RBL Bank Shares Plunge 7% on Q3 Miss; Tech Mahindra Rises 3% Exceeding Revenue Forecasts

• RBL Bank shares dropped over 7% to Rs 301.3, marking its biggest single-day loss since December 20, 2024, after missing Q3 net profit expectations.
• The private lender reported lower-than-expected Q3 net profit, attributed to a 46% cut in provisions for bad loans and other contingencies.
• Tech Mahindra shares climbed 3.3% to Rs 1,725.5 on January 19, driven by better-than-expected third-quarter revenue of Rs 14,393 crore, an 8.3% increase.
• Tech Mahindra's communications division revenue grew 4.7%, while its manufacturing division saw the highest growth at 11.7%.
• Despite a 14.1% increase in net profit to Rs 1,122 crore, Tech Mahindra missed analyst expectations due to a one-time charge from India's new labor codes.

Why It Matters: RBL Bank faced a significant share drop due to missed Q3 profit, while Tech Mahindra gained on strong revenue.