Maruti Suzuki Jumps Over 4% On Q3 Beat

Shares of Maruti Suzuki India Ltd. rose over 4.4% in intraday trade to Rs 8,408.95 apiece after the company reported net income for the third quarter that beat the average analyst estimate.

Third Quarter Results (Standalone, YoY)

• Revenue down 1% at Rs 23,246 crore Vs Rs 23,457.8 crore (Bloomberg Consensus estimate : Rs 23,261.5 crore)
• Net profit down 48% to Rs 1,011.3 crore from Rs 1,941.4 crore (Estimate : Rs 913.4 crore Profit)
• EBITDA down 30% to Rs 1,559 crore from Rs 2,226.1 crore (Estimate : Rs 1,394.5 crore Profit)
• Margins at 6.7% Vs 9.5% (Estimate : 6%)
• EPS at Rs 33.48 per share Vs Rs 64.27 (Estimate : Rs 31.41)

Of the 53 analysts tracking the company, 35 maintained ‘buy’, seven maintained ‘hold’ and 11 maintained ‘sell’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied a downside of 2.1%. Trading volume on the stock is nearly two times the 30-day average volume at this time of the day.

Source: Exchange Filing, Bloomberg

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Zomato Gains 10% After Monday’s Record Slump

Shares of Zomato rose as much as 9.91% in intraday trade after suffering a 20% rout on Monday.

• Today’s intraday rise is the most since Nov. 12.
• Of the 19 analysts tracking the company, 14 maintained ‘buy’, one maintained ‘hold’ and four maintained ‘sell’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 65.7%.
• Trading volume is nearly eight times the 30-day average volume, at this time of the day. The relative strength index on the stock is at 26, suggesting it may be oversold.

Source: Bloomberg

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Future Retail Approaches Supreme Court Against The NPA Classification Deadline

• Future Retail has challenged the event of default notice by its lenders.
• The 30-day grace period for clearing the dues will expire on January 29.

Source: People in the know of the filing

Future Retail has missed paying Rs 3,494 crore worth dues, which was required under the one-time restructuring scheme.

Failure to make the payment will result in the restructuring plan becoming infructous and instant NPA classification.

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