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The company reported 22% year-on-year growth in standalone net profit at Rs 256 crore for the third quarter ended December. Revenue from operations, meanwhile, surged 70% year-on-year to Rs 918 crore for the December quarter.

All sectoral indices were trading lower with Nifty IT down over 1%. Adani stocks continued to be under selling pressure with 10 counters in the red zone.

The down trend seems to be over in the stock price.The daily RSI shows positive indication.

"Last quarter, Tata Power numbers were very good, helped by coal business, the Mundra operations and even the revenue to power discom. It is a very integrated power company. It is a nice integrated power play, old-age, new-age right balance, good cash flows and that is something which we like. The valuations are reasonable and have seen almost a 30% correction from Rs 300 level."

Derivatives trader Ashish Gupta said that extended trading hours will give an opportunity to timely hedge positions in case of any shock event but will lead to increased fatigue and stress level for active traders like him.

Promoters held 48.76 per cent stake in the company as of 31-Dec-2022, while FII and DII ownership stood at 22.32 per cent and 7.5 per cent, respectively.

“We are likely to end with Rs 225-250 crore for the Zoya brand and that has come substantially on the same store growth. Zoya’s share in the revenue of Titan Company is small and will continue to be small for a while. The Zoya stores have notched up 60% or 70% same store growth for FY23.”

A total of 260,466 shares changed hands on the counter till 10:30AM (IST).

On the technical charts, the RSI of the stock stood at 72.76.

Britannia Industries saw a stark y-o-y improvement in the OPM in the range of 400-600 bps driven by better revenue mix and operating efficiencies