings highlights:
Shares of the parent of luxury carmaker Jaguar Land Rover rose as much as 3.2 percent to Rs 180.95 as China is considering a tax cut to revive its flagging automotive market, Bloomberg reported citing people familiar with the matter.
Tata Motors earns sizeable amount of revenue by selling Jaguar Land Rover cars in China.
Shares of the state-run oil marketing company fell as much as 4.2 percent, the most in over a week, to Rs 265.75 after its profit nearly halved and missed Bloomberg consensus estimates in July-September quarter.
BPCL's net profit came in at Rs 1,218.7 crore compared with profit of Rs Rs 2,293.26 crore during the previous quarter. Analysts estimates compiled by BloombegQuint had estimated it to report net profit of Rs 1,796 crore.
BPCL’s gross refining margin—the amount it earns for converting a barrel of crude to fuel—fell to $5.6 from $7.9 in the previous quarter. The decline in refining margin was also due to lower inventory gains.
Sovereign bonds may extend yesterday’s gain as crude oil prices eased. The demand for debt will be watched at a Rs 6,600 crore sale of state bonds today.
Brent oil is headed for the steepest monthly decline since July 2016.
The Rupee may open positive tracking the latest comments from U.S. president Donald Trump to Fox News. He predicted a great deal with China, signaling a truce in the ongoing trade war.
Some of the major data points keenly watched this week include PMIs for services, composite and manufacturing.
Jefferies on Colgate
Motilal Oswal on BPCL
Citi on Tata Power
Citi on Cipla
Investec
Citi
Ujjivan Financial Services: Franklin Templeton MF acquired 10.5 lakh shares (0.87 percent) at Rs 184.44 each.
(As reported on Oct. 29)
LIC Housing Finance (Q2 ,YoY)
Union Bank of India (Q2, YoY)
Just Dial (Q2, YoY)
Thirumalai Chemicals (Q2, Consolidated YoY)
DCM Shriram (Q2, Consolidated YoY)
HDFC AMC (Q2, YoY)
Granules India Consolidated (Q2, YoY)
Nilkamal Standalone (Q2, YoY)
Mahindra Holiday & Resorts (Q2, Standalone YoY)
Sun Pharma Advanced Research (Q2, YoY)
HSIL (Q2, Standalone YoY)
Nifty Earnings To Watch
Other Earnings To Watch
Here are some key events coming up this week:
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