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Market Update

ING, Nestle India, Sesa Sterlite Net Surge; Dr. Reddy’s, Grasim Net Fall

Author: Mukesh Buch
Last Update: 11:13 AM ET October 29 2014

6:00 PM Mumbai – Dr. Reddy’s quarterly profit declined 17%. Grasim Industries net fell 8% on 16% increase in revenues. ING Vysya Bank net and revenue rose. MPS profit surged 80%. Nestle India net and revenue climbed. Sesa Sterlite profit jumped 15%. Tata Elxsi profit rose 14%.

The Sensex Index jumped 217.35 or 0.8% to close at 27,098.17 The CNX Nifty increased 62.85 or 0.8% to 8,090.45.

Gainers & Losers

Dr. Reddy’s Laboratories Limited decreased 1.1% to Rs 3,046.35 after the maker of generic drugs said net in the second-quarter declined 16.8% to Rs 574.10 crore and revenue rose 5.6% to Rs 3,614.37 crore.

Electrosteel Castings Limited dropped 2.9% to Rs 19.70 after net in the second-quarter tumbled 34.5% to Rs 12.77 crore and total revenue fell 5.6% to Rs 535.15 crore.

Grasim Industries Limited added 1.7% to Rs 3,438.25 after the industrial conglomerate said net in the second-quarter slipped 7.6% to Rs 416 crore and total revenue surged 15.9% to Rs 7,945 crore.

ING Vysya Bank Limited slipped 2.9% to Rs 622.80 after the operator of private sector bank said net in the second-quarter increased 2.2% to Rs 180.13 crore and total revenue soared 10.8% to Rs 1,664.03 crore.

Jubilant Life Sciences Limited tumbled 10.9% to Rs 146.80 after the company reported net loss in the second-quarter widened to Rs 94.11 crore compared to Rs 80.58 crore a year ago period.

Net revenue slid 3% to Rs 1,397.52 crore.

MPS Limited surged 19.2% to Rs 724.45 after net in the second-quarter surged 80.2% to Rs 14.11 crore and revenue advanced 13.3% to Rs 55.57 crore.

Nestle India Limited, the maker of consumer products increased 2.5% to Rs 6,119 after net in the third-quarter jumped 9.2% to Rs 311.29 crore and net sales climbed 8.9% to Rs 2,557.80 crore.

Sesa Sterlite Limited, the iron ore mining company jumped 2.1% to Rs 255.55 after net in the second-quarter surged 15.4% to Rs 1,658 crore and sales climbed 7.8% to Rs 19,448 crore.

Tata Elxsi Limited advanced 1.8% to Rs 627.70 after the telecom and networking company said net in the second-quarter climbed 13.7% to Rs 23.63 crore and net revenue increased 7.9% to Rs 205.88 crore.

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