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Market Update

India Earnings: Bajaj Auto, Zee, DLF Net Fall; Tata Steel Swings to Loss


Author: Mukesh Buch
ticker.com
Last Update: 8:25 AM ET May 21 2015

6:00 PM Mumbai Zee said net in the quarter rose 6% on 20% increases in revenues. Bajaj Auto net declined 19%. DLF net slipped 22%. Tata Steel net swung to a loss. Balaji Telefilms net swung to profit.

Market indexes in Mumbai trading edged lower in volatile trading and investors reacted to latest corporate earnings reports from Bajaj Auto, Bajaj Finserve, DLF, Tata Steel and Zee.

Rupee strengthened 17 paisa to 63.65 against one U.S. dollar.

The Sensex Index fell 27.86 to close at 27,809.35. The CNX Nifty slid 2.25 to 8,421.

Gainers & Losers

Aarti Drugs Limited tumbled 5.7% to ₹695.75 after the drug maker said net profit in the fourth-quarter slipped 14.1% to ₹18.86 crore.

Net sales in the quarter fell 1.5% to ₹277.61 crore.

Bajaj Auto Limited jumped 3.8% to ₹2,231.60 after the automobile maker said net in the fourth-quarter declined 18.6% to ₹622 crore.

Net revenues in the quarter decreased 4.4% to ₹4,894 crore.

Bajaj Finserv Limited edged up to ₹1,453.05 after the personal loans provider said net in the fourth-quarter nearly decreased 0.1% to ₹707.12 crore.

Total revenues in the quarter climbed 17.1% to ₹2,406.64 crore.

Balaji Telefilms Limited surged 5.9% to ₹75.10 after the producer of television content said net in the fourth-quarter swung to profit of ₹9.54 crore compared to a loss of ₹27.40 crore.

Total sales in the quarter declined 8.8% to ₹76.94 crore.

Claris Lifesciences Limited surged 8.5% to ₹304.80 after the pharmaceutical products maker said that Cadila Healthcare plans to acquire the generic sterile injectables business in the company.

The Cadila will likely to pay between ₹3100 crore to ₹3400 crore to the company.

DLF Limited increased 1.1% to ₹124.60 after the real estate developer said net in the fourth-quarter declined 21.9% to ₹171.62 crore.

Total revenues in the quarter dropped 16.7% to ₹2,101.16 crore.

IRB Infrastructure Developers Ltd. increased 1.7% to ₹246.50 after the infrastructure developer received ₹2,650 crore Agra-Etawah Bypass project from National Highway Authority of India.

Mahindra & Mahindra Ltd edged down to ₹1,250.35 after the tractor maker plans to acquire 33% stake and invest $25 million in an agriculture equipment venture with Japan-based Mitsubishi Heavy Industries.

Tata Steel Limited plunged 4.9% to ₹343.75 after the steel products maker said net in the fourth-quarter swung to a loss of ₹5,674.29 crore compared to profit of ₹1,035.87 crore.

Total revenues in the quarter declined 20.5% to ₹33,805.59 crore.

TD Power Systems Limited dropped 3.9% to ₹322.10 after the generators maker said net in the fourth-quarter tumbled 95.4% to ₹0.65 crore.

Total revenues in the quarter increased 2.2% to ₹187.06 crore.

WABCO India Limited declined 3.3% to ₹5,499.45 after the software development services provider said net in the fourth-quarter slipped 7.3% to ₹30.39 crore.

Net revenues in the quarter climbed 21.4% to ₹383.19 crore.

Whirlpool of India Limited advanced 2.9% to ₹756 after the home appliances maker said net in the fourth-quarter soared 55.5% to ₹55.27 crore.

Net sales in the quarter climbed 19.8% to ₹890.08 crore.

Zee Entertainment Enterprises Limited slid 0.4% to ₹316.90 after the most profitable media network said net in the fourth-quarter increased 6.1% to ₹230.77 crore.

Net revenues in the quarter climbed 19.5% to ₹1,403.47 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