Sensex Clocks Longest Losing Streak In Nearly Five Months; Nifty Ends Below 10,800

Adani Transmission (Q3, YoY)

• Stock rose as much as Rs 2.9 percent to Rs 217.85.
• Net profit down 78 percent to Rs 189.22 crore.
• Revenue up 67.9 percent to Rs 2,583.67 crore.

Take Solutions (Q3, YoY)

• Stock fell as much as 4.7 percent to Rs 120.
• Net profit at Rs 35.76 crore versus Rs 41.11 crore.
• Revenue at Rs 521.64 crore versus Rs 408.02 crore.

Adani Gas (Q3, YoY)

• Stock rose as much as 5.4 percent to Rs 99.05 crore.
• Net profit up 12.9 percent to Rs 47.21 crore.
• Revenue up 39 percent to Rs 484.84 crore.

Greenlam Industries (Q3, YoY)

• Stock fell as much as 4.3 percent to Rs 495.45.
• Net profit up 14 percent to Rs 20 crore.
• Revenue up 12 percent to Rs 314 crore.

Goodyear India (Q3, YoY)

• Stock fell as much as 5.3 percent to Rs 5.3 percent.
• Net profit down 42.3 percent to Rs 21.7 crore.
• Revenue up 16.3 percent to Rs 464 crore.

Force Motors (Q3, YoY)

• Stock rose as much as 5.1 percent to Rs 1,420.
• Net profit at Rs 27.34 crore versus Rs 14.65 crore.
• Revenue at Rs 826 crore versus Rs 749.5 crore.

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Shares of Bosch Ltd. fell as much as 4.1 percent to Rs 17,828.95, the lowest since Oct. 24, 2018 after reporting its December quarter earnings.

Key Earnings Highlights (Q3, YoY)

• Revenue up 0.8 percent at Rs 3095.5 crore
• Net profit up 19.3 percent at Rs 335.4 crore
• Ebitda down 5.6 percent at Rs 422.7 crore.
• Margin at 13.7 percent versus 14.6 percent.

Bharat Forge Ltd. reported a net profit of Rs 309.8 crore, an increase of 35.8 percent during October-December period. from the year-ago period, according to its stock exchange filing.

Shares of the company rose as much as 3.7 percent to Rs 501.50. after the results announcement.

Key Earnings Highlights (Q3, YoY)

• Revenue up 21.7 percent to Rs 1692.5 crore.
• Ebitda up 26.3 percent to Rs 525.8 crore.
• Margin at 31.1 percent versus 29.9 percent.

Nifty’s 10,900 option contract was among the most active Nifty option contracts on National Stock Exchange.

Premium on the contract fell 4.15 percent to Rs 36.55. Over 4.54 lakh shares were added to the open interest which stood at over 18.13 lakh shares.

Prestige Estates Projects (Q3, YoY)

• Stock fell as much as 1.4 percent to Rs 198.15.
• Revenue down 15.3 percent to Rs 1,077.6 crore.
• Net profit down 35 percent to Rs 58.1 crore.
• Ebitda up 13.2 percent to Rs 343.7 crore.
• Margin at 31.9 percent versus 23.9 percent.
• Decrease in inventory worth Rs 318.3 crore.

Jain Irrigation Systems (Q3, YoY)

• Stock fell as much as 10.1 percent to Rs 48.80.
• Revenue up 9.2 percent to Rs 2,037.7 crore.
• Net profit up 23 percent to Rs 82.4 crore.
• Ebitda up 12.2 percent to Rs 222.2 crore.
• Margin at 10.9 percent versus 10.6 percent.
• Other income up 47 percent to Rs 91.7 crore.

Man Industries (Q3, YoY)

• Stock rose as much as 2.5 percent to Rs 57.80.
• Revenue up 7.3 percent to Rs 515.6 crore.
• Net profit down 8.8 percent to Rs 15.5 crore.
• Ebitda flat to Rs 21.6 crore.
• Margin at 4.2 percent versus 4.5 percent.
• Inventory loss of Rs 58.3 crore.

JK Paper (Q3, YoY)

• Stock rose as much as 4.9 percent to Rs 140.50.
• Revenue up 10.8 percent to Rs 869.5 crore.
• Net profit up 9.8 percent to Rs 120.3 crore.
• Ebitda up 21 percent to Rs 247.6 crore.
• Margin at 28.5 percent versus 26.1 percent.

Matrimony.com (Q3, YoY)

• Stock fell as much as 6.1 percent to Rs 375.50.
• Revenue up 1.9 percent to Rs 85.3 crore.
• Net profit down 70.4 percent to Rs 6.8 crore.
• Ebitda down 44.8 percent to Rs 9.6 crore.
• Margin at 11.3 percent versus 20.8 percent.
• Exceptional gain of Rs 12.8 crore.
• Advertisement expenses up 51 percent to Rs 22.2 crore.

Natco Pharma (Q3, YoY)

• Stock fell as much as 4.6 percent to Rs 636.05.
• Revenue down 1 percent to Rs 556.7 crore.
• Net profit down 26.7 percent to Rs 159.5 crore.
• Ebitda down 27.3 percent to Rs 208.4 crore.
• Margin at 37.4 percent versus 51 percent.
• Raw material cost as percent of sales to 14.9 percent.
• Declares dividend of Rs 3.5 apiece.

Bata India (Q3, YoY)

• Stock rose as much as 3.7 percent to Rs 1,235.
• Revenue up 15.5 percent to Rs 778.7 crore.
• Net profit up 51.5 percent to Rs 103.2 crore.
• Ebitda up 46.7 percent to Rs 163.6 crore.
• Margin at 21 percent versus 16.5 percent.

IOL Chemicals and Pharma (Q3, YoY)

• Stock rose as much as 12.6 percent to Rs 223.80.
• Revenue up 82.1 percent to Rs 478.3 crore.
• Net profit up 9.3 times to Rs 82.2 crore.
• Ebitda up 4.3 times to Rs 135.6 crore.
• Margin at 28.4 percent versus 12.1 percent.

Oil India (Q3, QoQ)

• Stock rose as much as 4.5 percent to Rs 177.45.
• Revenue down 6.1 percent to Rs 3,514 crore.
• Net profit up 43.1 percent to Rs 1,233.5 crore.
• Ebitda up 3.2 percent to Rs 1,521.5 crore.
• Margin at 43.3 percent versus 39.4 percent.
• Other Income up 2.1 times to Rs 601.2 crore.
• Declares interim dividend of Rs 8.5 apiece.

Indian Hotels (Q3, YoY)

• Stock rose as much as 4.5 percent to Rs 141.95.
• Revenue up 10.5 percent to Rs 1,323.5 crore.
• Net profit up 50 percent to Rs 161.8 crore.
• Ebitda up 19.6 percent to Rs 335.6 crore.
• Margin at 25.4 percent versus 23.4 percent.
• Exceptional gain to Rs 41 crore.

Container Corporation of India (Q3, YoY)

• Stock fell as much as 6.9 percent to Rs 477.
• Revenue up 3.2 percent to Rs 1,657.1 crore.
• Net profit down 0.9 percent to Rs 274.7 crore.
• Ebitda down 2.3 percent to Rs 418.4 crore.
• Margin at 25.2 percent versus 26.7 percent.
• Deferred tax credit reversal of Rs 44.7 crore.

Manpasand Beverages (Q3, YoY)

• Stock rose as much as 4.1 percent to Rs 84.60.
• Revenue up 14.3 percent to Rs 163.5 crore.
• Net profit down 18.3 percent to Rs 9.8 crore.
• Ebitda up 38.2 percent to Rs 36.9 crore.
• Margin at 22.6 percent versus 18.7 percent.
• Depreciation expenses up 47 percent to Rs 25.7 crore.
• Other income of Rs 5.3 crore.

Balaji Telefilms (Q3, YoY)

• Stock fell as much as 3.1 percent to Rs 80.45.
• Revenue up 48.8 percent to Rs 96.3 crore.
• Net loss of Rs 27.3 crore versus net profit of Rs 24.8 crore.
• Ebitda loss to Rs 26.2 crore versus Ebitda loss to Rs 7.5 crore.
• Inventory loss of Rs 29.5 crore in base quarter.
• Deferred Tax reversal of Rs 20.1 crore in the base quarter.

Automotive Axles (Q3, YoY)

• Stock rose as much as 4.8 percent to Rs 1,168.90.
• Revenue up 19.1 percent to Rs 485.8 crore.
• Net profit up 36.8 percent to Rs 30.5 crore.
• Ebitda up 26.8 percent to Rs 55.8 crore.
• Margin at 11.5 percent versus 10.8 percent.

Water Base (Q3, YoY)

• Stock fell as much as 4.8 percent to Rs 122.35.
• Revenue up 7.2 percent to Rs 64.3 crore.
• Net profit down 12.1 percent to Rs 2.9 crore.
• Ebitda down 11.3 percent to Rs 6.3 crore.
• Margin at 9.8 percent versus 11.8 percent.
• RM cost as percent of sales to 58.5 percent.

CG Power and Industrial (Q3, YoY)

• Stock fell as much as 1.8 percent to Rs 28.05.
• Revenue up 12 percent to Rs 1,720 crore.
• Ebitda up 14 percent to Rs 148.5 crore.
• Margin at 8.6 percent versus 5.5 percent.
• Net loss of Rs 150 crore versus net loss of Rs 28 crore.
• Exceptional loss of Rs 116 crore due to foreign exchange loss and write-off of debtors (Rs 108 crore).

Larsen & Toubro Ltd.’s construction unit wins order for construction of hospitals from a private developer, according to its statement on the exchanges.

The order is valued at the range of Rs 2,500-5,000 crore as per the company’s classification of project.

Shares of the company fluctuated between gains and losses to trade a little changed at Rs 1,247.80.

Shares of the autoparts maker halted its three-day losing streak and rose as much as 4 percent to Rs 143.80.

The company said that it has started the commercial production in Aurangabad unit in Maharashtra to supply auto parts to Bajaj Auto Ltd., according to its notification to the stock exchanges. The unit will have a capacity of 7 lakh units annually and will manufacture and supply chassis frame, swing arm and trail arm to Bajaj Auto.

The relative strength index on the stock was below 30 indicating the it may be oversold.

Here’s what analysts had to say after the company’s quarterly earnings announcement:

CLSA

• Maintained ‘Buy’ with a price target of Rs 560.
• Good December quarter even after the adjustments.
• Specialty pipeline execution will be the key focus area for the next financial year.
• Current valuations attractive and stronger specialty portfolio ramp-up could drive rerating.

Macquarie

• Maintained ‘Neutral’ with a price target of Rs 450.
• Forex adjusted Ebitda marginally ahead due to lower R&D.
• Continue to await signs of specialty ramp-up and increased generic traction from Halol.
• Investor concerns on governance unlikely to completely dissipate until clarity on SEBI’s investigation.

Citi

• Maintained ‘Buy’ with a price target of Rs 540.
• Low R&D and forex gain drive quarterly beat.
• Management commentary was optimistic on specialty, steady on generics and hinted at better disclosures going forward.

Prestige Estates Projects (Q3, YoY)

• Revenue down 15.3 percent to Rs 1,077.6 crore.
• Net profit down 35 percent to Rs 58.1 crore.
• Ebitda up 13.2 percent to Rs 343.7 crore.
• Margin at 31.9 percent versus 23.9 percent.
• Decrease in inventory worth Rs 318.3 crore.

Jain Irrigation Systems (Q3, YoY)

• Revenue up 9.2 percent to Rs 2,037.7 crore.
• Net profit up 23 percent to Rs 82.4 crore.
• Ebitda up 12.2 percent to Rs 222.2 crore.
• Margin at 10.9 percent versus 10.6 percent.
• Other income up 47 percent to Rs 91.7 crore.

Man Industries (Q3, YoY)

• Revenue up 7.3 percent to Rs 515.6 crore.
• Net profit down 8.8 percent to Rs 15.5 crore.
• Ebitda flat to Rs 21.6 crore.
• Margin at 4.2 percent versus 4.5 percent.
• Inventory loss of Rs 58.3 crore.

JK Paper (Q3, YoY)

• Revenue up 10.8 percent to Rs 869.5 crore.
• Net profit up 9.8 percent to Rs 120.3 crore.
• Ebitda up 21 percent to Rs 247.6 crore.
• Margin at 28.5 percent versus 26.1 percent.

Matrimony.com (Q3, YoY)

• Revenue up 1.9 percent to Rs 85.3 crore.
• Net profit down 70.4 percent to Rs 6.8 crore.
• Ebitda down 44.8 percent to Rs 9.6 crore.
• Margin at 11.3 percent versus 20.8 percent.
• Exceptional gain of Rs 12.8 crore.
• Advertisement expenses up 51 percent to Rs 22.2 crore.

Natco Pharma (Q3, YoY)

• Revenue down 1 percent to Rs 556.7 crore.
• Net profit down 26.7 percent to Rs 159.5 crore.
• Ebitda down 27.3 percent to Rs 208.4 crore.
• Margin at 37.4 percent versus 51 percent.
• Raw material cost as percent of sales to 14.9 percent.
• Declares dividend of Rs 3.5 apiece.

Bata India (Q3, YoY)

• Revenue up 15.5 percent to Rs 778.7 crore.
• Net profit up 51.5 percent to Rs 103.2 crore.
• Ebitda up 46.7 percent to Rs 163.6 crore.
• Margin at 21 percent versus 16.5 percent.

IOL Chemicals and Pharma (Q3, YoY)

• Revenue up 82.1 percent to Rs 478.3 crore.
• Net profit up 9.3 times to Rs 82.2 crore.
• Ebitda up 4.3 times to Rs 135.6 crore.
• Margin at 28.4 percent versus 12.1 percent.

Oil India (Q3, QoQ)

• Revenue down 6.1 percent to Rs 3,514 crore.
• Net profit up 43.1 percent to Rs 1,233.5 crore.
• Ebitda up 3.2 percent to Rs 1,521.5 crore.
• Margin at 43.3 percent versus 39.4 percent.
• Other Income up 2.1 times to Rs 601.2 crore.
• Declares interim dividend of Rs 8.5 apiece.

Indian Hotels (Q3, YoY)

• Revenue up 10.5 percent to Rs 1,323.5 crore.
• Net profit up 50 percent to Rs 161.8 crore.
• Ebitda up 19.6 percent to Rs 335.6 crore.
• Margin at 25.4 percent versus 23.4 percent.
• Exceptional gain to Rs 41 crore.

Container Corporation of India (Q3, YoY)

• Revenue up 3.2 percent to Rs 1,657.1 crore.
• Net profit down 0.9 percent to Rs 274.7 crore.
• Ebitda down 2.3 percent to Rs 418.4 crore.
• Margin at 25.2 percent versus 26.7 percent.
• Deferred tax credit reversal of Rs 44.7 crore.

Manpasand Beverages (Q3, YoY)

• Revenue up 14.3 percent to Rs 163.5 crore.
• Net profit down 18.3 percent to Rs 9.8 crore.
• Ebitda up 38.2 percent to Rs 36.9 crore.
• Margin at 22.6 percent versus 18.7 percent.
• Depreciation expenses up 47 percent to Rs 25.7 crore.
• Other income of Rs 5.3 crore.

Balaji Telefilms (Q3, YoY)

• Revenue up 48.8 percent to Rs 96.3 crore.
• Net loss of Rs 27.3 crore versus net profit of Rs 24.8 crore.
• Ebitda loss to Rs 26.2 crore versus Ebitda loss to Rs 7.5 crore.
• Inventory loss of Rs 29.5 crore in base quarter.

Automotive Axles (Q3, YoY)

• Revenue up 19.1 percent to Rs 485.8 crore.
• Net profit up 36.8 percent to Rs 30.5 crore.
• Ebitda up 26.8 percent to Rs 55.8 crore.
• Margin at 11.5 percent versus 10.8 percent.

Water Base (Q3, YoY)

• Revenue up 7.2 percent to Rs 64.3 crore.
• Net profit down 12.1 percent to Rs 2.9 crore.
• Ebitda down 11.3 percent to Rs 6.3 crore.
• Margin at 9.8 percent versus 11.8 percent.
• RM cost as percent of sales to 58.5 percent.

CG Power and Industrial (Q3, YoY)

• Revenue up 12 percent to Rs 1,720 crore.
• Ebitda up 14 percent to Rs 148.5 crore.
• Margin at 8.6 percent versus 5.5 percent.
• Net loss of Rs 150 crore versus net loss of Rs 28 crore.
• Exceptional loss of Rs 116 crore due to foreign exchange loss and write-off of debtors (Rs 108 crore).
• Losses from discontinued operations stood at Rs 81 crore versus Rs 109 crore.

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