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5 Nifty stocks that impressed with their Q3 earnings
The Q3 earnings season has been much better than expected. Most of the big corporates, apart from State Bank of India have declared their Q3 numbers. Here are 5 stocks that impressed with their earnings.
Higher revenue guidance a big positive
Infosys delivered numbers that were above market expectations on the profitability and margin front. The management commentary was also buoyant, which saw the stock price hit a new 52-week high in Jan 2014. The company also revised its dollar revenue guidance upwards, which was a big positive.
GRMs beat expectations
Reliance Industries beat street expectations with its gross refining margins (GRMs) better than most estimates. Margin expansion in the petrochemical business and record earnings in the refining business, pushed profits to Rs 5502 crores. The retail business also showed stupendous growth.
Profits jump sharply
It was another quarter of superb performance from HCL Tech. Analysts did not expect the company's net profits to jump a staggering 28.7 per cent, which is why the stock hit a lifetime high last month.
Realisations improve
Bharti Airtel's net profits jumped by 115 per cent, led by growth in data revenues. Analysts did not see the company reporting a net profit of Rs 610 crores for the quarter ending Dec 13, 2013. Realisations were up after the company discontinued free minutes.
Profits rise; cautious on order book
L&T reported a 22.44 per cent in net profits to Rs 1,240.7 and the stock surged immediately after the results were declared. However, the company tempered expectations by lowering its guidance on the order book, citing economic headwinds.
