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In an interview to CNBC-TV18, Tanuj Verma of Prakash Industries spoke about the results and his outlook for the company.
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Credit Suisse has maintained outperform rating on the stock, with reduced target price at Rs 630 from Rs 680 after cutting FY17/FY18/FY19 EPS estimates by 26 percent/15 percent/12 percent.
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US generics business that accounts for nearly half of Sun Pharma sales grew at a moderate pace of 4 percent USD 507 million in the third quarter.
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UK subsidiary Jaguar Land Rover, too, disappointed the street. Net income during the quarter dropped 62 percent year-on-year to 167 million pound but revenue increased 13.1 percent to 6,537 million pound on volume growth.
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Albanese said with focus on simplifying the group structure, the Vedanta and Cairn India merger is expected to be completed in the first quarter of CY 2017. The proposed merger was approved by all sets of shareholders in September 2016.
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Revenue during the quarter may increase 19 percent year-on-year to Rs 5,200 crore while operating profit may jump 87 percent to Rs 1,030 crore and margin may expand 700 basis points to 20 percent, driven by higher steel volumes and improved realisations.
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Management's commentary is important to watch out for than results. Majority of earnings' contribution come from Hindustan Zinc and Cairn India, wherein Vedanta owns 65 percent and 59 percent stake, respectively. Both companies' results beat analysts' expectations.
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Operating profit is seen rising 9 percent year-on-year to Rs 63 crore and margin may expand 100 basis points to 5.4 percent in Q3, aided by MEP (electro-mechanical projects) business.
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Cargo business may grow by 12-14.2 percent year-on-year to 42-44 million tonnes due to strong growth in container cargo. Dhamra, Hazira, and Kandla ports are likely to witness strong traffic growth while growth rate at Mundra and Dahej ports is likely to remain subdued.
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Earnings may continue to be impacted by cost overruns in legacy projects. Rental income may reduce due to demonetisation impact on residential sales.
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JLR's profit is seen down at 371 million pound against 440 million pound on yearly basis. Revenue may increase 11 percent to 6,432.5 million pound, supported by forex tailwinds.
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According to average of estimates of analysts polled by CNBC-TV18, revenue during the quarter may increase 11.6 percent year-on-year to Rs 7,905.3 crore, driven by Sun's authorised generic (AG) launches of Daichi Sankyo drugs in US.
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"The impact in terms of liquidity crunch was felt by consumers and channel partners, thereby impacting revenues with sales dropping in November sequentially over October by more than 10 percent," Varun Berry, Managing Director said.
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Group Chairman Vivek Chaand Sehgal said Motherson Sumi recorded highest-ever quarterly revenue and best-ever net profit in Q3FY17. adding, the company looks to garner more from global units. For this, it plans to set up 9 new plants, of which 6 will be based globally, he said.
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Aluminium major Hindalco Industries turned profitable in the quarter ended December 2016, with net income at Rs 320.56 crore against loss of Rs 32.49 crore in year-ago quarter, aided by strong operational performance as well as low base.
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Loan growth would be a disappointment as compared to investors' expectations and return on equity visibility beyond 12-14 percent by FY2019 still poses as a challenge, the brokerage house says. Kotak has increased target price to Rs 170 from Rs 160.
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Idea said in an effort to retain its existing mobile subscribers, it was forced to reduce on sequential quarterly basis its voice rates by 10.6 percent to 29.6 paisa per minute from 33.1 paisa in Q2FY17 and drop mobile data rates by 15.2 percent to 15.9 paisa per megabyte against 18.7 paisa in previous quarter.
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Engineering business grew by 6.3 percent year-on-year to Rs 922.5 crore but traded goods segment registered a degrowth of 47.3 percent at Rs 69 crore in the quarter gone by.
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Telecom operator Idea Cellular's third quarter earnings are expected to be weak, impacted by demonetisation and Reliance Jio's free offer. It is expected to post loss of Rs 445 crore against profit of Rs 91.5 crore in previous quarter.
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Higher sales volumes (up 3.6 percent at 143 million tonnes) and e-auction sales volumes (up 76.9 percent at 26 million tonnes) may support topline but weak FSA (fuel supply agreement) volumes and flat blended realisations despite price hikes may cap topline growth.
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Tata Power Company's third quarter profit on consolidated basis shot up 38.3 percent year-on-year to Rs 599 crore despite weak operational income and revenue, driven by improved performance of key Indian subsidiaries & coal companies coupled with a favourable tax credit.
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Public sector lender Bank of Baroda turned profitable in October-December quarter, with net income at Rs 252.67 crore against big loss of Rs 3,342.04 crore in same quarter last year due to sharp fall in provisions.
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Overall asset quality was stable, though slightly weakened. Gross non-performing assets as a percentage of gross advances increased 9 basis points to 7.23 percent and net NPAs rose 5 basis points to 4.24 percent compared with previous quarter.
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Net interest income, the difference between interest earned and interest expended, may grow 24.2 percent to Rs 3,360 crore against Rs 2,705.3 crore on yearly basis, according to average of estimates of analysts polled by CNBC-TV18.
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Analysts expect sharp earnings growth on a low base in year-ago quarter and loan growth to fall sharply to 5-6 percent in Q3.
