The stocks of Tata Chemicals Ltd., Gland Pharma Ltd., Power Grid Corp. of India and Welspun Enterprises Ltd. were in focus on Tuesday, after the companies announced their third quarter results.
Tata Chemicals shares opened in the red after it reported a loss in the quarter ended December. Net loss stood at Rs 53 crore in comparison to profit of Rs 158 crore reported in the same quarter last year.
Gland Pharma stock also fell over 4.16%, despite registering a 6.7% advance in net profit at Rs 205 crore, beating the street’s expectation. Bloomberg had estimated the profit to be at Rs 193 crore. The revenue, however, fell 10.4% to Rs 1,384 crore, in comparison to Rs 1,545 crore reported in the year ago period.
Power Grid shares fell 4.12% on Tuesday after the company’s profit rose 4.13% to Rs 3,861.63 crore, against Rs 4,028.25 crore reported in the same quarter last year. It was also meeting analyst expectation of Rs 4,031 crore.
Welspun Enterprises shares also fell on Tuesday after profit in the third quarter fell 13.4% to Rs 77.5 crore, in comparison to Rs 89.5 crore reported in the December quarter last year.
In contrast, KEC International Ltd. shares opened in the green after it posted a profit of Rs 130 crore against Rs 97 crore reported in the same period in the previous fiscal. However, it was below the analyst expectation of Rs 162 crore.
The shares of NLC India Ltd. also rose after it’s net profit more than doubled to Rs 668 crore, in comparison to Rs 250 crore reported in the same quarter last year. The shares of Castrol India were also in the positive on Tuesday after its third quarter profit rose 12.2% to Rs 271 crore beating analyst expectations.
While Garden Reach Shipbuilders Ltd. shares rose after they posted a rise in profit in the December quarter, DOMS Industries Ltd. was trading in the red.
Gateway Distripak Ltd. profit surged in the third quarter to Rs 455 crore, in comparison to Rs 63.3 crore reported in the same period in the last fiscal. The shares were in the green on the back of solid third quarter earnings.
HFCL stock was trading in the red on Tuesday. Paradeep Phosphates Ltd., Indraprastha Medical Ltd., Shalby Ltd. and Thomas Cook Ltd. were also down after reporting their results.
Religare Enterprises Ltd., Premier Energies Ltd., General Insurance Corp. of India, Dredging Corp. and MM Forgings Ltd. were trading in the green after announcing their third quarter results.
. Read more on Markets by NDTV Profit.While Garden Reach Shipbuilders Ltd. shares rose after they posted a rise in profit in the December quarter, DOMS Industries Ltd. was trading in the red. Read MoreMarkets, Business, Notifications
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