Most stocks rise as L&T, Asian Paints gain on earnings
L&T advanced to a three-month high and Asian Paints Ltd surged 6% after reporting earnings that beat estimates
Mumbai: Most Indian stocks advanced, with the benchmark index holding at a three-year high. Industrial companies and metalmakers climbed as software exporters fell.
Engineering company Larsen and Toubro Ltd advanced to a three-month high and Asian Paints Ltd surged 6% after reporting earnings that beat estimates. Aluminum maker Hindalco Industries Ltd rallied to a two-week high. Tata Consultancy Services Ltd and HCL Technologies Ltd dropped after climbing to records on 15 October.
Profits at all seven Sensex companies that have announced earnings so far this season have beaten or matched estimates. About 47% of the 30 Sensex companies missed estimates in the June quarter, versus 27% for the March quarter and 43% in the three months through December, data compiled by Bloomberg show. BLOOMBERG
Rajhkumar K Shaaw in Mumbai contributed to this story.
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