L&T Finance, Dixon Technologies, MCX, Oberoi Realty Shares React Post Q3 Results
L&T Finance opened in the negative after it reported a 2.1% fall in profit to Rs 626.4 crore.
The stocks of L&T Finance Ltd., Dixon Technologies Ltd., Oberoi Realty Ltd. are in focus on Tuesday after the companies announced their third-quarter results.
L&T Finance opened in the negative after it reported a 2.1% fall in profit to Rs 626.4 crore. Dixon Technologies also fell over 8% to open in the red despite the company's profit more than doubling to Rs 217 crore. Goldman Sachs has cut the target price while it maintained 'sell' on the stock. The target was cut to Rs 10,240 from Rs 10,290.
Multi Commodity Exchange of India Ltd. fell over 4% despite its net profit rising by 4% to Rs 160 crore. The company's operating profit, too, jumped 8% over the September quarter, while its margin against the revenue saw a 124-basis-point expansion. However, Morgan Stanley has maintained an 'underweight' rating for MCX with a target price of Rs 3,715 apiece as it found the current valuation stretched given low conviction on sustainability of revenues.
J&K Bank and AGI Greenpac fell 0.11% and rose over 6%, respectively, after reporting a rise in profit for the quarter ended December.
Oberoi Realty shares also fell over 5% despite a 72% rise in net profit to Rs 618.4 crore. The board of directors of the company declared a third interim dividend of Rs 2 per equity share for the current fiscal. The company has fixed Jan. 24 as the record date for the purpose of payment of the interim dividend, which will be paid from Feb. 10.
After swinging to net profit of Rs 42.52 crore, SunTeck Realty on Tuesday saw a 9% jump. Morgan Stanley has maintained 'equal weight' with a target price of Rs 2,060 per share as the company missed estimates.
On the other hand, Indostar Capital fell nearly 8% after it reported a fall in profit to Rs 11 crore. The NII rose to Rs 5,045180 crore.
