HUL (2.08% down)
Hindustan Unilever Ltd (HUL) declined 2.08% after brokerages downgraded the stock on the back of price cuts. Citi says the firm need to spend aggressively in new ventures and maintain market shares in personal products; limited operating leverage will result in compressing margins.
Bharati Shipyard (5.73% up)
Shares of Bharati Shipyard ended with a gain of 5.73% after the firm reported third quarter net profit of Rs33 crore from Rs31.8 crore a year earlier, while net sales grew nearly one-third to Rs336 crore. The company said that it expects to maintain this growth rate.
Titan Industries (13.83% up)
Titan Industries shares were up 13.83% after strong results. JPMorgan raised earnings estimates for 2009-10, 2010-11 and 2011-12 by 10%, 8% and 9%, respectively. Titan’s eyewear retail business is likely to witness operational break-even by March 2012.
LT Foods (20% up)
The LT Foods stock gained 20% on the back of strong quarterly results. Its net sales grew 4% to Rs237.5 crore and net profit surged to Rs13.9 crore from Rs1.4 crore in the previous year. The company also had an exceptional gain of Rs5.2 crore during the quarter.
Hitachi (20.03% up)
Hitachi Home and Life Solutions gained 20.03% after announcing its quarterly results. Its third quarter revenue was at Rs110.9 crore against Rs67.6 crore a year earlier. Its profit after tax stood at Rs8.77 crore against a loss of Rs4.29 crore a year ago. The firm is targeting a 5-6% market share in the Indian air-conditioners market
Bharat Petroleum (7.99% up)
Bharat Petroleum Corp. gained 7.99%, Hindustan Petroleum Corp. 4.69% and Indian Oil Corp. 4.58% on hopes of more budgetary support from the government. Oil ministry officials will meet the finance minister to seek additional compensation for the state-owned oil firms on Tuesday.