NEW DELHI: Shares of Dr Reddys Laboratories climbed 6 per cent in Mondays trade after the company posted a Rs 570 crore loss for December quarter results.
HDFC stock, on the other hand, was trading in the red ahead of its third-quarter results.
At 3.20 am, shares of HDFC were trading 2.24 per cent lower at Rs 2,395.95.
This is even as the mortgage lender is seen reporting three-four times jump in profit for the December quarter buoyed by one-time fair value gain on derecognition of investment in Gruh Finance.DRL advanced 5.58 per cent to Rs 3,197 per cent to Rs 3,052 even as the drug maker reported a consolidated net loss of Rs 569.70 crore for December quarter compared with a profit of Rs 485.20 crore in the year-ago quarter.
The numbers were largely dented by impairment chart of Rs 1,320 crore.
Excluding the charge, profit before tax stood at Rs 790 crore.
PBT stood at Rs 766.40 crore in the September quarter and Rs 580 crore in the same quarter last year.
Meanwhile, revenue for the quarter at Rs 4,383 crore also beat ET NOW poll estimate of Rs 4,190 crore.In case of HDFC, Kotak Institutional Equities expects a 303.78 per cent jump in profit at Rs 8,527.8 crore.
The brokerage pointed out that post-merger of Gruh Finance with Bandhan Bank, HDFC has recorded a fair value gain of Rs 9,000 crore, and the company will likely set aside 30 per cent of the gains Rs 2,700 crore -- as extraordinary provisions.