L&T Finance shares jumped 3% after a 29% profit beat. DMart fell 2% despite profit rise as revenue missed estimates. LTM flat after 17% profit jump.
LATAM AIRLINES GROUP S.A. currently carries an Alpha Score of n/a, giving AlphaScala's model a neutral read on the setup.
L&T Finance shares surged 3% to Rs 330.40 on the NSE after the non-bank lender reported a 29% jump in June-quarter consolidated net profit to Rs 902 crore from Rs 701 crore a year earlier. The result beat the consensus estimate of Rs 840 crore, two analysts said.
DMart, the Avenue Supermarts stock, traded 2% lower at Rs 3,995.60 despite an 11.33% rise in consolidated net profit to Rs 860.44 crore. Revenue growth of 14% to Rs 14,200 crore missed the street estimate of Rs 14,500 crore, a trader at a Mumbai-based brokerage said.
LTM (LTIMindtree) shares were flat at Rs 4,047 on the NSE at 10 am, following a 17.1% jump in June-quarter net profit to Rs 1,468.6 crore. Revenue rose 8.2% sequentially to Rs 9,850 crore. The stock carries an Alpha Score of 57 out of 100, a Moderate rating from AlphaScala's proprietary model. Read more on LTM.
Indian Bank shares fell 2% to Rs 853.05 after the state-run lender posted a 10% rise in net profit to Rs 3,273 crore. Provisions for bad loans rose 8% sequentially to Rs 1,200 crore, which weighed on sentiment, a banking analyst at a domestic brokerage said.
Krishana Phoschem posted net profit of Rs 47.09 crore for the June quarter, up from Rs 30.58 crore a year earlier. Revenue rose 18% to Rs 520 crore, helped by higher sales of phosphatic fertilizers. Shares traded at Rs 138.55, down 1%.
Wipro is set to report its June-quarter results later this week. Brokerages expect net profit in the range of Rs 3,394 crore to Rs 3,528 crore, reflecting a 3.1% to 9% sequential decline and a 1.4% to 4% drop year-on-year. The muted guidance reflects ongoing weakness in discretionary IT spending, particularly in the BFSI vertical, analysts at Kotak Institutional Equities said in a note.
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