Nifty’s 10,700 put option contract was among the most active Nifty option contracts on National Stock Exchange.

Premium on the contract jumped 102.22 percent to Rs 100. Over 4.59 lakh shares were added to the open interest which stood at over 8.09 lakh shares.

Jet Airways (Q3, YoY)

• Stock rose as much as 7.5 percent to Rs 242.80.
• Revenue up 1 percent to Rs 6,148 crore.
• Net loss of Rs 587.8 crore versus Net profit of Rs 165.3 crore.
• EbitdaR down 54.3 percent to Rs 459.5 crore.
• Margin at 7.5 percent versus 16.5 percent.

JK Tyre & Industries (Q3, YoY)

• Stock rose as much as 4.1 percent to Rs 91.45.
• Revenue up 28.6 percent to Rs 2,730.8 crore.
• Net profit up 2.5 times to Rs 26.7 crore.
• Ebitda up 24.5 percent to Rs 265.1 crore.
• Margin at 9.7 percent versus 10 percent.
• Exceptional losses to Rs 20.5 crore.
• Approves raising Rs 200 crore via preferential issue.

National Peroxide (Q3, YoY)

• Stock fell as much as 4.6 percent to Rs 2,671.
• Revenue up 40.9 percent to Rs 98.2 crore.
• Net profit up 79.2 percent to Rs 37.1 crore.
• Ebitda up 74.5 percent to Rs 54.6 crore.
• Margin at 55.6 percent versus 44.9 percent.

Deepak Fertilizers and Petrochemicals (Q3, YoY)

• Stock fell as much as 8.7 percent to R 108.65.
• Revenue down 11.6 percent to Rs 1,453.4 crore.
• Net profit down 77.6 percent to Rs 12.2 crore.
• Ebitda down 29.1 percent to Rs 107.8 crore.
• Margin at 7.4 percent versus 9.2 percent.
• Finance Cost up 62 percent to Rs 57.2 crore.

Infibeam Avenues (Q3, YoY)

• Stock rose as much as 17.3 percent to Rs 41.10.
• Revenue up 2 times to Rs 150.3 crore.
• Net profit of Rs 26.6 crore versus Rs 1.9 crore.
• Ebitda up 2.6 times to Rs 43.9 crore.
• Margin at 29.2 percent versus 22.8 percent.

Mcleod Russel (Q3, YoY)

• Stock fell as much as 6.8 percent to Rs 82.35.
• Revenue down 18 percent to Rs 456.2 crore.
• Net profit down 20.6 percent to Rs 53.6 crore.
• Ebitda down 88.9 percent to Rs 5.8 crore.
• Margin at 1.3 percent versus 9.4 percent.
• Decrease in inventory of Rs 180.8 crore.
• Deferred tax reversal of Rs 33.2 crore.

Mishra Dhatu Nigam (Q3, YoY)

• Stock fell as much as 4.2 percent to Rs 112.80.
• Revenue up 4.1 percent to Rs 153.2 crore.
• Net profit down 36.2 percent to Rs 16.9 crore.
• Ebitda down 43.4 percent to Rs 17.1 crore.
• Margin at 11.2 percent versus 20.5 percent.
• Raw Material Costs up 2.5 times to Rs 803.4 crore.

Glenmark Pharma (Q3, YoY)

• Stock fell as much as 5.8 percent to Rs 573.60.
• Revenue up 15.9 percent to Rs 2,555 crore.
• Net profit up 15.2 percent to Rs 107.7 crore.
• Ebitda up 34.7 percent to Rs 434.6 crore.
• Margin at 17 percent versus 14.6 percent.

Voltas (Q3, YoY)

• Stock rose as much as 3.8 percent to Rs 534.60.
• Revenue up 8.5 percent to Rs 1,491.8 crore.
• Net profit down 18.7 percent to Rs 80.9 crore.
• Ebitda up 1.24 percent to Rs 115.7 crore.
• Margin at 7.8 percent versus 8.3 percent.
• Other Income up 2.6 times to Rs 54.8 crore.
• Exceptional loss of Rs 12 crore.

MTNL (Q3, QoQ)

• Stock fell as much as 1.3 percent to Rs 11.85
• Revenue up 15.9 percent to Rs 514.5 crore.
• Net loss of Rs 832.3 crore versus net loss of Rs 859.1 crore
• Ebitda loss of Rs 330.2 crore.

Indiabulls Real Estate (Q3, YoY)

• Stock fell as much as 2.5 percent to Rs 640.30.
• Revenue up 5.3 times to Rs 1,271.1 crore.
• Net profit of Rs 202.5 crore versus Rs 6 crore.
• Ebitda up 4.4 times to Rs 387.8 crore.
• Margin at 30.5 percent versus 36.3 percent.

GSK Consumer Healthcare (Q3, YoY)

• Stock rose as much as 1.4 percent to Rs 7,589.15.
• Revenue up 7.4 percent to Rs 1,116.8 crore.
• Net profit up 35.1 percent to Rs 221.1 crore.
• Ebitda up 14.8 percent to Rs 238.5 crore.
• Margin at 21.4 percent versus 20 percent.

Kitex Garments (Q3, YoY)

• Stock fell as much as 5.2 percent to Rs 92
• Revenue down 7.6 percent to Rs 136.1 crore.
• Net profit down 29.5 percent to Rs 12.4 crore.
• Ebitda down 26.3 percent to Rs 25.5 crore.
• Margin at 18.7 percent versus 23.5 percent.

Cox & Kings (Q3, YoY)

• Stock fell as much as 8.3 percent to Rs 141.20.
• Revenue up 16.3 percent to Rs 1,331.1 crore.
• Net profit down 69.6 percent to Rs 28.9 crore.
• Ebitda down 8.8 percent to Rs 141.5 crore.
• Margin at 10.6 percent versus 13.6 percent.
• Other expenses up 91 percent to Rs 216.7 crore.

Shree Renuka Sugars (Q3, YoY)

• Stock rose as much as 4.4 percent to Rs 10.65.
• Revenue down 37.9 percent to Rs 1,092.6 crore.
• Net profit of Rs 68.6 crore versus net loss of Rs 2,294 crore.
• Ebitda up 2.3 times to Rs 119.9 crore.
• Margin at 11 percent versus 3 percent.
• Exceptional loss of Rs 2,410 crore in base quarter.
• Forex gain of Rs 86.8 crore.

GMR Infra (Q3, YoY)

• Stock fell as much as 4.1 percent to Rs 14.20.
• Revenue down 5.5 percent to Rs 1,958 crore.
• Net loss of Rs 561 crore versus Rs 578 crore.
• Ebitda up 2 percent to Rs 487 crore.
• Margin at 24.9 percent vs 23 percent.
• Finance cost up 14 percent to Rs 719 crore.

Simplex Infra (Q3, YoY)

• Stock fell as much as 6.6 percent to Rs 140.15.
• Revenue up 3 percent to Rs 1,403 crore.
• Net profit up 17 percent to Rs 36.3 crore.
• Ebitda up 2.5 percent to Rs 179 crore.
• Margin at 12.7 percent versus 12.8 percent.

Shares of Dr. Reddy’s Laboratories nearly 30 percent intraday, the most since October 2001, to Rs 1,872. However, it recovered later.

The drugmaker received a Form 483 with 11 observations from the U.S. FDA after the inspection of Formulations Manufacturing Plant in Hyderabad, according to its stock exchange filing on Feb. 8.

Form 483 is used by the drug regulator to document and communicate concerns discovered during plant inspections.

Brokerage and research firm Jefferies noted that the 11 observations includes four repeat observations, including one repeated from 2015 and 2017.

“Given the repeat observations and the number of investigations cited, remediation would take time and likely require re-inspection,” Jefferies said in a note.

Trading volume was 40 percent below 20-day average, Bloomberg data showed. The stock advanced 22 percent in the past 12 months compared to a 5 percent gain in the Sensex.

Shares of the oil and gas explorer rose nearly 6 percent intraday, the most in over four months, to Rs 140. The stock had declined for five consecutive trading sessions. The scrip was the best performer on Sensex and Nifty.

The state-owned company’s operating margin expanded to 59.84 percent in the three months ended December, compared to 56.41 percent clocked in the year ago period, according to its stock exchange filing.

Key Earnings Highlights (Q3, YoY)

• Revenue down 1.1 percent to Rs 27,694.1 crore.
• Net profit flat to Rs 8,262.7 crore versus Rs 8,264.6 crore.
• Ebitda up 5 percent to Rs 16,571 crore.
• Margin at 59.84 percent versus 56.41 percent.
• Net realisation to $66.38/bbl versus $73.07/bbl.
• Declares dividend of Rs 5.25 per share.

Here’s what analysts had to say after the company announced its quarterly results:

UBS

• Maintained ‘Buy’ with a price target of Rs 240.
• Lower opex drives Ebitda beat; higher other income drives earnings beat.
• No subsidy burden so far should allay concerns.
• Expect investors to react positively.

Deutsche Bank Research

• Maintained ‘Buy’; cut price target to Rs 187 from Rs 216.
• December quarter review: Benefits from higher realization.
• Beat due to lower other expenses and higher-than-expected other income.
• Cut FY19-20 earnings estimates due to lower oil prices.