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Market Update

Hindalco Prepares for $800 Million Offering, Cairn Net Plunges


Author: Mukesh Buch
ticker.com
Last Update: 7:45 AM ET July 24 2014

6:00 PM Mumbai ACC net dropped 7%. Cairn India net tumbled 65% but revenue surged 10%. Dewan Housing profit and revenues surged.Hindalco appointed banks for share sale to rise about Rs 5,000 crore. Ingersoll Rand India net fell 5%. L&T Finance net surged 97%. TVS Motor net soared 39%.

The Sensex Index jumped 124.52 or 0.5% to close at 26,271.853 The CNX Nifty increased 34.85 to 7,830.60.

Gainers & Losers

ACC Ltd gained 1% to Rs 1,469 after net profit in the second-quarter dropped 7.1% to Rs 243.15 crore and revenues climbed 7.5% to Rs 3,097.43 crore.

Cairn India Limited plummeted 6.7% to Rs 322.65 after net profit in the first-quarter tumbled 65.05% to Rs 1,092.90 crore and total revenue surged 10.3% to Rs 4,482.85 crore.

Dewan Housing Finance Corporation Ltd slumped 3.7% to Rs 369.50 after net profit in the first-quarter surged 22.3% to Rs 147.15 crore and total revenues soared 28.9% to Rs 1,426.31 crore.

Hindalco Industries Ltd increased 2.3% to Rs 197.55 after the aluminium maker appointed banks for a share sale to institutional investors to raise about Rs 5,000 crore.

Ingersoll Rand India Limited declined 1.8% to Rs 591.55 after net profit in the first-quarter declined 5% to Rs 13.05 crore and net sales jumped 15.2% to Rs 144.89 crore

L&T Finance Holdings Ltd slipped 1.7% to Rs 71.30 after net profit in the first-quarter surged 97.2% to Rs 285.87 crore and total revenue soared 24.6% to Rs 1,468.54 crore.

Mastek Ltd dropped 2% to Rs 197.40 after net profit in the first-quarter tumbled 92.03% to Rs 0.90 crore and total revenue slid 0.9% to Rs 227.60 crore.

State Bank of Bikaner & Jaipur jumped 1.9% to Rs 680 after net profit in the first-quarter climbed 14.4% to Rs 214.59 crore and total revenue soared 10% to Rs 2,409.80 crore.

TVS Motor Company Limited plunged 6.3% to Rs 158.70 after net profit in the first-quarter soared 39.3% to Rs 72.30 crore and total revenue surged 31% to Rs 2,305 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