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Market Update

In Mumbai Trading Adani Ports, Pipavav and Rajesh in Focus

Author: Sarla Buch
Last Update: 12:18 PM ET August 18 2015

6:00 PM Mumbai Cipla said quarterly profit more doubled on 43% increase in revenues. Rajesh Exports received an export order worth $200 million from UAE. Adani Ports signed an agreement with Kerala government for the development of Vizhinjam deep sea port.

Stocks on Mumbai traded sideways in lacklustre trading and rupee continued to slide.

Stocks of tea and coffee companies on Tuesday were trading higher after Press Trust of India reported that the government may allow 100% foreign direct investment in rubber and coffee plantation sectors.

On the report, tea and coffee plantation companies soared in trading.

Harrisons Malayalam Ltd surged 10.6%, Jay Shree Tea and Industries Ltd rose 1.4%, Tata Coffee Ltd soared 8.6% and CCL Products India Ltd jumped 7.9%.

Mcleod Russel India added 3.8%, Andrew Yule and Co. Ltd rose 2.6% and Bombay Burmah Trading Corp. increased 3%.

Rubber companies are, Indag Rubber Ltd gained 4%, Apcotex Industries Ltd added 2%, Apar Industries Ltd rose 1%, Rubfila International Ltd jumped 7.1%, and Mahalaxmi Rubtech Ltd soared 16.6%.

Rupee closed unchanged at 65.31 against one U.S. dollar.

The Sensex Index fell 46.73 to close at 27,831.54. The CNX Nifty slid 10.75 to 8,466.55.

Gainers & Losers

Adani Ports and Special Economic Zone Limited increased 1.5% to ₹363.65 after the port service provider signed a concession agreement with the Kerala government for the development and maintenance of the Vizhinjam deep water port project for about ₹7,525 crore.

Cipla Limited dropped 2.8% to ₹683.65 after the drug maker said net in the first-quarter surged 121% to ₹650.51 crore.

Net sales in the quarter soared 42.7% to ₹3,777 crore.

Mahindra & Mahindra Ltd rose 1.1% to ₹1,366.15 after the tractor maker received shareholders'' approval to raise up to ₹5,000 crore through a debenture offering.

New Delhi Television Limited jumped 3% to ₹110.80 after the news broadcaster plans to raise capital through a stake sale in NDTV Gadgets portal.

Pipavav Defence and Offshore Engineering Company Limited slid 0.9% to ₹61.40 after the shipbuilding infrastructure developer secured INS Vikramaditya''s Refit order worth ₹200 crore.

Shilpi Cable Technologies Limited surged 11.7% to ₹60.85 after net in the first-quarter soared 55% to ₹13.88 crore.

Net revenues in the quarter surged 44.8% to ₹427.08 crore.

Rajesh Exports Limited jumped 5.8% to ₹604.95 after the gold and jewellery maker received an export order worth ₹1,170 crore from Al Malek Jewellery, United Arab Emirate.

Reliance Communications Limited decreased 1.6% to ₹61.20 after the communications service provider plans to acquire full control in its tower subsidiary Reliance Infratel.

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