L&T, Tata Consumer Products, Waaree Energies, Biocon, Kalyan Jewellers Shares React Post Q3 Results
Tata Consumer Products Ltd. shares rose nearly 6% after registering a flat net profit of Rs 278.8 crore.
Stocks of Larsen & Toubro Ltd., Tata Consumer Products Ltd., Waaree Energies Ltd. and Kalyan Jewellers Ltd. were in focus on Friday, after the companies announced their third quarter results.
L&T opened in the positive after reporting a 14% rise in profit to Rs 3,359 crore. The engineering and construction company achieved the largest single-quarter order inflow in the third quarter and is confident of achieving its full-year guidance for orders, revenue and core operating margins in the current financial year.
Tata Consumer Products Ltd. shares also rose nearly 6% after registering a flat net profit of Rs 278.8 crore, impacted by the inflation in the tea business and high interest costs. In addition, Morgan Stanley and Jefferies cut their target prices, while maintaining their ratings.
Waaree Energies shares rose over 14% after the company's profit quadrupled to Rs 493 crore, in comparison to Rs 125 crore reported in the same quarter last year.
In contrast Bicon Ltd.'s profit fell 96% in the third quarter to Rs 25 crore, missing Bloomberg estimate of Rs 125 crore. However, the shares rose nearly 4% on Friday.
Kalyan Jewellers shares opened in the green after it posted 21% surge in net profit at Rs 218.8 crore. However, the profit was below the Rs 246-crore estimate by Bloomberg. Citi has also cut its target price to Rs 650 from the initial Rs 810.
Shares of Bank of Baroda Ltd. fell despite a 6% rise in net profit to Rs 4,837 crore. NII was up 3% to Rs 11,417 crore.
Prestige Estates Projects Ltd. and PB Fintech Ltd. shares fell after they posted a dip in profit in the December quarter, and Jindal Steel Ltd. fell despite reporting a profit of Rs 950.50 crore. Ajanta Pharma Ltd. was in the green after it reported a 10.9% surge in net profit for quarter ended December.
Container Corp. reported a 10.8% rise in net profit, but the shares fell nearly 3% on Friday.
Shares of Aavas Financiers Ltd., Care Ratings Ltd. and NESCO were also trading in the red on Friday. Praj Industries Ltd., Phoenix Mills Ltd. and Voltamp Transformers Ltd. were also down after reporting their results.
Astral Ltd., Bajaj Holdings Ltd., Greenlam Industries Ltd., Navin Fluorine Ltd., Pricol Ltd., Protean EGov Ltd. and Shree Cements Ltd. were trading in the green after announcing their third quarter results.
