Q3 earnings: M&M, Pfizer,
, Alkem Laboratories, Aditya Birla Capital, Ashoka Buildcon, Britannia, Cadila Healthcare, Equitas Holdings, Fortis Healthcare, GlaxoSmithkline Pharma, Gujarat Gas and Jubilant Life Sciences will be reporting their financial results for the October-December period on Friday.
Other companies that will be posting their Q3 earnings include Narayana Hrudaya, SKF India, TCNS Clothing, Mrs. Bectors Food Specialities, Cholamandalam Financial Holdings, Kolte Patil Developers, NIIT, Privi Speciality Chemicals, Rashtriya Chemicals & Fertilizers, Shipping Corp and Sumitomo Chemical.
Godrej Properties: The company told analysts in a post-earnings conference call that it is readying a war chest of about $1 billion to acquire land, assets, and under-construction projects from other builders facing stress due to the COVID-19 pandemic.
Trent: The company reported a net profit of Rs. 79.66 crore for the quarter ended December 31, as against Rs. 55.74 crore for the corresponding period a year ago. The company’s bottomline was above analysts’ estimate of Rs. 26.7 crore.
Container Corporation: The company’s net profit in the December quarter rose sharply to Rs. 240 crore from Rs. 180 crore in the year-ago period.
FDC: The company’s consolidated net profit for the December quarter came in at Rs. 75.25 crore, as against Rs. 74.15 crore a year ago.
Rate-sensitive stocks: Shares of sectors such as banking, financial services, automobiles and real estate will be tracked closely as the RBI’s Monetary Policy Committee announces its decision on key lending rates following a bi-monthly review. RBI is seen holding the repo rate at 4.0 per cent through the rest of 2021 and possibly beyond, according to the median estimate in a Reuters poll. It has already slashed its key lending rate or the repo rate by 115 basis points since March 2020 to cushion the shock from the coronavirus crisis.
Adani Transmission: The company reported a nearly 128 per cent increase in consolidated net profit to Rs 464 crore for the quarter ended December 31. Its total income dipped to Rs 2,734.04 crore in the third quarter of the current financial year, from Rs 2,835.72 crore in the year-ago period.
Biocon: Biocon’s subsidiary, Biocon Biologics, signed a pact with the Clinton Health Access Initiative (CHAI) to expand access to cancer biosimilars in over 30 countries in Africa and Asia as a part of the Cancer Access Partnership.
Jindal Stainless: The company reported a manifold jump in consolidated net profit to Rs 170.20 crore for the quarter ended December 31, mainly on account of increased income. Its total income rose to Rs 3,592.04 crore, from Rs 3,312.44 crore in the year-ago period.
Bharti Airtel: The telecom major – which recently declared that its network is 5G-ready – does not anticipate any material change in its capital expenditure profile with the advent of fifth-generation services, its CEO Gopal Vittal said on an investor call after announcing a strong Q3 performance. He also said that the company will shut down its copper infrastructure in a year or so, and only have the fiber-to-the-home. “We are…in the process of rapidly upgrading our legacy copper assets completely to fibre,” he said, calling it a “game-changing move”.
Oil marketing companies: Petrol and diesel prices climbed to fresh highs in the country, even as fuel retailers said the government can cut taxes to ease consumer burden. Petrol and diesel price was hiked by 35 paise per litre each after a gap of a week, according to price notifications from state-owned fuel retailers. Mukesh Kumar Surana, head of Hindustan Petroleum Corporation, said there has been a sudden spike in international oil prices to $59 per barrel in the last 2-3 days because of perception of a mismatch in demand and supply as well as a cut in production by Saudi.
