Tata Motors shares witnessed a steep decline of 8-9% following the announcement of disappointing March quarter earnings. The company’s market capitalization dropped significantly, impacting both BSE Sensex and NSE Nifty firms. Tata Motors’ weak sales outlook for commercial vehicles and Jaguar’s contracting order book further contributed to investor concerns.
Dr Reddy’s Laboratories reported a 36% year-over-year increase in net profit for Q4, but the share price dropped 5% today. The company saw a 3% sequential decrease in net profit, and brokerages attributed the strong gross margin and operational performance to Revlimid sales. Analysts project that upcoming R&D costs and a weak US launch pipeline may impact the company’s earnings growth and EBITDA margin in the coming fiscal year.
Route Mobile’s share price witnessed a decline of almost 5% on May 7th due to a 9% drop in its Q4 profits, which fell to ₹ 95 crore compared to ₹ 104.05 crore during the same period last year. On the BSE, the share price opened at ₹ 1,486.55 and fluctuated between an intraday low of ₹ 1,460.55 and a high of ₹ 1,500.40.
Rekha Jhunjhunwala, wife of late investor Rakesh Jhunjhunwala, witnessed a significant decline in the value of her investments in Titan Company. The company’s stock price plummeted by over 5% after reporting its Q4 results, leading to a notional loss of over ₹800 crore for Rekha Jhunjhunwala. Despite holding a 5.35% stake in Titan, her investment value has dropped to ₹15,986 crore, down from ₹16,792 crore previously.
ICICI Prudential Life Insurance Company’s Q4 results led to a significant decline in its share price, falling over 6%. The company reported a 26% drop in net profit, primarily due to a decline in Value of New Business (VNB) and VNB margin. Despite a rise in net premium income, the lower margins impacted the overall performance. Several brokerages have adjusted their earnings estimates for ICICI Prudential, with some maintaining ‘Buy’ ratings and revised target prices.
