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Market Update

Abbott, Power Grid, Tata Steel Net Climb; Oil India Net Falls

Author: Mukesh Buch
Last Update: 10:19 AM ET November 12 2014

6:00 PM Mumbai Abbott quarterly net surged 41% and Adani net swung to profit. Aditya Birla profit soared 55%. Bajaj Hindusthan and HMT losses narrowed. Oil India net and revenue declined. Power Grid net rose 3%. Tata Steel net profit jumped 37%. Uflex net surged 42% on 9% increase in revenues.

The Sensex Index gained 98.84 or 0.4% to close at 28,008.90. The CNX Nifty rose 20.65 or 0.3% to 8,383.30.

Gainers & Losers

Abbott India Limited decreased 1.4% to Rs 3,359.55 and the pharmaceutical products maker reported net in the second-quarter soared 41% to Rs 63.74 crore and revenues climbed 30% to Rs 577.42 crore.

Adani Enterprises Limited fell 1.1% to Rs 480.15 after the diversified conglomerate said net in the second-quarter swung to profit Rs 210.29 crore compared to a loss of Rs 416.95 crore in the same period last year.

Net revenues rose 1.8% to Rs 14,265.72 crore.

Aditya Birla Nuvo Limited, the financial service provider jumped 5.3% to Rs 1,816 after net in the second-quarter surged 55.8% to Rs 452.08 crore and revenues added 2.1% to Rs 6,565.40 crore.

Bajaj Hindusthan Limited, the maker of sugar and ethanol climbed 5.9% to Rs 20.50 after net loss in the second-quarter narrowed to Rs 131.14 crore compared to Rs 509.49 crore a year ago quarter.

Total revenues slipped 11% to Rs 1,184.82 crore.

HMT Limited, the tractor maker soared 6.3% to Rs 39.75 after net loss in the second-quarter narrowed to Rs 24.68 crore compared to Rs 40.12 crore a year ago period.

Revenues surged 62.7% to Rs 17.51 crore.

Oil India Limited dropped 2.4% to Rs 596.10 and oil and gas explorer reported net in the second-quarter plunged 32.7% to Rs 608.33 crore and net revenues declined 17.5% to Rs 2,622.26 crore.

Power Grid Corporation of India Limited slipped 3.1% to Rs 142.90 and the power transmission company announced net in the second-quarter decreased 3.1% to Rs 1,207.27 crore and revenues increased 4.9% to Rs 4,309.26 crore.

Tata Steel Limited, the largest domestic privately owned steel producer slipped 2.4% to Rs 468.30 and the net in the second-quarter climbed 37% to Rs 1,254 crore and revenues fell 2.4% to Rs 35,777 crore.

UFLEX Limited surged 8.8% to Rs 172.25 and the flexible packaging company reported net in the second-quarter surged 42.3% to Rs 65.11 crore and net sales advanced 9.2% to Rs 1,610.20 crore.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc