Britannia Industries Ltd.'s third quarter profit declined on account of a one-time gain in the base quarter but met analysts' estimates.
The consolidated net profit of the Marie Gold biscuit-maker fell 40.4% over the previous year to Rs 555.6 crore in the October-December quarter, according to an exchange filing on Wednesday. That compares with the Rs 552.8-crore consensus estimate of analysts tracked by Bloomberg.
Adani Transmission Ltd, Godawari Power & Ispat Ltd, Morepen Laboratories Ltd and Indo Count Industries Ltd are among the other losers in the BSE s A group today, 09 March 2021.
Adani Transmission Ltd, Godawari Power & Ispat Ltd, Morepen Laboratories Ltd and Indo Count Industries Ltd are among the other losers in the BSE s A group today, 09 March 2021.
MMTC Ltd lost 8.08% to Rs 41.55 at 14:48 IST.The stock was the biggest loser in the BSE s A group.On the BSE, 5.39 lakh shares were traded on the counter so far as against the average daily volumes of 15.07 lakh shares in the past one month.
Adani Transmission Ltd tumbled 6.55% to Rs 741. The stock was the second biggest loser in A group.On the BSE, 39569 shares were traded on the counter so far as against the average daily volumes of 1.16 lakh shares in the past one month.
What is your view on commodities and steel majors in particular?
Whether it is the main companies like Tata Steel which is integrated or the midcap companies like SAIL or maybe Godavari Power which are integrated, a lot of these companies are going to come with significantly better numbers for this quarter as well as for the March quarter.
The only negative which could happen for the sector could be the duties which have been imposed. Those could be reduced because Mr Gadkari has been talking about supernormal profit being made by the sector. Secondly, one has to look at the data of exports from China. Right now, China seems to be importing a lot of billets and that is leading to a lot of demand for steel and for that particular reason, the sector will continue to do well.