Live Market Update:

The INDIA VIX is down 0.67% at 13.26. S&P BSE Sensex is trading at 283131.47 up 23.55 points, while NSE Nifty is trading at 8774.15 up 5.55 points. A total of 64 stocks registered a fresh 52-week high in trade today, while 4 stocks touched a new 52-week low on the NSE.


Stock News:

Escorts Ltd, Q3FY17 result, beats market estimates. Revenue stood at Rs 1,093 cr vs. street expectation of Rs 1,074. EBITDA stood at Rs 91 cr vs. street expectation of Rs 84 Cr. PAT was Rs 54 cr vs. street expectation of Rs 48 cr.

The standalone revenue of the company grew by 22.7% to Rs 1,093 cr yoy due to pickup in revenue of agri machinery products by 25% yoy. In addition, construction equipment revenue also improved by 14% on yoy basis. The company derives 80% of revenue from the agri-machinery segment, 13%-construction equipment, 4%-railway products and 3%-auto business.


Page Industries Ltd (PAGE) recorded a 19% yoy revenue growth for 3QFY17; inline with revenue estimates. Net profit grew 21% yoy in line with revenue..

PAGE posted a 19% yoy revenue growth to Rs 522 Cr meeting analyst expectations; the impact of demonetization was seen on qoq basis.


Heidelberg Cement's Q3FY17 standalone results for the quarter came in mixed versus consensus estimates. Revenue for the quarter came in 5.3 % higher than the estimated figure of Rs. 384 crores. EBITDA for the quarter came in 22.8 % higher than the estimated figure of Rs. 45.5 crores. However, net profit for the quarter came in 4.6 % lower than the estimated figure of Rs. 6.8 crores.


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