ICICI Lombard, L&T Technology, Mahindra CIE stocks slip after Q1 numbers

Shares of ICICI Lombard, L&T Technology Services, Mahindra CIE, L&T Finance Holdings were trading lower in the range of 3-8%, however, Avanti Feeds rose post Q1 numbers.

Jul 22, 2019 02:07 IST India Infoline News Service

High angle view of two business executives working at the stock exchange
Shares of ICICI Lombard, L&T Technology Services, Mahindra CIE, L&T Finance Holdings were trading lower in the range of 3-8%, however, Avanti Feeds rose post Q1 numbers.

Shares of Avanti Feeds zoomed 6.5% after the company's Q1 net profit rose 12.9% to Rs92.96cr and 5.1% rise in the net sales to Rs1,093.49cr in Q1FY20.

However, shares of ICICI Lombard General Insurance Company is trading 3.5% lower on the BSE. The company’s net profit increased by 7% to Rs309.81cr in the quarter ended June 2019 as against Rs289.29cr during the previous quarter ended June 2018. 

Shares of L&T Technology Services were down 7% after the company announced its Q1 results. On a consolidated basis, it's net profit rose 6.48% to Rs203.9cr on a 0.33% rise in the net sales to Rs1,347.5cr in Q1 June 2019 over Q4 March 2019.

Shares of Mahindra CIE Automotive was down 8% after the company announced its Q1 June 2019 results after market hours on Friday. On a consolidated basis, the company’s net profit fell 9.1% to Rs126.22cr on a 3% rise in the net sales to Rs2,141.99cr in Q1FY20.

L&T Finance Holdings stock was down 2.6% on the BSE. The company’s net profit rose 1.9% to Rs548.79cr on a 16.4% rise in the total income to Rs3689.50cr in Q1.

Stock view:
L&T Technology Services Ltd is currently trading at Rs1,500.25, down by Rs106 or 6.6% from its previous closing of Rs1,606.25 on the BSE.

L&T Finance Holdings Ltd is currently trading at Rs107.40, down by Rs3 or 2.72% from its previous closing of Rs110.40 on the BSE.

Kaveri Seed Company Ltd is currently trading at Rs459.80, up by Rs13.8 or 3.09% from its previous closing of Rs446 on the BSE.

Mahindra CIE Automotive Ltd is currently trading at Rs190.35, down by Rs18.7 or 8.95% from its previous closing of Rs209.05 on the BSE.

Avanti Feeds Ltd is currently trading at Rs337.05, up by Rs24.05 or 7.68% from its previous closing of Rs313 on the BSE.

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