L&T Infotech, Bharat Bijlee, Everest Industries and KEI Industries rallied post earnings. Biocon lost 4.5 percent after bad earnings.
Shares of Quess Corp, Pidilite Industries and Liberty Shoes rose 2-6 percent in morning on the back of robust Q3 (Oct-Dec) numbers.
Quess Corp has recorded 107 percent rise in its Q3 net profit at Rs 69.8 crore versus Rs 33.7 crore in a year ago period. Revenue was up 48 percent at Rs 1,584 crore versus Rs 1,067 crore. EBITDA increased by 54 percent at Rs 91 crore, while OPM was flat at 5.7 percent. The company’s other income doubled to Rs 12 crore.
Pidilite Industries’ Q3 net profit was up 18 percent at Rs 239.1 crore versus Rs 202.6 crore. Revenue was up 15.6 percent at Rs 1,542.9 crore versus Rs
1,334 crore. EBITDA was up 29.1 percent at Rs 370.2 crore and EBITDA margin rose 250 bps at 24 percent.
Oil prices hit their highest since December, 2014, pushed up after US crude inventories posted a 10th straight week of declines and as the dollar continued to weaken.
Brent crude futures, the international benchmark for oil prices, were trading at USD 70.99 a barrel, their highest level since early December, 2014, up 0.67 percent from previous settlement.
USWest Texas Intermediate (WTI) crude futures climbed to USD 66.29 per barrel, also the highest level since early December, 2014, up 1.04 percent from previous close.
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