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Market Update

Fourth Weekly Advance in Sensex in India, Idea Cellular Net Falls


Author: Mukesh Buch
ticker.com
Last Update: 9:47 AM ET October 23 2015

6:00 PM Mumbai, India Sensex in Mumbai rose for the first time in three days and the index closed higher for the fourth week in a row. Wipro quarterly net and revenues rose 7%. Symphony net surged 30%. Cadila revenues soared 12%. Blue Dart net surged 75%. Idea profit slipped 13%. HCL Infosystems loss widened.

Sensex in Mumbai traded higher after reached above 2-month high after the indexes jumped for the fourth week in a row.

Market sentiment was also bolstered after the European Central Bank chief Mario Draghi showed willingness to cut rates more to prop up the economy.

Rupee strengthened 30 paisa to 64.82 against one U.S. dollar.

The Sensex Index advanced 183.15 or 0.7% to close at 27,470.81 The CNX Nifty fell 43.75 or 0.5% to 8,295.45.

For the week, Sensex Index increased 1.7% and CNX Nifty gained 1.4%.

According to the latest data from the stock exchanges, foreign investors were net sellers of stocks and sold ₹48.33 crore of stocks in Wednesday trading.

Gainers & Losers

Blue Dart Express Ltd. rose 0.6% to ₹7,630 after the air transportation services provider said net in the second-quarter soared 74.5% from a year ago to ₹53.75 crore.

Net revenues in the quarter increased 11.9% to ₹651.45 crore.

Cadila Healthcare Limited advanced 2.6% to ₹442.85 after the pharmaceutical products maker reported net in the second-quarter surged 40.6% from a year ago to ₹390.91 crore.

Net revenues in the quarter jumped 16.9% to ₹2,483.19 crore.

HCL Infosystems Limited declined 4.5% to ₹57.30 after the information technology services provider said net loss in the first-quarter widened to ₹49.24 crore compared to ₹45.26 crore in the same period last year.

Net sales in the quarter tumbled 91.3% to ₹147.06 crore.

Idea Cellular Limited plunged 7.4% to ₹140.45 after the telecom services provider said net in the second-quarter slipped 13.1% from a year ago to ₹809.26 crore.

Total revenues in the quarter slid 1.2% to ₹8,689.06 crore.

Symphony Limited soared 8.4% to ₹2,154 after the air cooler maker said net in the first-quarter surged 33% from a year ago to ₹28.76 crore.

Net revenues in the quarter jumped 22.1% to ₹121.69 crore.

Talwalkars Better Value Fitness Limited increased 1.3% to ₹268.40 after the fitness services provider entered into a strategic partnership with Colombo-based Power World Gyms in Sri Lanka.

V.I.P. Industries Ltd. surged 19.4% to ₹102.55 after the luggage maker reported net in the second-quarter soared more than three-fold from a year ago to ₹15.70 crore.

Net revenues in the quarter jumped 34.9% to ₹295.50 crore.

Wipro Limited dropped 1.7% to ₹568.20 after the software developer reported net in the second-quarter increased 7% from a year ago to ₹2,240 crore.

Net revenues in the quarter advanced 7% to ₹12,510 crore.

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