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Market Update

India Movers: ABB Net Plunges 73%, Nestle India Net Climbs 21%


Author: Mukesh Buch
ticker.com
Last Update: 8:40 AM ET February 21 2013

6:00 PM Mumbai ABB fourth quarter net plunged 73% and Nestle India net climbed 21%. SAIL board is likely to decide share buy-back plan on February 25. Shriram Transport dropped. Videocon jumped on Mozambique stake sale talk with ONGC.

The Sensex Index declined 317.39 or 1.6% to close at 19,325.36 The CNX Nifty slumped 90.80 or 1.5% to close at 5,852.25.

Gainers & Losers

ABB Limited declined 4.5% to Rs 583.40 after net profit in the third quarter plunged 73.4% to Rs 17 crore.

Fineotex Chemical Limited gained 2.2% to Rs 27.30 after net profit in the third quarter declined 5.8% to Rs 1.29 crore.

KEI Industries Ltd slipped 1.2% to Rs 13.65 after net profit in the third quarter advanced 3.4% to Rs 5.82 crore.

Nestle India Limited rose 0.1% to Rs 4,600 after net profit in the fourth quarter jumped 20.8% to Rs 278.93 crore.

Ramky Infrastructure Limited slumped 2.8% to Rs 77.90 after third quarter net profit declines 66.5% to Rs 10.26 crore.

Steel Authority of India Limited slipped 3.8% to Rs 75.95 after the board of directors likely to decide share buy-back scheme in the next board meeting scheduled on February 25.

Shriram Transport Finance Company, Ltd plunged 7.7% to Rs 699.25 after the U.S. based private equity firm TPG Capital plans to trim its 20% stake to raise about $300 million.

SKS Microfinance, Ltd declined 4.3% to Rs 140.40 after the insurance regulator imposed Rs 50,00,000 penalty.

Sundram Fasteners Limited fell 0.1% to Rs 45.30 after net profit in the third quarter declined 9.2% to Rs 22.54 crore.

Videocon Industries Limited surged 5.3% to Rs 202.35 after Oil and Natural Gas Corp is in talks to buy the company''s 10% stake in a giant gas field off Mozambique.

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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