Tech Mahindra, Wipro, Kotak Mahindra Bank Shares React Post Q3 Results — Check Here
Wipro shares saw an 8% gain after its net profit rose by 4.6% to Rs 3,354 crore.
Stocks of Tech Mahindra Ltd., Wipro Ltd. and Kotak Mahindra Bank Ltd. are in focus on Monday, after the companies announced their third quarter results.
While Tech Mahindra opened in the negative after it reported a 21.4% fall in profit to Rs 983 crore, Kotak Mahindra Bank rose over 8% to open in the green, as the bank's profit rose over 10% to Rs 3,305 crore.
Wipro saw an 8% gain after its net profit rose by 4.6% to Rs 3,354 crore. Most brokerages also maintained their rating on the shares of Wipro, after the IT firm reported third quarter results that beat market expectations, with margin growth and improving demand commentary.
RBL Bank shares fell over 5% on the back of weaker than expected results for the quarter ended December. In addition, most brokerages have cut their earnings estimate for RBL Bank. Chennai Petrochemical Ltd. stock also fell over 1% on Monday due to a 94.2% decline in net profit to Rs 20.8 crore.
Rallis India shares fell 8.84% after reporting a 54.2% fall in profit in the third quarter of this fiscal.
On the other hand, ICICI Lombard Insurance shares rose nearly 4% after it reported a 67.9% jump in net profit to Rs 724 crore. The net premium income also rose 17.2% to Rs 5,045 crore. Indian Hotels Ltd. also rose on the back of a 32.6% jump in net profit to Rs 633 crore.
Avantel Ltd, and Ramkrishna Forgings Ltd. shares fell 4.25% and rose over 1% respectively, on reporting a rise in profit for the quarter ended December.
Netweb Technology Ltd.'s shares also fell 10.84% after profit rose 17.9% to Rs 30.3 crore.
Jio Financials Ltd. and Supreme Petrochemical Ltd. shares also fell over 2%.
