Q3 Results 06th Feb Live: Tata Steel, Siemens, Bosch, Shree Cements, MRF, BEML, Ethos, Sun TV Network, Jubilant Pharmova, JK Tyre, Whirlpool, GR Infraprojects to announce Q3 results

Berger Paints shares fall nearly 2% after Q3 net profit drops 8.3%

Berger Paints India on Thursday reported a decline of 8.3 per cent in its consolidated net profit to Rs 271.35 crore for the December quarter of FY26.

The company had posted a net profit of Rs 295.97 crore in the October-December period a year ago, according to a regulatory filing from Berger Paints India Ltd (BPIL).

BPIL reported an exceptional item (net loss) of Rs 53.31 crore in the December quarter, mainly due to the implementation of new Labor Codes.

Its profit before exceptional items and tax was Rs 405.54 crore in the quarter under review, up 2.82 per cent.

The revenue from operations increased marginally to Rs 2,983.97 crore in the December quarter. It was Rs 2,774.61 crore in the year-ago period.

Its total expenses stood at Rs 2,627.12 crore in the December quarter.

Poly Medicure shares decline 6% post Q3 results

Poly Medicure reported a standalone net profit for the quarter ended December 2025 at Rs 78.38 crore compared to Rs 85.15 crore in the same quarter last year.

CLSA, Jefferies remain positive on Godrej, citing strong presales momentum, improving cash flows, and execution gains.

CLSA on Godrej Prop

• OP,TP Rs 2360
• Management expects to meet/surpass its FY26 presales guidance and for presales growth to continue in FY27
• While cash flows lagged (presales) in 9MFY26, GPL expects a sharp rise in collections & OCF in 4QFY26, driven by a slew of completions.
• GPL is trading at a discount to peers
• Believe that with improving cash flows, low profitability overhang should get addressed, warranting a stock rerating.

Jefferies on Godrej Properties

• Buy, TP cut to Rs 2700
• Saw pre-sales, customer collections, and operations. CF surplus grew by 55%, 40%, and 73% YoY during the Dec’qtr.
• Management sounded confident of beating its pre-sales target for FY26 and expects growth in FY27.
• National developer model is driving market share gains as some micro-market specific issues emerge.
• A large jump in execution should also drive faster P&L performance soon

Brokerages maintain positive ratings for Bharti Airtel

CLSA – Outperform, TP ₹2,310

• Consolidated revenue/EBITDA up 4% QoQ, 20–25% YoY.
• India growth steady; Africa a positive surprise.
• Added 5.2m subs QoQ; ARPU ₹259 (+1% QoQ, +5% YoY), 21% above Jio.
• Strong FCF ₹478bn; low gearing at 1x.

Morgan Stanley – Overweight, TP ₹2,435

• EBITDA beat estimates on strong India ops.
• Subscriber growth with lower churn; home business strong.
• Improved FCF with lower capex; Net debt declined sharply.

Jefferies – Buy, TP ₹2,575

• Q3 in line; India mobile/homes additions, Africa growth, margin expansion.
• Strong FCF; raised FY26–28 estimates by 1–4%.
• Strong outlook: 17–18% India revenue/EBITDA CAGR, 24% FCF CAGR.

CITI – Buy, TP ₹2,475

• Steady Q3; India mobile revenue/EBITDA +2% QoQ.
• Homes revenue/EBITDA +7% QoQ; Airtel Business slightly below estimates.
• Africa results strong; rights issue payment due Mar 2–16.

RBI pauses rate cuts, retains interest rate at 5.25%

After a 25 basis point rate cut in December, the RBI on Friday decided to pause on the policy rate front amid geopolitical uncertainties.

This is the first monetary policy review after Finance Minister Nirmala Sitharaman announced the Budget for financial year 2026-27.

Announcing the sixth and final bi-monthly monetary policy for the current fiscal, RBI Governor Sanjay Malhotra said the Monetary Policy Committee (MPC) has decided to retain short-term lending rate or repo rate at 5.25 per cent with a neutral stance.

RBI projects inflation for current fiscal year at 2.1%; 4% for Q1 in FY27 and 4.2% in Q2.

LIC shares up 6% after 17% jump in Q3 net profit

State-owned life insurer LIC on Thursday reported a 17 per cent jump in net profit at Rs 12,958 crore in the third quarter ended December 2025.

The country’s biggest insurer, Life Insurance Corporation of India (LIC), earned a net profit of Rs 11,056 crore in the year-ago period.

PVR Inox Ltd Q3 results

Net Revenue at Rs. 1879.8 cr. Vs. Rs. 1717.3 cr. YoY, Rs. 1823.0 cr. QoQ.

EBITDA at Rs. 622.3 cr. Vs. Rs. 527.7 cr. YoY, Rs. 611.7 cr. QoQ.

EBITDA Margin at 33.1% Vs. 30.7% YoY, 33.6% QoQ

Net Profit at Rs. 95.4 cr. Vs. Rs. 35.5 cr. YoY, Rs. 105.5 cr. QoQ.

Indian Oil Corporation Ltd Q3 results

Net Revenue at Rs. 236257.2 cr. Vs. Rs. 219522.4 cr. YoY, Rs. 206447.1 cr. QoQ.

EBITDA at Rs. 22745.4 cr. Vs. Rs. 7572.7 cr. YoY, Rs. 16245.0 cr. QoQ.

EBITDA Margin at 9.6% Vs. 3.4% YoY, 7.9% QoQ

Net Profit at Rs. 13502.3 cr. Vs. Rs. 2147.4 cr. YoY, Rs. 8190.9 cr. QoQ.

Bharti Airtel shares in green despite drop in net profit

Bharti Airtel on Thursday said its consolidated net profit plunged by about 55 per cent to Rs 6,630.5 crore in the third quarter ended December 2025, due to higher network operating costs, statutory fees and employees’ expenses.

The company’s consolidated profit, attributed to the owners of the parent, was Rs 14,781.2 crore in the year-ago period, according to a regulatory filing.

However, Airtel’s profit on a sequential quarter basis was down by about 2 per cent.

Hitachi Energy India shares up 13.4% on NSE after strong show in Q3

Hitachi Energy India Ltd (HEIL) on Thursday posted over 90 per cent jump in net profit at Rs 261.4 crore for December quarter FY26, supported by higher revenues.

It had logged a net profit of Rs 137.4 crore in the October-December period of preceding 2024-25 financial year, the company said in an exchange filing. Revenue rose to Rs 2,168 crore from Rs 1,672.4 crore.

IndiGrid Infrastructure Ltd – Offer for Sale

Issue Period: Feb 5–6, 2026

Floor Price: ₹160.50

CMP: ₹162.49

Total Issue Size: 7.01 Cr units (₹1,124.95 Cr), 7.36% of O/S capital

Non-Retail (QIB+HNI): 90% of issue, cleared at ₹161.00 on Feb 5

Retail: 10% of issue, bidding today (Feb 6) at min ₹161.00

Tata Steel Q3 preview

• Tata Steel is expected to post steady December-quarter results, with higher shipment volumes offsetting weaker steel prices and elevated input costs.
• Axis Securities projects consolidated revenue to rise 14% year-on-year and 4% quarter-on-quarter in Q3 FY26.
• EBITDA is seen up 46% yoy on a favorable base, but down 3% sequentially, pressured by lower price realizations and higher coal costs, though volume growth should cushion the impact.

Sectoral indices in green on NSE

Among sectoral indices on the NSE, FMCG, Private Bank and Realty stocks opened in the green with marginal gains. However, most other sectors were under pressure. The Nifty IT index saw the highest decline, falling by more than 1 per cent. Media stocks also traded lower, while the Nifty Pharma index declined by 0.8 per cent.

Morning update

Nifty Highest OI

(Expiry 10th Feb)

Call:27000/Put:25000

Nifty Spot – 25642

Nifty 50 EMA – 25677

Nifty 200 EMA – 25182

Nifty 100 PE 21.8

Nifty PCR – 0.79

NiftyCash Market Volume – 91k Cr

FII Index Long Futures decreased to 18% from 19%

S&P 500: -1.23%

Brent futures: 67.9

Dollar Index: 97.9

USD INR. :90.3

Markets open flat ahead of RBI MPC meet

BSE Sensex index opened lower on Friday amid weak global cues, and ahead of the RBI policy. NSE Nifty50 opened around 25,606 levels, but stabilized to quote at 25,624, down 18 points or 0.07 per cent.