Q4 results impact: Tata Consumer Products, Tata Elxsi, ICICI Pru, MCX shares fall up to 7% today; what's ahead?

Stocks of a handful of companies including Tata group firms Tata Consumer Products (TCPL) and Tata Elxsi, life insurer ICICI Prudential Life Insurance Company and commodity exchange MCX took a beating, falling up to 7 per cent following March quarter results.

Shares of Tata Consumer Products slipped 5.22 per cent to Rs 1,112 on BSE. This stock fell even as Tata Consumer’s Ebitda (up 23 per cent YoY) and adjusted profit (up 57 per cent YoY) came ahead of estimates while its revenue growth (up 8.5 per cent YoY) was in-line with estimates.

"TCPL continues to drive growth via innovation, distribution expansion and foray into new segments. Retain ‘BUY’ with a targte price of Rs 1,400," Nuvama said in a note.

In the case of Tata Elxsi, sales declined 0.6 per cent QoQ in 4QFY24, significantly lower than Kotak Institutional Equities' expectations. The performance was muted across verticals, the brokerage said adding that EBIT margin moderated to 25.8 per cent, primarily due to lower revenues.

This stock tanked 5.31 per cent to Rs 7,000.70 on BSE. "We cut our EPS estimates by 2-4 per cent, following another disappointing quarter. Tata Elxsi has a higher exposure to embedded engineering and has a well-diversified revenue mix, but the increasing dependence on top-5 clients with subscale relationship beyond them is a risk. Valuations are stretched at 45X FY2026E. Maintain SELL," it said.

Shares of ICICI Prudential Life Insurance Company plummeted 6.74 per cent to hit a low of Rs 553.15. Analysts largely have price targets in the range of Rs 590-700 for this stock. Kotak Institutional Equiies said the APE trajectory gradually turning up even as margins may remain rangebound, closer to current lows.

It retained 'Buy' on ICICI Prudential Life Insurance with fair value of Rs 685. Motilal Oswal said the company’s ability to sustain strong premium growth and VNB margins will be vital for re-rating of the stock.

Meanwhile, MCX shares fell 6.09 per cent to Rs 3,782.55. Motilal Oswal said weak Q4 revenue led to a 5 per cent miss on profit; costs were broadly in line with estimates, the brokerage said.