Wipro appoints Michael Seiger as the Country Head for Germany and Austria. Torrent Pharma recorded a higher consolidated profit at Rs297cr in Q3FY21 against Rs251cr in Q3FY20; revenue increased to Rs1,995cr from Rs1,966cr yoy. NMDC registered sharply higher profit at Rs2,108cr in Q3FY21 against Rs1,375cr in Q3FY20, and revenue jumped to Rs4,355.1cr from Rs3,006.4cr yoy. Jindal Stainless (Hisar) Dec 2020 quarter: PAT and EBITDA of the company stood at Rs190cr and Consistent focus on deleveraging helped bring down the finance cost by 23% over CPLY. Tata Steel will announce its quarterly financial results on Tuesday.
Anand Rathi Torrent Pharma (Buy)Target: ₹3,195CMP: ₹2,593.05Impacted by product discontinuation in its US business and the lockdown in LATAM, Torrent Pharmaceuticals’ Q3-FY21 sales grew only 1.5 per c
Stocks to Watch: Future Retail, BPCL, Essar Shipping, Torrent Pharma, GE Power
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Here is a list of top 10 stocks that could be in focus on Tuesday:
Future Retail: The Delhi High Court on Monday quashed an order that halted Future Group’s ₹24,713 crore deal to sell its assets to Reliance Industries Ltd, dealing a blow to Amazon.com Inc.’s efforts to block the sale.
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Shares of Torrent Pharmaceuticals dipped 8 per cent to Rs 2,545 on the BSE on Tuesday after the company reported its December quarter (Q3FY21) results, with flat consolidated revenue growth at Rs 1,995 crore, mainly due to 23.4 per cent year on year (YoY) decline in US formulations to Rs 292 crore.
The company said that the US sales was impacted by price erosion on base business & base impact of Sartan portfolio discontinuation. However, domestic revenues grew 7 per cent YoY at Rs 930 crore driven by market recovery, continued momentum in chronic brands & strong recovery in sub‐chronic brands, it said. Brazil de-grew 8.5 per cent YoY to Rs 173 crore. Germany business grew a robust 21.0 per cent YoY to Rs 265 crore.
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Welcome to ETMarkets Watch, the show about stocks, market trends and money-making ideas. I am Nikhil Agarwal and here are the top headlines at this hour.
Equity MFs see outflow for 7th straight month in Jan
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