SBI, ITC, Divi's Labs, IndiGo, Paytm, Zydus, JK Tyre Q3 Results Today—Earnings Estimates
SBI, ITC, Divi's Laboratories and IndiGo are among the companies that will announce their results today.
Index heavyweights State Bank of India and ITC Ltd. will join Divi’s Laboratories Ltd., IndiGo parent InterGlobe Aviation Ltd., Tata Power Co., Bank of Baroda and others in announcing financial results for the quarter ended December on Friday.
SBI, the largest bank of the country, is estimated to report a jump in earnings for December quarter on the back of improvement in asset quality and strong recoveries, according to Bloomberg. This will be in contrast to concerns about the lender's exposure to Adani Group stocks, which are facing a rough time in the equity market.
Among the analysts tracked by Bloomberg, 51 have given a 'buy' rating for the SBI stock, while two have a 'hold' rating for the scrip. The share is expected to move 13% within one day after the earnings are released, according to Bloomberg estimates.
FMCG behemoth ITC will be drawing upon budget proposals, namely hike in taxes levied on cigarettes, to present improved earnings visibility, according to Jefferies. The hotel-to-agri conglomerate is expected to see its stock move up to 3.6% within one day of earnings, according to a Bloomberg estimate.
Quess Corp. Ltd., Zydus Lifesciences Ltd., JK Tyre & Industries Ltd., Tube Investments of India Ltd., Marico Ltd., Paytm parent One97 Communications Ltd. and Kansai Nerolac Ltd. will also release their third quarter earnings.
Aarti Industries Ltd., Mahindra & Mahindra Financial Services Ltd., Jubilant Pharmova Ltd., Medplus Health Services Ltd., Manappuram Finance Ltd., Sumitomo Chemical India Ltd., Emami Ltd., Praj Industries Ltd., Sun TV Network Ltd., Star Cement Ltd., Jamna Auto Industries Ltd. and Thyrocare Technologies Ltd. will also announce their financials for the period under review.
Vakrangee Ltd., Shipping Corp. of India Ltd., PTC India Financial Services Ltd., KRBL Ltd., Ion Exchange Ltd., India Cements Ltd., Ethos Ltd., Dalmia Bharat Sugar & Industries Ltd., Borosil Ltd. and Brightcom Group Ltd. too are slated to announce their earnings for the quarter.
The estimates for major earnings scheduled for today are as follows:
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.