Titan, Asian Paints, Tata Power & more: How Q3 result-bound stocks are faring today

Select stocks including Titan Company, Asian Paints, Tata Power Company, Godrej Properties, Torrent Power, Thermax, Global Health and more are set to announce their results for the December 2024 quarter later today. However, the movement in these counters has been a mixed bag ahead of the earnings.

Stocks including Godrej Properties, Titan, Asian Paints and Thermax were trading higher, rising up to 5 per cent in the early trade, while others including Global Health, Torrent Power and Tata Power company were down up to 3 per cent in the first half. Brokerage firms are expecting a mixed set of numbers from these counters.

Shares of Titan Company Ltd shed more than 1.4 per cent to Rs 3,529.30 during Tuesday's trading session with its total market valuation slipping below Rs 3.15 lakh crore mark. The Tata Group stock ended Monday's trading session at Rs 3,580.25.

Kotak Institutional Equities is modelling 24 per cent YoY growth in standalone jewelry sales (excluding sale of gold bullion; versus 17 per cent YoY growth in 1HFY25, in line with management’s guidance on witnessing better growth trends compared to first half, led by good wedding season, weak base and gold jewelry demand boosted by the custom duty cut.

"We expect about 100 bps drop in salience of studded jewelry to 23 per cent due to strong demand for gold jewelry and also due to underlying weakness in studded jewelry sales, 13 per cent growth in watches division and 15 per cent growth in eyewear. We estimate one-time inventory loss at Rs 27.500 crore, which will be classified as an exceptional item," Kotak added.

Shares of Asian Paints Ltd inched up marginally to Rs 2,309 during the session, against its previous close at Rs 2,293.60 on Monday. The total market capitalization of the company managed to hold Rs 2.2 lakh crore mark. Equirus Securities has a reduced rating on the Asian Paints.

"Asian Paints is likely to post a soft quarter as we have built 1-2 per cent domestic decorative paints volume growth and 3 per cent sales decline. Margins too would remain soft impacted by high base, input cost inflation and an inferior mix leading to 400 bps in Ebitda margin compression," Equirus said.

Tata Power Company Ltd edged up 1.7 per cent to Rs 360.85 on Tuesday but only to give up gains and command a total valuation close to Rs 1.13 lakh crore. The stock had settled at Rs 354.85 on Monday. B&K Securities has a 'buy' rating on Tata Power Company Ltd.

B&K Securities is expecting Tata Power to report a 3.2 per cent YoY growth in revenue at Rs 15,122.3 crore, with net profit remaining flat at Rs 980.4 crore. Ebitda margins may improve to 19.3 per cent in the December 2024 quarter. However, sequential numbers may remain muted, said the brokerage.

Godrej Properties Ltd zoomed more than 4.35 per cent to Rs 2,420 during Tuesday's trading session with its total market capitalization nearing Rs 75,000 crore mark. The stock had settled at Rs 2319.35 on Monday. Antique Stock Broking, which has a 'buy' rating on Godrej Properties (GPL), is expecting the company to report a strong set of performance in the December quarter.

"We expect GPL to continue with its strong traction. GPL had a few new project launches during the quarter with a GDV of over Rs 10,000 crore (in Gurugram, Noida, Pune, and Kolkata). These projects are expected to receive healthy responses. We expect sales booking to be Rs 6,500 crore during the quarter," Antique added.

Shares of Torrent Power Ltd dropped more than 2.75 per cent to Rs 1,313.80 on Monday, compared to its previous close at Rs 1,351.35 crore. The total market capitalization of the company slipped below Rs 66,000 crore mark during the session.

JM Financial is expecting a marginally fall in revenue on both QoQ and YoY basis to Rs 6,244.6 crore in the Q3FY25. Ebitda may fall 6 per cent YoY despite margins rising to 18.1 per cent for the quarter. PAT is seen falling 9 per cent sequentially to Rs 449.4 crore. JM expects its revenue to decline due estimated lower generation in the quarter but Ebitda to increase due to decline in power purchase cost by 10 per cent YoY. "We expect PAT to increase led by lower tax expense," it said with a buy tag.

Thermax Ltd rose more than 2 per cent to Rs 3,654.10 on Tuesday, commanding a total market capitalization of more than Rs 43,000 crore. The stock had settled at Rs 3,576.05 in the previous trading session on Monday. Commenting on Q3 results of Thermax, Nuvama said that Quality of orders (margin dilution) along with moderation in large-ticket orders remains key challenges.

"On the other hand, Thermax has shown clear intention (signed MoU with FFI recently) to enter into green hydrogen space and expand its green solutions segment over time. We remain cautious on Thermax given ambiguity on core business' ordering momentum, adoption rate of advanced tech products and as its cruising through investment phase in newer age areas. Pickup in private capex is the key trigger," Nuvama added.

Global Health Ltd, the parent company of Medanta hospital, remained range bound between Rs 1,042-1,058 on Monday, compared to its previous close at Rs 1,045.40. The total market capitalization of the company stood close to Rs 28,000 crore.

Axis Securities is expecting a marginal fall in revenue, Ebitda and net profit on a quarterly basis, while yearly numbers are seen flat-to-slightly higher with margins expected to remain flat on sequential basis "Gurugram unit remains soft due to seasonality and Lucknow units showing gradual recovery. Noida Hospitals now expected in H2FY26E for commercialization," Axis said.