Q3FY19 results reaction: Tata Steel drop; Sun TV, Dilip Buildcon gain

Sun TV stocks were trading 8% up on Monday, while those of Tata Steel fell 1% post their respective earnings for the third quarter of FY19.

Feb 11, 2019 05:02 IST India Infoline News Service

stocks reaction
Shares of Sun TV were trading 8% up on Monday, while those of Tata Steel fell 1% post their respective earnings for the third quarter of FY19.

Sun TV Network zoomed 8% on the BSE in morning trade. The company’s revenue grew by 32.4% yoy and 20.7% qoq to Rs904.45cr. Adjusted PAT grew by 31.6% yoy and remained flat on qoq basis to Rs351.33cr.

Sun TV Network Ltd is currently trading at Rs567.90 up by Rs48.9 or 9.42% from its previous closing of Rs519 on the BSE. The scrip opened at Rs547.40 and has touched a high and low of Rs571.30 and Rs536 respectively.

Shares of Dilip Buildcon jumped 5% on the BSE in morning trade after the company reported Q3FY19 results beating estimates. The company’s net profit for the quarter grew by 26.4% yoy to Rs208.6cr against Rs165cr last year, beating the estimate of Rs167cr.

Dilip Buildcon Ltd is currently trading at Rs351.65 up by Rs15.95 or 4.75% from its previous closing of Rs335.70 on the BSE. The scrip opened at Rs335 and has touched a high and low of Rs359.95 and Rs331.35 respectively.

Shares of Tata Steel erased morning gains and were trading slightly down. The company’s results for Q3FY19 missed expectations due to a sharp fall in sales volumes and higher raw material costs. Its revenue increased by 24.5% yoy to Rs41,220cr (expectation Rs41,382cr).

Tata Steel Ltd is currently trading at Rs464.30 down by Rs15.75 or 3.28% from its previous closing of Rs480.05 on the BSE. The scrip opened at Rs472.65 and has touched a high and low of Rs480.45 and Rs462.70 respectively.

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