Friday, October 23
Tyre maker CEAT Ltd on Wednesday reported a 46.48 per cent decline in consolidated net profit to Rs 97.03 crore for the third quarter ended December 31, impacted by high raw materials costs. The company had posted a consolidated net profit of Rs 181.28 crore in the same quarter last fiscal, CEAT Ltd said in a regulatory filing. Its consolidated revenue from operations stood at Rs 3,299.9 crore against Rs 2,963.14 crore in the year-ago period, it added. The total expenses were higher at Rs 3,175.58 crore compared to Rs 2,738.53 crore a year ago. The cost of materials consumed was Rs 2,116.52 crore, up from Rs 1,694.91 crore in the third quarter of the last fiscal, the company said. "While the rising raw material costs have impacted our margins, we progressively passed on part of the increas
Benchmark indices Sensex and Nifty bounced back on Tuesday after four days of sharp decline on easing retail inflation and a rebound in global markets.Stocks that were in focus include names like Angel One, which fell 3.1% and HDFC Life, which rose 0.2% and Network18, whose shares gained 3% on Tuesday.Here's what Kushal Gandhi, Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.Angel OneRecently, the price action of Angel One has been influenced by profit booking, resulting in a correction of nearly 35%. However, it has been observed that the stock is finding support at its fair value gap area around the 2340 level. The candlestick pattern formed during the previous trading session is a doji, which signals indecision amid th
The third quarter earnings season is underway and about 24 companies will announce their quarterly numbers on Wednesday. Key results to watch out include from HDFC Life, L&T Tech and Bank of Maharashtra.Apart from the above, companies like CEAT, Nelco, Oriental Hotels, Indiabulls Enterprises, Aeroflex Industries, Oracle Financial and several others will also declare their results.HDFC Life Q3 expectationsLeading life insurance company HDFC Life is expected to report healthy growth in its profitability during the third quarter. The profit is seen rising 21% year-on-year (YoY) to Rs 443 crore, according to estimates from Emkay. Meanwhile, Motilal Oswal expects the profit growth to be 19% YoY during the reporting period.There are no other estimates on the company's third quarter profit an
