Monday, 25 January 2021

130 companies to announce Q3 results this weekend, just before the budget

ET INTELLIGENCE GROUP:Over 130 companies, including nine Nifty companies, are due to announce their December quarter results on the Friday and Saturday before the Union Budget.

91 companies will declare their third quarter results on Friday, January 29, the last trading day before the Budget is presented on Monday, February 1. These include the top three pharma companies – Sun Pharmaceutical Industries, Dr Reddy's Labs and Cipla – as well as Tata Motors, IOCL, Tech Mahindra, UPL, Dabur, Dr Lal Pathlabs, Cholamandalam Investment, Exide Industries and LIC Housing Finance.

Most of these companies are expected to announce their results after market hours. They may be able to neutralise the impact of their Q3 results on their stocks' performance since the overall sentiment on the following trading session would be driven by the Budget proposals.

Similar would be the case with the 30 companies that will announce their results on January 30. ICICI Bank, IDFC First Bank and Shree Cement are among the leading names in this list.

Incidentally, 19 companies such as Castrol, Kansai Nerolac and Coromandel International will declare their results on the same day as the Budget, with the annual event likely to mask their quarterly results performance.

Given that companies can choose the day they want to announce their quarterly results, there is a possibility of the results of these companies being lacklustre. While investors may not immediately factor in earnings downgrade, if any, on the Budget day; the stocks may remain sluggish after the Budget.

After a difficult year, severely impacted by Covid-19, the Budget is expected to dole out stimulus packages for the impacted industries and incentives to investors.

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Category : budget,Business,Nifty,Q3 earnings,Q3 results,union budget
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