Starting with Nifty top gainer Britannia and not only the volume growth came in at the higher end of our expected poll but other than that it came in with better margins and that was the key positive, the stock up around 5 percent.

The other Nifty stock which is in focus on account of earnings is Coal India. There is also the realisations surprised positively. In fact, realizations were up around 4 percent on a year-on-year (YoY) basis and that is why the stock is up around in trade.

Hind Rectifiers also reported a strong set of numbers. The margins came in at 16 percent versus 9 percent last year.

For defence players like Hindustan Aeronautics Limited and Bharat Dynamics Limited, it was a strong quarter. For Hindustan Aeronautics, not only did we see revenue growth of around 33 percent, the profits jumped up over 200 percent boosted by lower taxes. Bharat Dynamics’ profit is up to Rs 106 crore versus Rs 28 crore last year and that has been boosted by better margins.

For NHPC as well the profit is up around 33 percent and Va Tech Wabag even if the management has gone ahead and cut their guidance as well as revenue this time was lower by 15 percent, the street is excited by the fact that the cash flow was positive for the company. In fact, in FY18 and 19 we have seen negative cash flow and this time the company has reported strong cash flow. Therefore, the stock is inching higher.

SJVN is also flying in trade and that is because the consolidated net profit is up around 45 percent.

Venky’s on the flipside is coming under a bit of pressure. The revenue growth was decent with 26 percent growth but the EBITDA is a loss and that is why the street is a bit nervous.

Adani Enterprises is also coming under pressure. The revenue is down about 8 percent there and so the stock is also seeing a tad bit of pressure.