Q3 results today: Bajaj Auto, Tech Mahindra, Tata Steel, others to announce Q3 earnings

Q3 results today: Investors would be on edge with some of the major companies releasing their Q3 earnings and the primary market humming with the of two mainboard IPOs and a few SME IPOs. A slew of companies, including Bajaj Auto, Tech Mahindra Ltd, Tata Steel Ltd, Indian Oil Corporation Ltd, RailTel Corporation of India, and TVS Motor Company, will be the focus today as they release their Q3 results.

Also Read: Nifty 50, Sensex today: What to expect from Indian stock market in trade on January 24

Sensex and Nifty 50, the benchmark equity indices, saw a sharp downturn on Tuesday's trading session after initially opening higher. This was mostly because heavyweight sectors, especially banking, witnessing significant selling. The drop in mid and small caps was greater than that of the main indices.

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Nifty 50 ended with a deep cut of 333 points, or 1.54 per cent, at 21,238.80, and Sensex closed 1,053 points, or 1.47 per cent, down at 70,370.55.

Also Read: Stock market today: Nifty 50, Sensex fall 1.5% each; mid, smallcaps bleed; investors lose over ₹8 lakh crore in a day

Analysts predict that coming ahead, during the present earnings season, markets will likely see stock-specific moves.

Approximately 77 companies will release their December quarter results today - Aarti Drugs Ltd, ACI Infocom Ltd, Andhra Cements Ltd, Ashutosh Paper Mills Ltd,AuSom Enterprise Limited,Bajaj Auto Ltd,Balkrishna Industries Ltd,Bharat Dynamics Ltd, Blue Dart Express Ltd, Birlasoft Ltd, Canara Bank,CARE Ratings Ltd,CEAT Ltd, Chalet Hotels Ltd, CMS Info Systems Ltd, Container Corporation Of India Ltd,Cybertech Systems And Software Ltd, Dalmia Bharat Ltd, DCB Bank Limited, DLF Ltd, Eimco Elecon (India) Ltd, Enbee Trade & Finance Ltd, Epigral Ltd, Exide Industries Ltd, Ginni Filaments Ltd, Heubach Colorants India Ltd, Indian Bank, Indosolar Ltd, Indostar Capital Finance Ltd, Infobeans Technologies Ltd, Indian Overseas Bank, Indian Oil Corporation Ltd, ISMT Ltd, JSW Holdings Limited, Jupiter Infomedia Ltd, Kirloskar Pneumatic Co.Ltd, Kolte-Patil Developers Ltd, Laurus Labs Ltd, Laxmi Organic Industries Ltd, MAS Financial Services Ltd,  Motilal Oswal Financial Services Ltd, Oasis Securities Ltd, Perfectpac Ltd, PNB Gilts Ltd, PNB Housing Finance Ltd, Premier Explosives Ltd, Quick Heal Technologies Ltd, RailTel Corporation of India Ltd, Rainbow Children's Medicare Ltd,Rajkamal Synthetics Ltd, Ramgopal Polytex Ltd, Redtape Ltd, Macfos Ltd, Sagar Cements Ltd, Sarla Performance Fibers Ltd, SBC Exports Ltd, Sharda Cropchem Ltd, Share India Securities Ltd, Shiva Cement Ltd, Shradha AI Technologies Ltd, Sharda Ispat Ltd, Simplex Realty Ltd,Sps International Ltd, Swadeshi Industries Leasing Co.Ltd, Tata Steel Ltd, Tci Industries Ltd, Tech Mahindra Ltd, T T Ltd, TVS Motor Company Ltd, UCO Bank, Ujjivan Small Finance Bank Ltd, UTL Industries Limited, Virinchi Ltd, Vardhman Textiles Ltd, Wanbury Ltd, WSFx Global Pay Ltd, and Arco Leasing Ltd.

Bajaj Auto

The two and three-wheeler major is expected to report robust growth in net profit and revenue driven by volume growth, price hikes, and a better product mix in favour of premium vehicles, according to estimates by analysts and leading brokerage houses.

The net profit of the auto original equipment manufacturer (OEM) is expected to rise 33 per cent year-on-year (YoY) to ₹1,987 crore and revenue may rise 31 per cent to ₹12,258 crore.

The surge is likely driven by a 22 per cent YoY growth in volumes and rise in average selling price (ASP) on rich product mix.

Also Read: Bajaj Auto Q3 Results Preview: Net profit, revenue may rise over 30% YoY led by volume growth, rich product mix

Tech Mahindra

Tech Mahindra numbers are expected to be weak due to seasonality as well as the continued weakness in its communications vertical and weak discretionary spending in key markets.

Brokerage firms underscore that apart from the numbers, the outlook on margin and growth in the CME (communications, media and entertainment) vertical will be the key monitorable in Tech Mahindra's Q3FY24 scorecard.

Motilal Oswal said Tech Mahindra's revenue might decline 7 per cent year-on-year (YoY) in the Indian rupee terms, following the dip in Q2 as CME and enterprise remain under pressure due to seasonality. The brokerage firm expects a 1.1 per cent QoQ decline in constant currency (CC) revenue for Q3FY24.

Also Read: Tech Mahindra Q3 result preview: PAT, revenue to fall YoY; margin outlook, CME growth key monitorable

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.