Top losers in NSE, BSE: Know why Sun Pharma, DLF, Tata Motors stocks are falling

The BSE benchmark Sensex nosedived almost 200 points following losses in auto, healthcare, realty, power and consumer durables stocks.

Among laggards that dragged down the key indices were Tata Motors, Sun Pharma and DLF.

Tata Motors

Tata Motors shares plunged over 9 percent today after the company reported a 96.22 percent decline in consolidated net profit for the December quarter.

The stock tumbled 9.35 percent to Rs 441.25 on BSE. At NSE, shares of the company tanked 8.56 per cent to Rs 440.75. The stock had lost 5 percent in the previous session as well.

Homegrown auto major Tata Motors yesterday reported a 96.22 percent decline in consolidated net profit to Rs 111.57 crore for the December quarter, dragged down by losses in domestic operations and lower profit of its British arm JLR.

It had posted net profit of Rs 2,952.67 crore in the same quarter of last fiscal, Tata Motors said in a BSE filing.

The company's consolidated sales during the October- December quarter were down 2.2 percent to Rs 67,864.95 crore as against Rs 69,398.07 crore in the year-ago period.

On a standalone basis, Tata Motors' loss after tax widened to Rs 1,046 crore in the third quarter of 2016-17, from Rs 137 crore a year ago.

Sun Pharma

Shares of Sun Pharma fell nearly 4 percent today after the company reported a 4.72 percent decline in consolidated net profit for the December quarter.

The scrip went down by 3.77 percent to Rs 625.60 on BSE.

At NSE, shares of the company dipped 3.64 percent to Rs 625.65.

Sun Pharmaceutical Industries yesterday reported a 4.72 percent decline in consolidated net profit to Rs 1,471.82 crore for the December quarter.

It had posted net profit of Rs 1,544.85 crore for the same period of the previous fiscal, Sun Pharma said in a BSE filing.

However, the company's total income from operations rose to Rs 7,912.66 crore for the third quarter of the current fiscal, from Rs 7,122.31 crore in the year-ago period.

DLF

Shares of realty major DLF slumped nearly 7 percent today after the company reported a 46 percent decline in consolidated net profit for the quarter ended December.

The stock tanked 6.61 percent to Rs 137.75 on BSE. At NSE, shares of the firm declined by 6.71 percent to Rs 137.55.

DLF yesterday reported a 46 percent decline in its consolidated net profit at Rs 98.14 crore for the quarter ended December on lower sales and higher finance cost.

Its net profit stood at Rs 182.11 crore in the year-ago period, the company said in a regulatory filing.

Income from operations, or net sales, fell by 30 percent to Rs 2,057.92 crore in the third quarter, from Rs 2,949.54 crore in the corresponding period of the previous year.

SpiceJet

Shares of SpiceJet today tanked nearly 7 percent after the company reported a 24 percent fall in net profit in three months ended December 2016.

The stock plunged 6.76 percent to end at Rs 60 on BSE. During the day, it slumped 7.69 percent to Rs 59.40. On the BSE, 67.71 lakh shares of the company were traded during the day.

The company's market valuation fell by Rs 260.3 crore to Rs 3,596.70 crore.

Bogged down by demonetisation and higher fuel costs, SpiceJet yesterday reported a 24 per cent fall in net profit at Rs 181.1 crore in three months ended December 2016 even as the second largest low-cost carrier remained in the black for the eighth straight quarter.

The airline had posted a net profit of Rs 238.39 crore in the corresponding quarter a year ago.

The company said it could remain profitable despite a softening of demand due to demonetisation and rising fuel prices.

The airline reported operating revenue of Rs 1,642.4 crore as its seat load factor remained robust at 90.7 percent, the highest in the industry.

With Agency Inputs