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JSW Energy and Godrej Consumer shares fell 10% after Q3 results missed estimates, India Cements shares rose nearly 5% despite posting a Q3 net loss, Brokerages keep 'Buy' ratings for JSW Energy, Godrej Consumer with growth potential

* JSW Energy and Godrej Consumer shares fell 10% after Q3 results missed estimates
* India Cements shares rose nearly 5% despite posting a Q3 net loss
* Brokerages keep 'Buy' ratings for JSW Energy, Godrej Consumer with growth potential

JSW Energy and Godrej Consumer Products shares fell about 10% after Q3 results missed analyst expectations, while India Cements shares rose nearly 5% as losses narrowed and revenue grew. Brokerages remain cautiously optimistic on future performance.

shorts/business/q3-results-impact-jsw-energy-godrej-consumer-products-shares-plunge-10-india-cements-up-5

* JSW Energy and Godrej Consumer shares fell 10% after Q3 results missed estimates
* India Cements shares rose nearly 5% despite posting a Q3 net loss
* Brokerages keep 'Buy' ratings for JSW Energy, Godrej Consumer with growth potential

The shares of JSW Energy and Godrej Consumer Products dropped around 10 percent each on January 27 after their respective results for the October-December quarter of the ongoing financial year 2026 failed to meet analysts’ expectations.

India Cements shares meanwhile jumped nearly 5 percent on Tuesday.
<h3><strong>JSW Energy Q3 Results:</strong></h3>
<a href="https://www.moneycontrol.com/india/stockpricequote/power-generationdistribution/jswenergy/JE01">JSW Energy</a> shares dropped to Rs 432.8 apiece, the lowest level seen by the stock since February 19 last year. This came after the company reported a consolidated net profit of Rs 419.94 crore, marking a 150 percent year-on-year (YoY) rise from Rs 167.83 crore net profit reported in the same quarter of the previous financial year.

The firm’s revenue from operations meanwhile grew more than 67 percent YoY to Rs 4,081 76 crore during the quarter under review.

JM Financial said that the firm’s results marked an “all-round miss”, with debt and execution remaining the pain points. It noted that the company’s management expressed concerns about transmission connectivity beyond 2027, which is a potential risk for aggressive RE expansion. “The company also has 29.6GWh of locked-in energy storage capacity (26.4GWh pumped hydro, 3.2GWh BESS). We cut down our FY28 EBITDA (-17%) and PAT (-52%) estimates factoring moderation in new RE capacity additions and rising interest expenses,” it said.

The domestic brokerage however estimates gradual improvement in key performance parameters as JSW Energy progresses in its vision of 30 GW by 2030; Net Debt/EBITDA (6.2x in FY25 to 5.8x in FY30), Gross block/MW (INR 46.7mn/MW in FY25 to INR 69.3mn/MW in FY30) and RoE (6.0% in FY26E to 7.4% by FY30).

JM Financial reduced its target price for the stock to Rs 614 apiece, implying an upside potential of 28.5 percent from the previous closing price, while maintaining its ‘Buy’ rating.

Motilal Financial Services also noted that the firm’s Q3 revenue missed its estimates primarily due to weaker than expected generation at Ratnagiri, Barmer and KSK Mahanadi plants. It reiterated its ‘Buy’ view on the stock, with a target price of Rs 590 apiece, implying an upside potential of 24 percent.
<h3><strong>Godrej Consumer Products Q3 Results:</strong></h3>
<a href="https://www.moneycontrol.com/india/stockpricequote/personal-care/godrejconsumerproducts/GCP">Godrej Consumer Products</a> shares dropped to Rs 1,117.10 apiece on Tuesday, the lowest level seen by the stock since early December last year. The company reported a consolidated net profit of Rs 498 crore, marking a marginal decline from the same period last year. The firm's revenue from operations meanwhile rose 9% YoY to Rs 4,099.12 crore.

JM Financial downgraded the stock to ‘Add’ from ‘Buy’, with a target price of Rs 1,355 apiece. This implies an upside potential of 9 percent over the stock’s previous closing price.

The domestic brokerage said that on the profitability front, gross margin may not materially change considering the shift in product mix, and improvement in EBITDA margin will be led by savings in media and other overheads. “Post the recent run-up (+12% in past 1 month) in stock price, NTM valuation of c.51x is closer to the long-term average and limits the upside,” it added.

“In India, we see GCPL logging a high single-digit revenue growth, supported by new actions (favorable season for Household Insecticides likely to aid double-digit growth). We believe India OPM will see gradual expansion, to the higher-end of the normative margin band of 24-26% by FY28E, aiding high-teens EBITDA growth over FY26-28E. Indonesia is likely to be a drag – we see gradual recovery in performance. Africa cluster is likely to see sales growth momentum slowing to a high single-digit, while EBITDA growth is likely to log at a low double digit,” said Emkay Global.
<h3><strong>The India Cements Q3 Results:</strong></h3>
<a href="https://www.moneycontrol.com/india/stockpricequote/cement-major/indiacements/IC">The India Cements</a> shares rose to Rs 452.70 apiece, after seeing some decline during the previous session following the release of its Q3 results. The Chennai-headquartered cement maker posted a standalone net loss of Rs 5.72 crore in Q3 FY26, compared to a net loss of Rs 409.38 crore a year earlier.

The firm’s revenue from operations meanwhile gained around 23.5 percent YoY to Rs 1,114.13 crore.

Motilal Oswal says India Cements is witnessing operational improvement under UltraTech's leadership with recovery in margins and steady improvement in capacity utilization. The brokerage expects the company’s revenue CAGR at 11 percent over FY25-28, led by a volume/realization CAGR of ~9%/2%.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-suggests-a-firm-opening-us-asian-markets-gain-liveblog-13790950.html">LIVE updates</a> from the stock markets here.

<em>(With inputs from agencies)</em>

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

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Q3 Results impact: JSW Energy, Godrej Consumer Products shares plunge 10%, India Cements up 5%

The shares of JSW Energy and Godrej Consumer Products dropped around 10 percent each on January 27 after their respective results for the October-December quarter of the ongoing financial year 2026 failed to meet analysts’ expectations.

India Cements shares meanwhile jumped nearly 5 percent on Tuesday.
JSW Energy Q3 Results:
JSW Energy shares dropped to Rs 432.8 apiece, the lowest level seen by the stock since February 19 last year. This came after the company reported a consolidated net profit of Rs 419.94 crore, marking a 150 percent year-on-year (YoY) rise from Rs 167.83 crore net profit reported in the same quarter of the previous financial year.

The firm’s revenue from operations meanwhile grew more than 67 percent YoY to Rs 4,081 76 crore during the quarter under review.

JM Financial said that the firm’s results marked an “all-round miss”, with debt and execution remaining the pain points. It noted that the company’s management expressed concerns about transmission connectivity beyond 2027, which is a potential risk for aggressive RE expansion. “The company also has 29.6GWh of locked-in energy storage capacity (26.4GWh pumped hydro, 3.2GWh BESS). We cut down our FY28 EBITDA (-17%) and PAT (-52%) estimates factoring moderation in new RE capacity additions and rising interest expenses,” it said.

The domestic brokerage however estimates gradual improvement in key performance parameters as JSW Energy progresses in its vision of 30 GW by 2030; Net Debt/EBITDA (6.2x in FY25 to 5.8x in FY30), Gross block/MW (INR 46.7mn/MW in FY25 to INR 69.3mn/MW in FY30) and RoE (6.0% in FY26E to 7.4% by FY30).

JM Financial reduced its target price for the stock to Rs 614 apiece, implying an upside potential of 28.5 percent from the previous closing price, while maintaining its ‘Buy’ rating.

Motilal Financial Services also noted that the firm’s Q3 revenue missed its estimates primarily due to weaker than expected generation at Ratnagiri, Barmer and KSK Mahanadi plants. It reiterated its ‘Buy’ view on the stock, with a target price of Rs 590 apiece, implying an upside potential of 24 percent.
Godrej Consumer Products Q3 Results:
Godrej Consumer Products shares dropped to Rs 1,117.10 apiece on Tuesday, the lowest level seen by the stock since early December last year. The company reported a consolidated net profit of Rs 498 crore, marking a marginal decline from the same period last year. The firm's revenue from operations meanwhile rose 9% YoY to Rs 4,099.12 crore.

JM Financial downgraded the stock to ‘Add’ from ‘Buy’, with a target price of Rs 1,355 apiece. This implies an upside potential of 9 percent over the stock’s previous closing price.

The domestic brokerage said that on the profitability front, gross margin may not materially change considering the shift in product mix, and improvement in EBITDA margin will be led by savings in media and other overheads. “Post the recent run-up (+12% in past 1 month) in stock price, NTM valuation of c.51x is closer to the long-term average and limits the upside,” it added.

“In India, we see GCPL logging a high single-digit revenue growth, supported by new actions (favorable season for Household Insecticides likely to aid double-digit growth). We believe India OPM will see gradual expansion, to the higher-end of the normative margin band of 24-26% by FY28E, aiding high-teens EBITDA growth over FY26-28E. Indonesia is likely to be a drag – we see gradual recovery in performance. Africa cluster is likely to see sales growth momentum slowing to a high single-digit, while EBITDA growth is likely to log at a low double digit,” said Emkay Global.
The India Cements Q3 Results:
The India Cements shares rose to Rs 452.70 apiece, after seeing some decline during the previous session following the release of its Q3 results. The Chennai-headquartered cement maker posted a standalone net loss of Rs 5.72 crore in Q3 FY26, compared to a net loss of Rs 409.38 crore a year earlier.

The firm’s revenue from operations meanwhile gained around 23.5 percent YoY to Rs 1,114.13 crore.

Motilal Oswal says India Cements is witnessing operational improvement under UltraTech's leadership with recovery in margins and steady improvement in capacity utilization. The brokerage expects the company’s revenue CAGR at 11 percent over FY25-28, led by a volume/realization CAGR of ~9%/2%.

Follow all LIVE updates from the stock markets here.

(With inputs from agencies)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

DCB Bank shares hit 52-week high after 22% profit rise in December quarter., MCX shares jumped over 6 percent after 150% surge in quarterly net profit., Brokerages turned positive on both stocks following strong earnings reports.

* DCB Bank shares hit 52-week high after 22% profit rise in December quarter.
* MCX shares jumped over 6 percent after 150% surge in quarterly net profit.
* Brokerages turned positive on both stocks following strong earnings reports.

DCB Bank and MCX shares rose up to 7% after strong December quarter earnings. DCB Bank’s net profit jumped 22%, asset quality improved, and MCX’s net profit surged 150%. Brokerages remain positive, citing growth and robust trading volumes.

shorts/business/q3-results-impact-dcb-bank-shares-hit-6-year-high-on-positive-earnings-mcx-rises-6-on-150-jump-in-net-profit

* DCB Bank shares hit 52-week high after 22% profit rise in December quarter.
* MCX shares jumped over 6 percent after 150% surge in quarterly net profit.
* Brokerages turned positive on both stocks following strong earnings reports.

Shares of DCB Bank and Multi Commodity Exchange of India (MCX) rose up to 7 percent in on Tuesday after brokerages turned positive following strong December quarter earnings.

<a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/dcbbank/DCB01">DCB Bank</a> shares touched a fresh 52-week high after the private sector lender reported a 22 percent rise in net profit at Rs 185 crore for the December 2025 quarter, compared with Rs 151 crore in the year-ago period.

The stock rose as much as 8.26 percent to an intraday high of Rs 198 apiece, its highest level since January 2020. It had opened 3.06 percent higher.

Net interest income grew to Rs 625 crore from Rs 543 crore a year ago, while non-interest income increased to Rs 221 crore from Rs 184 crore. Provisions stood at Rs 74 crore, up from Rs 67 crore in the corresponding quarter last year.

On the asset quality front, the gross non-performing assets ratio improved to 2.72 percent from 2.99 percent a year ago. Capital adequacy ratio was at 15.84 percent as of December 31, 2025, with core equity tier-I at 13.45 percent.

IDBI Capital said the outlook for the bank remains constructive, supported by balance sheet growth, improving asset quality and a focus on consistency. Elara Capital, however, pointed to structural limitations to return ratios, pegging return on equity at 12-13 percent in FY27.

Meanwhile, <a href="https://www.moneycontrol.com/india/stockpricequote/miscellaneous/multicommodityexchangeindia/MCE">MCX</a> shares climbed over 6 percent to Rs 2,429 apiece, snapping a five-day losing streak. The stock had opened 4.51 percent higher.

The commodities exchange reported a 150 percent year-on-year jump in consolidated net profit for the December quarter, while consolidated income rose about 21 percent.

UBS maintained a ‘buy’ rating on the stock with a price target of Rs 2,400, citing robust trading volumes and operating leverage as key drivers of the strong quarterly performance.

<em><strong>Disclaimer:</strong> The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.</em>

A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

Q3 results impact: DCB Bank shares hit 6-year high on positive earnings, MCX rises 6% on 150% jump in net profit

Shares of DCB Bank and Multi Commodity Exchange of India (MCX) rose up to 7 percent in on Tuesday after brokerages turned positive following strong December quarter earnings.

DCB Bank shares touched a fresh 52-week high after the private sector lender reported a 22 percent rise in net profit at Rs 185 crore for the December 2025 quarter, compared with Rs 151 crore in the year-ago period.

The stock rose as much as 8.26 percent to an intraday high of Rs 198 apiece, its highest level since January 2020. It had opened 3.06 percent higher.

Net interest income grew to Rs 625 crore from Rs 543 crore a year ago, while non-interest income increased to Rs 221 crore from Rs 184 crore. Provisions stood at Rs 74 crore, up from Rs 67 crore in the corresponding quarter last year.

On the asset quality front, the gross non-performing assets ratio improved to 2.72 percent from 2.99 percent a year ago. Capital adequacy ratio was at 15.84 percent as of December 31, 2025, with core equity tier-I at 13.45 percent.

IDBI Capital said the outlook for the bank remains constructive, supported by balance sheet growth, improving asset quality and a focus on consistency. Elara Capital, however, pointed to structural limitations to return ratios, pegging return on equity at 12-13 percent in FY27.

Meanwhile, MCX shares climbed over 6 percent to Rs 2,429 apiece, snapping a five-day losing streak. The stock had opened 4.51 percent higher.

The commodities exchange reported a 150 percent year-on-year jump in consolidated net profit for the December quarter, while consolidated income rose about 21 percent.

UBS maintained a ‘buy’ rating on the stock with a price target of Rs 2,400, citing robust trading volumes and operating leverage as key drivers of the strong quarterly performance.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

<strong>Q3 Results LIVE:</strong> Around 59 companies are announcing their results for the October-December quarter of the ongoing financial year 2026 today. Some of the notable names among them include Asian Paints, Bikaji Foods International, Bondada Engineering, Dodla Dairy, Emkay Global Financial Services, Gopal Snacks, Vodafone Idea, International Gemmological Institute India, Marico, Metro Brands, Motilal Oswal Financial Services, PC Jeweller, Raymond, Raymond Lifestyle, Raymond Realty, Spandana Sphoorty Financial, Tata Consumer Products, Vishal Mega Mart and WeWork India Management.

Asian Paints Q3 Results LIVE: Net profit falls 5% to Rs 1,060 crore on one-time costs, shares down 4%

Live Blog

Q3 Results LIVE: Around 59 companies are announcing their results for the October-December quarter of the ongoing financial year 2026 today. Some of the notable names among them include Asian Paints, Bikaji Foods International, Bondada Engineering, Dodla Dairy, Emkay Global Financial Services, Gopal Snacks, Vodafone Idea, International Gemmological Institute India, Marico, Metro Brands, Motilal Oswal Financial Services, PC Jeweller, Raymond, Raymond Lifestyle, Raymond Realty, Spandana Sphoorty Financial, Tata Consumer Products, Vishal Mega Mart and WeWork India Management.

UltraTech Cement shares jumped nearly 4 percent after strong Q3 results, Q3 net profit up 27% YoY to Rs 1,725.40 crore; revenue rose 23% YoY, Brokerages maintain 'Buy' ratings with target prices up to Rs 15,210 per share

* UltraTech Cement shares jumped nearly 4 percent after strong Q3 results
* Q3 net profit up 27% YoY to Rs 1,725.40 crore; revenue rose 23% YoY
* Brokerages maintain 'Buy' ratings with target prices up to Rs 15,210 per share

UltraTech Cement shares rose nearly 4% after strong Q3 results, with net profit up 27% YoY and revenue up 23%. Brokerages remain bullish, citing robust demand, expansion plans, and price hikes, with target prices up to Rs 15,210 per share.

shorts/business/ultratech-cement-shares-jump-4-as-q3-results-beat-estimates-check-latest-target-prices

* UltraTech Cement shares jumped nearly 4 percent after strong Q3 results
* Q3 net profit up 27% YoY to Rs 1,725.40 crore; revenue rose 23% YoY
* Brokerages maintain 'Buy' ratings with target prices up to Rs 15,210 per share

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/cement-major/ultratechcement/UTC01">UltraTech Cement</a> jumped nearly 4 percent on January 27 after the company released better than expected results for the October-December quarter of the ongoing financial year 2026. Brokerages have issued bullish calls for the stock.

The shares of the cement-maker jumped to Rs 12,825.00 apiece in the morning trading hours of Tuesday. This is the highest level seen by the stock since early September last year.
<h3><strong>UltraTech Cement Q3 Results:</strong></h3>
UltraTech Cement on January 24 reported a consolidated net profit of Rs 1,725.40 crore attributable to the firm’s owners for the third quarter of the ongoing financial year 2025. This marks a 27 percent year-on-year (YoY) rise from the Rs 1,359.43 crore net profit reported in Q3 FY25.

Notably, the net profit reported during the quarter included an exceptional item of Rs 88.48 crore due to the one-time impact of the New Labour Codes which took effect from November 21.

The firm’s revenue from operations meanwhile grew around 23 percent YoY to Rs 21,829.68 crore in Q3 FY26, from Rs 17,778.83 crore in Q3 FY25. Its consolidated sales volumes grew 15 percent to 38.87 mtpa during the quarter under review.
<h3><strong>JM Financial on UltraTech Cement:</strong></h3>
JM Financial said that UltraTech Cement reported a strong Q3 FY26 earnings performance with consolidated EBITDA rising 35 percent YoY to Rs 3,920 crore, beating its estimates primarily due to lower-than-estimated cost/tn.

“Management highlighted robust demand momentum is likely to sustain supported by infra projects. The industry has taken price hikes in Jan’26 and anticipates further price hike likely supported by improving demand. We argue UltraTech is poised for structural improvement in return ratios over the next three–four years owing to: i) rising asset turnover; ii) low cost of expansion; and iii) improving profitability. Factoring in the 3Q performance and improving demand/pricing, we are increasing EBITDA by 6% for FY26E and 1–3% for FY27E–28E,” the brokerage said.

It maintained its ‘Buy’ rating on the stock, while raising its target price to Rs 14,500 apiece. This implies an upside potential of more than 17 percent from the stock’s previous closing price.
<h3><strong>Choice Broking on UltraTech Cement:</strong></h3>
Choice Institutional Equities said that it continues to remain positive on UltraTech Cement due to ambitious and continuous capacity expansion plan to add 8 mnt of capacity in Q4 FY26, and 12 mnt in FY27, funding expansion outlay largely via internal accruals, proactive cost-optimisation strategy, favourable sectoral pricing environment and significant demand growth in expected from the southern market.

The domestic brokerage maintained its ‘Buy’ rating on the stock, with a target price of Rs 15,210 apiece. This implies an upside potential of nearly 23 percent from the stock’s previous closing price.
<h3><strong>Motilal Oswal on UltraTech Cement:</strong></h3>
Motilal Oswal said that UltraTech Cement’s Q3 FY26 EBITDA was above its estimate, led by higher-than-estimated volume growth and lower-than-estimated opex/t. “Management indicated a positive demand outlook, highlighting a multi-year infrastructure pipeline across all regions, led by roads, metros, railways, ports, airports and housing segments,” the brokerage noted.

“We largely maintain our FY26 EBITDA estimate and raise FY27/28 EBITDA estimates by 4% each, considering high volume growth vs. previous estimates. We increase our FY27/28 EPS estimates by ~5% each. We value UTCEM at 18x FY28E EV/EBITDA to arrive at a TP of INR14,200. Reiterate BUY,” it added.
<h3><strong>UltraTech Cement share price:</strong></h3>
UltraTech Cement shares have gained more than 7 percent in the past one month, and over 6 percent in 2026 so far.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-suggests-a-firm-opening-us-asian-markets-gain-liveblog-13790950.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

UltraTech Cement shares jump 4% as Q3 results beat estimates: Check latest target prices

The shares of UltraTech Cement jumped nearly 4 percent on January 27 after the company released better than expected results for the October-December quarter of the ongoing financial year 2026. Brokerages have issued bullish calls for the stock.

The shares of the cement-maker jumped to Rs 12,825.00 apiece in the morning trading hours of Tuesday. This is the highest level seen by the stock since early September last year.
UltraTech Cement Q3 Results:
UltraTech Cement on January 24 reported a consolidated net profit of Rs 1,725.40 crore attributable to the firm’s owners for the third quarter of the ongoing financial year 2025. This marks a 27 percent year-on-year (YoY) rise from the Rs 1,359.43 crore net profit reported in Q3 FY25.

Notably, the net profit reported during the quarter included an exceptional item of Rs 88.48 crore due to the one-time impact of the New Labour Codes which took effect from November 21.

The firm’s revenue from operations meanwhile grew around 23 percent YoY to Rs 21,829.68 crore in Q3 FY26, from Rs 17,778.83 crore in Q3 FY25. Its consolidated sales volumes grew 15 percent to 38.87 mtpa during the quarter under review.
JM Financial on UltraTech Cement:
JM Financial said that UltraTech Cement reported a strong Q3 FY26 earnings performance with consolidated EBITDA rising 35 percent YoY to Rs 3,920 crore, beating its estimates primarily due to lower-than-estimated cost/tn.

“Management highlighted robust demand momentum is likely to sustain supported by infra projects. The industry has taken price hikes in Jan’26 and anticipates further price hike likely supported by improving demand. We argue UltraTech is poised for structural improvement in return ratios over the next three–four years owing to: i) rising asset turnover; ii) low cost of expansion; and iii) improving profitability. Factoring in the 3Q performance and improving demand/pricing, we are increasing EBITDA by 6% for FY26E and 1–3% for FY27E–28E,” the brokerage said.

It maintained its ‘Buy’ rating on the stock, while raising its target price to Rs 14,500 apiece. This implies an upside potential of more than 17 percent from the stock’s previous closing price.
Choice Broking on UltraTech Cement:
Choice Institutional Equities said that it continues to remain positive on UltraTech Cement due to ambitious and continuous capacity expansion plan to add 8 mnt of capacity in Q4 FY26, and 12 mnt in FY27, funding expansion outlay largely via internal accruals, proactive cost-optimisation strategy, favourable sectoral pricing environment and significant demand growth in expected from the southern market.

The domestic brokerage maintained its ‘Buy’ rating on the stock, with a target price of Rs 15,210 apiece. This implies an upside potential of nearly 23 percent from the stock’s previous closing price.
Motilal Oswal on UltraTech Cement:
Motilal Oswal said that UltraTech Cement’s Q3 FY26 EBITDA was above its estimate, led by higher-than-estimated volume growth and lower-than-estimated opex/t. “Management indicated a positive demand outlook, highlighting a multi-year infrastructure pipeline across all regions, led by roads, metros, railways, ports, airports and housing segments,” the brokerage noted.

“We largely maintain our FY26 EBITDA estimate and raise FY27/28 EBITDA estimates by 4% each, considering high volume growth vs. previous estimates. We increase our FY27/28 EPS estimates by ~5% each. We value UTCEM at 18x FY28E EV/EBITDA to arrive at a TP of INR14,200. Reiterate BUY,” it added.
UltraTech Cement share price:
UltraTech Cement shares have gained more than 7 percent in the past one month, and over 6 percent in 2026 so far.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Kotak Mahindra Bank shares drop 5% after Q3 earnings miss estimates, Q3 net profit rose 4% YoY to Rs 3,446 crore, below expected Rs 3,572 crore, Brokerages cut forecasts but maintain 'Buy' calls with target prices near Rs 500

* Kotak Mahindra Bank shares drop 5% after Q3 earnings miss estimates
* Q3 net profit rose 4% YoY to Rs 3,446 crore, below expected Rs 3,572 crore
* Brokerages cut forecasts but maintain 'Buy' calls with target prices near Rs 500

Kotak Mahindra Bank shares fell over 5% after Q3 FY26 results missed estimates. Net profit rose 4% YoY, but margins declined. Brokerages cut forecasts yet remain positive, citing strong loan growth and asset quality. Target prices suggest potential upside.

shorts/business/kotak-mahindra-bank-shares-tumble-5-after-q3-results-miss-estimates-should-you-buy-sell-or-hold

* Kotak Mahindra Bank shares drop 5% after Q3 earnings miss estimates
* Q3 net profit rose 4% YoY to Rs 3,446 crore, below expected Rs 3,572 crore
* Brokerages cut forecasts but maintain 'Buy' calls with target prices near Rs 500

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/kotakmahindrabank/KMB">Kotak Mahindra Bank</a> tumbled more than 5 percent on January 27 after the company released its results for the October-December quarter of the ongoing financial year 2026. Brokerages have mixed views for the stock, with some cutting forecasts after the lender’s earnings missed estimates.

The shares of the heavyweight lender dropped to Rs 400.5 apiece, recording the sharpest single-day fall since July 2025.
<h3><strong>Kotak Mahindra Q3 Results:</strong></h3>
Kotak Mahindra Bank on January 24 reported a standalone net profit of Rs 3,446.14 crore for Q3 FY26. This marks a 4 percent year-on-year increase from the Rs 3,305 crore net profit reported in the same quarter of the previous financial year.

The <a href="https://www.moneycontrol.com/news/business/earnings/kotak-bank-profit-rise-4-2-misses-analyst-estimate-13789512.html">bank's results</a> missed estimates, as analysts had expected a profit of Rs 3,572 crore, according to data compiled by LSEG.

Net Interest Income (NII) increased more than 5 percent YoY to Rs 7,565 crore during the quarter under review, from Rs 7,196 crore a year ago. However, net interest margin (NIM) declined to 4.54 percent from 4.93 percent in the third quarter of the previous financial year.

Asset quality slightly improved sequentially, with gross non-performing asset (NPA) ratio moderating to 1.30 percent as on December 31, 2025, from 1.50 percent a year ago. Net NPA also eased to 0.31 per cent from 0.41 per cent at the end of December 2024.
<h3><strong>HDFC Securities on Kotak Mahindra Bank:</strong></h3>
HDFC Securities noted that Kotak Mahindra Bank’s Q3 earnings were below estimates, as flattish margins, soft traction in fee income, and relatively high opex intensity was partly offset by higher growth on both sides of the balance sheet.

“Healthy loan growth (16% YoY) was driven by mortgages, business banking, SME segments. Deposit growth (~14% YoY) was strong with CASA ratio at 41.3% (-101bps QoQ) and softer than usual traction in CA balances. While the stress in unsecured segments has largely abated, stress in retail CV segment remains elevated. We are constructive on KMB, expecting growth momentum to sustain in RoA-accretive segments such as LAP, CV/CE, tractors, business banking, and SME, concomitantly reshaping its unsecured segment strategy,” the domestic brokerage said.

It cut the lender’s FY26E/FY27E earnings forecasts by 5/2 percent, factoring in softer margins and fee income. It maintained its ‘Buy’ rating for the stock, with a target price of Rs 495 apiece, implying an upside potential of more than 17 percent from the stock’s previous closing price.

While growth is picking up, higher opex was seen after four quarters of managing it well, noted CLSA. Emkay meanwhile expects Kotak Mahindra Bank to report a relatively moderate RoA of 1.9 percent in FY26E, albeit with an improvement to 2 percent in FY27/FY28E as margins and loss -loss provisions normalize
<h3><strong>Motilal Oswal on Kotak Mahindra Bank:</strong></h3>
Motilal Oswal said the lender’s NII and other income stood largely in line with its estimates. Operating expenses came in higher than anticipated, while provisions were lower than estimates.

“The decline in the unsecured portfolio has now been arrested, and the bank has reiterated its guidance for stronger growth in the coming quarters, which should also support margins. Overall loan growth is guided at 1.5-2.0x nominal GDP, driven by stable momentum in retail and unsecured segments. Given the continued growth traction, we believe the bank is well positioned to deliver a healthy ~16% loan CAGR over FY26-28E,” the domestic brokerage said.

Motilal maintained its earnings estimate, along with a ‘Buy’ call on the stock with a target price of Rs 500 apiece. This implies an upside potential of more than 18 percent from the stock’s previous closing price.
<h3><strong>Kotak Mahindra Bank share price:</strong></h3>
Kotak Mahindra Bank shares have fallen more than 5 percent in the past one month, but gained around 4 percent in the past six months.

The stock which currently has a P/E ratio of 22.50, is currently the top loser on benchmark indices Sensex and Nifty, as well as the Nifty Bank index.

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Kotak Mahindra Bank shares tumble 5% after Q3 results miss estimates: Should you buy, sell or hold?

The shares of Kotak Mahindra Bank tumbled more than 5 percent on January 27 after the company released its results for the October-December quarter of the ongoing financial year 2026. Brokerages have mixed views for the stock, with some cutting forecasts after the lender’s earnings missed estimates.

The shares of the heavyweight lender dropped to Rs 400.5 apiece, recording the sharpest single-day fall since July 2025.
Kotak Mahindra Q3 Results:
Kotak Mahindra Bank on January 24 reported a standalone net profit of Rs 3,446.14 crore for Q3 FY26. This marks a 4 percent year-on-year increase from the Rs 3,305 crore net profit reported in the same quarter of the previous financial year.

The bank's results missed estimates, as analysts had expected a profit of Rs 3,572 crore, according to data compiled by LSEG.

Net Interest Income (NII) increased more than 5 percent YoY to Rs 7,565 crore during the quarter under review, from Rs 7,196 crore a year ago. However, net interest margin (NIM) declined to 4.54 percent from 4.93 percent in the third quarter of the previous financial year.

Asset quality slightly improved sequentially, with gross non-performing asset (NPA) ratio moderating to 1.30 percent as on December 31, 2025, from 1.50 percent a year ago. Net NPA also eased to 0.31 per cent from 0.41 per cent at the end of December 2024.
HDFC Securities on Kotak Mahindra Bank:
HDFC Securities noted that Kotak Mahindra Bank’s Q3 earnings were below estimates, as flattish margins, soft traction in fee income, and relatively high opex intensity was partly offset by higher growth on both sides of the balance sheet.

“Healthy loan growth (16% YoY) was driven by mortgages, business banking, SME segments. Deposit growth (~14% YoY) was strong with CASA ratio at 41.3% (-101bps QoQ) and softer than usual traction in CA balances. While the stress in unsecured segments has largely abated, stress in retail CV segment remains elevated. We are constructive on KMB, expecting growth momentum to sustain in RoA-accretive segments such as LAP, CV/CE, tractors, business banking, and SME, concomitantly reshaping its unsecured segment strategy,” the domestic brokerage said.

It cut the lender’s FY26E/FY27E earnings forecasts by 5/2 percent, factoring in softer margins and fee income. It maintained its ‘Buy’ rating for the stock, with a target price of Rs 495 apiece, implying an upside potential of more than 17 percent from the stock’s previous closing price.

While growth is picking up, higher opex was seen after four quarters of managing it well, noted CLSA. Emkay meanwhile expects Kotak Mahindra Bank to report a relatively moderate RoA of 1.9 percent in FY26E, albeit with an improvement to 2 percent in FY27/FY28E as margins and loss -loss provisions normalize
Motilal Oswal on Kotak Mahindra Bank:
Motilal Oswal said the lender’s NII and other income stood largely in line with its estimates. Operating expenses came in higher than anticipated, while provisions were lower than estimates.

“The decline in the unsecured portfolio has now been arrested, and the bank has reiterated its guidance for stronger growth in the coming quarters, which should also support margins. Overall loan growth is guided at 1.5-2.0x nominal GDP, driven by stable momentum in retail and unsecured segments. Given the continued growth traction, we believe the bank is well positioned to deliver a healthy ~16% loan CAGR over FY26-28E,” the domestic brokerage said.

Motilal maintained its earnings estimate, along with a ‘Buy’ call on the stock with a target price of Rs 500 apiece. This implies an upside potential of more than 18 percent from the stock’s previous closing price.
Kotak Mahindra Bank share price:
Kotak Mahindra Bank shares have fallen more than 5 percent in the past one month, but gained around 4 percent in the past six months.

The stock which currently has a P/E ratio of 22.50, is currently the top loser on benchmark indices Sensex and Nifty, as well as the Nifty Bank index.

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Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

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