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Market Update

India Movers: ABB, Ashok Leyland, Grasim, RCapital, Tata Motor

Author: Mukesh Buch
Last Update: 7:53 AM ET May 05 2014

6:00 PM Mumbai – ABB net jumped 20% but sales fell. Ajanta Pharma profit surged 159%. Ashok Leyland sales in April declined 21%. Grasim sales and profit jumped. RCom net tumbled 49% but R Capital profit rose. Tata Motors April sales dropped 34%.

The Sensex Index gained 41.23 to close at 22,445.12. The CNX Nifty rose 4.55 to close at 6,699.35.

Gainers & Losers

ABB India Ltd dropped 1.6% to Rs 821 after net profit in the first-quarter jumped 20% to Rs 52 crore and revenue declined 8% to Rs 1,810 crore.

Astral Poly Technik Limited gained 3.5% to Rs 566 after net profit in the fourth-quarter slumped 4.9% to Rs 27.78 crore and total revenues soared 29.04% to Rs 336.96 crore.

Ajanta Pharma Ltd surged 8.5% to Rs 1,060.45 after net profit in the fourth-quarter climbed 159% to Rs 70 crore and revenues jumped 25% to Rs 311 crore.

Ashok Leyland Limited fell 0.4% to Rs 22.35 after the company said total sales in April declined 21% to 5,897 units compared to 7,487 units a year ago month.

Total sales of medium and heavy duty commercial vehicle dropped 13.8% to 4,523 units and total sales of light commercial vehicles plunged 38.5% to 1,374 units

Canara Bank Ltd soared 6.5% to Rs 304.20 after the bank’s gross non-performing assets declined to Rs 7,570.21 crore from Rs 8,073.92 crore in third quarter, but increased from Rs 6260.16 crore in the quarter a year ago.

The ratio of gross non-performing assets to gross advances dropped to 2.49% from 2.57% a year ago.

Grasim Industries Ltd rose 0.6% to Rs 2,641.30 after net profit in the fourth-quarter jumped 11% to Rs 679 crore and revenue climbed 10% to Rs 8,419 crore.

Pfizer Limited slipped 1.3% to Rs 1,269 after net profit in the fourth-quarter fell 3.7% to Rs 56.03 crore and total revenues slipped 2.5% to Rs 274.48 crore.

Reliance Communications Ltd declined 3.9% to Rs 117.20 after net profit in the fourth-quarter tumbled 48.5% to Rs 156 crore and total revenues dropped 4.8% to Rs 5,671 crore.

For the year, net profit surged 55.8% to Rs 1,047 crore and revenues rose 2.5% to Rs 22,321 crore.

Reliance Capital Limited slipped 2.3% to Rs 341.20 after net profit in the fourth-quarter rose 1% to Rs 267 crore and revenue jumped 9% to Rs 1,848 crore.

As on year end in March the company’s net worth rose 4% to Rs 12,483 crore and total assets climbed 12% to Rs 45,528 crore from a year ago. The company had a net debt to equity ratio of 1.82.

Tata Motors Limited slid 0.1% to Rs 414.25 after the company said total sales in April plummeted 34% to 33,892 vehicles.

The auto-maker said domestic sales of passenger vehicles tumbled 36% to 30,670 units and sales of commercial vehicles plunged 36% to 23,229 units. Export declined 10% to 3,222 units from a year ago.

V-Guard Industries Ltd climbed 6.8% to Rs 523.15 after net profit in the fourth-quarter surged 129.1% to Rs 20.48 crore and net sales jumped 12.8% to Rs 418.99 crore.

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