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Market Update

HCL Tech Net Soars 32%, Gammon Infra Net Swings to Profit

Author: Mukesh Buch
Last Update: 9:03 AM ET November 19 2014

6:00 PM Mumbai – GAIL signed gas-supply agreement with U.S.-based Cheniere Energy. Gammon Infra quarterly net swung to profit. HCL Tech net soared 32%. Info Edge plans to invest Rs 185 crore in Zomato Media. Power Grid approved two projects worth Rs 1,000 crore.

The Sensex Index slipped 130.44 or 0.5% to close at 28,032.85. The CNX Nifty dropped 43.60 or 0.5% to 8,382.30.

Gainers & Losers

Axis Bank Limited, the largest private sector lender fell 0.9% to Rs 469.85 after raised $500 million in 5 years 6 months at 3.25% of coupon payment.

Apar Industries Limited, the power transmission company fell 0.8% to Rs 447 after the company’s Singapore subsidiary is in the process to set up a facility in United Arab Emirates.

GAIL (India) Limited, the natural gas producer declined 2.3% to Rs 478.65 after the company signed a gas-supply agreement with U.S.-based Cheniere Energy Inc.

Gammon Infrastructure Projects Limited surged 10% to Rs 19.69 after the infrastructure developer said net in the second-quarter swung to profit Rs 20.91 crore compared to a loss of Rs 23.43 crore a same period last year.

Total sales jumped 11.7% to Rs 173.47 crore.

HCL Technologies Limited, the software company advanced 1.9% to Rs 1,630.85 after net in the second-quarter surged 32.3% to Rs 1,873 crore.

Total revenues jumped 9.7% to Rs 8,735 crore.

Info Edge (India) Ltd, the online advertisement company climbed 2.4% to Rs 970.40 after the companyplans to invest Rs 185 crore in Zomato Media.

Power Grid Corporation of India Limited dropped 1.1% to Rs 146.70 after the company approved two transmission projects worth Rs 1,000 crore.

Sahara One Media and Entertainment Limited, the media network tumbled 7.7% to Rs 94.90 after company terminated the agreement of May 2014 with Triologic Digital Media for sale of TV contents.

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