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Market Update

India Movers: ABB, Asian Paints, Indian Bank, PNB, SKS Micro


Author: Mukesh Buch
ticker.com
Last Update: 9:24 AM ET May 09 2013

6:00 PM Mumbai ABB first quarter net declined 11% and Asian Paints net slid 2%. Indian Bank net dropped 15% and Punjab National Bank net plunged 21%. Prism Cement net declined 61% and SKS Microfinance net swung to profit. Sundaram-Clayton net dropped 26%.

The Sensex Index fell 51.14 to close at 19,939.04 The CNX Nifty slid 19.15 to close at 6,050.15.

Gainers & Losers

ABB Limited fell 0.9% to Rs 531 after net profit in the first quarter declined 10.7% to Rs 42.56 crore and net sales to Rs 1,953.36 crore.

New orders in the first quarter dropped 8% to Rs 1,531 crore from Rs 1,663 crore a year ago period.

For the year, power and automation company reported a strong order backlog of Rs 8,229 crore compared to Rs 9,028 crore from a year ago.

Asian Paints Limited declined 3.6% to Rs 4,673.60 after net profit in the fourth quarter slid 2.1% to Rs 239.56 crore and total annual income jumped 7.1% to Rs 2,276.22.

Asian Paints declared dividend of Rs 36.50 per share for the year ending in March.

Indian Bank gained 2.7% to Rs 160.35 after net profit in the fourth quarter dropped 15.4% to Rs 292.13 crore.

Magma Fincorp, Ltd surged 8.2% to Rs 95.15 after consolidated net profit in the fourth quarter climbed 85.3% to Rs 44.15 crore.

For the year, consolidated net profit jumped 86.8% to Rs 138.24 crore and total income advanced 57.5% to Rs 1701.47 crore.

Punjab National Bank soared 4.6 to Rs 783.45 after net profit plunged 20.6% to Rs 1,130.80 crore and in total income increase 5.4% to Rs 11,552.84 crore.

During the quarter, net interest income climbed 14.2% and non-performing loans jumped to 4.3% from 2.9% a year ago. Provisions and contingencies climbed 43.8% to Rs 1,477.70 crore.

For the year, net profit slid 2.8% to Rs 4,747.67 crore and total income surged 13.4% to Rs 46,109.25 crore.

Prism Cement Limited dropped 3.8% to Rs 45.10 after fourth quarter net profit declined 60.9% to Rs 14.28 crore and total income from operations to Rs 1,382.97 crore.

SKS Microfinance, Ltd climbed 4.6% to Rs 133.55 after the company reported fourth quarter net swing to Rs 2.70 crore profit compared to net loss of Rs 329.53 and total income in the quarter climbed 42.3% to Rs 101.98 crore.

The company''s loan disbursements surged 65% to Rs 1,295 crore and incremental draw downs surged 201% to Rs 1,704 crore on sequential basis.

The non-Andhra Pradesh loan portfolio outstanding soared 35% to Rs 2,016 crore on sequential basis.

State Bank of Hyderabad said fourth quarter net profit plunged 21% to Rs 379.90 crore and operating Income jumped 7.3% to Rs 3,227.55 crore.

For the year, revenue climbed 16.9% to Rs 12,447.80 crore while net profit declined 3.7% to Rs 1,250.22 crore.

Sundaram-Clayton Limited gained 1.6% to Rs 343.55 after net profit in the fourth quarter dropped 26.1% to Rs 16.95 crore.

Triveni Engineering & Industries Ltd. fell 0.3% to Rs 15.10 after fourth quarter net loss narrowed to Rs 21.34 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