TVS Motor Q3 profit rises 15% YoY at Rs 178.4 crore; revenue rises 26% YoY

TVS reported a rise of 15 percent (year-on-year) in its net profit for December quarter at Rs 178.4 crore. The company had reported a profit of Rs 154.4 crore during the corresponding quarter of last year.

The company reported revenue growth of 26 percent for the quarter under review at Rs 4,664 crore against Rs 3,703.1 crore last year.

At an operating level, the earnings before interest, taxes, depreciation and amortization (EBITDA) grew to Rs 375.7 crore a jump of 25 percent from Rs 300.5 crore during the previous year.

The operating margin is reported at 8.1 percent against 8.12 percent last year.

At 13:18 hrs TVS Motor Company was quoting at Rs 545.20, up Rs 7.15, or 1.33 percent, on the BSE. It touched an intraday high of Rs 551.10 and an intraday low of Rs 520.60.

Source:https://www.moneycontrol.com/news/business/markets/tvs-motor-q3-profit-rises-15-yoy-at-rs-178-4-crore-revenue-rises-26-yoy-3419381.html

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Sensex down over 100 points, Nifty around 10,900; Sun Pharma up 3%

  

Market opens It’s a negative start to the market on Tuesday morning, with the Sensex falling around 100 points. The Nifty is below 10,950-mark. 

Weakness is visible among automobiles, banks, energy, IT and metal names, while Nifty Pharma index is trading higher. Gains in Sun Pharma are leading the charts for Nifty Pharma. The Nifty Midcap index is down around 0.25 percent. 

The Sensex is down 98.12 points or 0.27% at 36480.84, while the Nifty is lower by 35.90 points or 0.33% at 10926.00. The market breadth was narrow as 209 shares advanced, against a decline of 178 shares, while 38 shares were unchanged.

Sun Pharma and Kotak Mahindra Bank are the top gainers, while Axis Bank, M&M, Hindalco and TCS lost the most

Rupee Opens: The Indian rupee opened marginally higher at 71.22 per dollar on Tuesday versus 71.28 Monday.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-down-over-100-points-nifty-around-10900-sun-pharma-up-3-3417771.html

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IT stocks surge as rupee extends fall to near 71.50/$

Shares of information technology (IT) companies rose in trade as the rupee saw some depreciation.

After falling to 71.34 per US dollar against its previous close of 71.18 per US dollar, the rupee has further extended its fall to nearly 71.50 per US dollar.

Rupee fell in the latter half of the session on Friday primarily as global crude oil prices continued to rally after supply cuts led by OPEC supported prices. OPEC issued a list of oil production cuts by its members and other major producers for six months starting on January 1 to boost confidence in its oil supply reduction pact.

Last week, OPEC’s monthly report showed it had made a strong start in December before the pact went into effect, implementing the biggest month-on-month production drop in almost two years. Today, USD-INR pair is expected to quote in the range of 70.70 and 71.50, said Motilal Oswal.

A weaker rupee is seen as a positive cue for IT companies as it means better revenue.

Source: https://www.moneycontrol.com/news/business/markets/it-stocks-surge-as-rupee-extends-fall-to-near-71-50-3413801.html

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