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Market Update

Blue Dart, IndusInd Bank Profit Soar; Bajaj Auto net declines

Author: Mukesh Buch
Last Update: 12:31 PM ET October 15 2014

6:00 PM Mumbai Bajaj Auto net plunged 29% but sales soared 15%. Blue Dart net rose 3% on 24% increase of revenue. IndusInd Bank net climbed 30%. Sterling Holiday net loss narrowed after sales surged 60%.]

Market indexes in Mumbai declined on the day of state assembly poll in Maharashtra and Haryana.

Investors are keenly watching the outcome of assemble polls in Maharashtra as the second most populous state is the home to financial capital Mumbai and attracts nearly 13% of all foreign direct investments.

The election results are scheduled to be announced on October 19.

The Sensex Index fell 34.74 to close at 26,349.33 The CNX Nifty slid 20.25 to 7,864.

Gainers & Losers

Bajaj Auto Limited climbed 2.5% to Rs 2,410.05 after the scooter and motorcycle maker said net in the second-quarter plunged 29.4% to Rs 590.90 crore and sales soared 15.1% to Rs 5,826.85 crore.

Blue Dart Express Limited declined 2.8% to Rs 5,088.30 after net in the second-quarter increased 2.5% to Rs 30.81 crore and sales jumped 23.5% to Rs 581.66 crore.

Circuit Systems (India) Ltd. surged 9.7% to Rs 16.90 after net in the second-quarter tumbled 33.3% to Rs 0.12 crore and sales advanced 4.2% to Rs 6.42 crore.

IndusInd Bank Limited advanced 2.4% to Rs 650.15 after net in the second-quarter surged 30.3% to Rs 430.20 crore and total revenues soared 17.9% to Rs 2,378.76 crore.

Sterling Holiday Resorts (India) Limited climbed 2.2% to Rs 161 after net loss in the second-quarter narrowed to Rs 3.51 crore compared to Rs 8.73 crore. Sales in the quarter surged 60.2% to Rs 34.64 crore.

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