A host of stocks were in action ahead of December quarter results. Shares of Hindustan Unilever (HUL) , Asian Paints and PVR were among stocks that declined ahead of quarterly earnings. At 10 am, shares of Hindustan Zinc were trading 2 per cent higher at Rs 368.25 on BSE. Centrum Broking sees this company to report a 23 per cent YoY drop in December quarter profit on a 2.4 per cent YoY drop in sales at Rs 7,798 crore. PVR fell 1.11 per cent to Rs 1,651.25. PVR is seen reporting a profit in December quarter against a loss in the year-ago quarter.
Shares of HUL declined 1.28 per cent to Rs 2,652.30. The FMCG major is seen reporting a 8-12 per cent year-on-year (YoY) rise in net profit for the December quarter on a 12-14 per cent YoY rise in revenues, largely led by price increases. Volume growth is seen at 5 per cent YoY. The FMCG major may report a fall in margins on a YoY basis, analysts said.
Investors would be awaiting management commentary on improvement in rural business, recovery in personal care, pricing actions and new launches strategy and sustainability of cost-saving initiatives, analysts said.
Asian Paints edged 0.22 per cent lower at Rs 2,939.50. Mphasis rose 0.45 per cent to Rs 2,056.85. Motilal Oswal expects adjusted profit for Asian Paints rising 18.1 per cent YoY to Rs 1,218 crore for the December quarter. It sees sales rising 9 per cent YoY to Rs 9,295 crore. Margin is seen at 19.5 per cent. The brokerage expects Asian Paints to report 9 per cent YoY sales growth with 5 per cent domestic decorative segment volume growth.
L&T Technology Services, Havells India, ICICI Securities, Happiest Minds Technologies, IndiaMART InterMESH, AU Small Finance Bank, Can Fin Homes and Polycab India were among dozens of companies that would be reporting their quarterly results later today.
L&T Technology Services was down 1.01 per cent at Rs 3,386. Havells India edged 0.11 per cent higher at Rs 1,204.40. ICICI Securities rose 0.18 per cent to Rs 512.30. Happiest Minds Technologies was flat. IndiaMART InterMESH slipped 0.60 per cent to Rs 4,482.15. Shares of Polycab India, AU Small Finance Bank and Can Fin Homes edged lower.
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