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Market Update

India Movers: ALSTOM, Hindustan Zinc, LIC Housing, TCS, RIL, Wipro

Author: Mukesh Buch
Last Update: 8:43 AM ET April 21 2014

6:00 PM Mumbai – ALSTOM India secured a contract worth €30 million from BHEL. Hindustan Zinc net declined 13%. LIC Housing Finance profit soared 17%. Reliance net rose 0.8% but revenue climbed 13%. TCS and Japan-based Mitsubishi form a new software company. Wipro net surged 41%.

The Sensex Index jumped 135.99 or 0.6% to close at 22,764.83. The CNX Nifty rose 38.25 to close at 6,817.65.

Gainers & Losers

ALSTOM India Ltd jumped 1.6% to Rs 398.30 after the company secured a contract worth €30 million from Bharat Heavy Electricals.

Hindustan Zinc Ltd gained 0.5% to Rs 132.20 after net profit in the fourth-quarter declined 13.1% to Rs 1,881.20 crore and total revenue fell 1.8% to Rs 4,231.34 crore.

LIC Housing Finance Limited increased 1.4% to Rs 273.15 after net profit in the fourth-quarter soared 17% to Rs 370.02 crore and total revenue climbed 19.4% to Rs 2,477.94 crore.

Liberty Shoes Ltd surged 14.4% to Rs 187.60 after net profit in the fourth-quarter surged 340.2% to Rs 4.27 crore and net sales soared 35.4% to Rs 142.05 crore.

Reliance Industries Limited rose 0.07% to Rs 959.45 after net profit in the fourth-quarter rose 0.8% to Rs 5,631 crore and revenue climbed 12.9% to Rs 97,807 crore.

For the year, net profit jumped 4.7% to Rs 21,984 crore and revenue soared 8.1% to Rs 4,01,302 crore.

The company said gross refining margin in the quarter dropped to $9.3 per barrel from $10.1 per barrel a year ago.

As on March, company''s outstanding debt jumped to Rs 89,968 crore compared to Rs 72,427 crore a year earlier.

Tata Consultancy Services Limited rose 0.1% to Rs 2,220.50 after the company signed a pact with Japan-based Mitsubishi Corp to form a software services company.

The company said it will hold 51% while Mitsubishi will hold the remaining 49% and will be operational from July 2014.

Wipro Limited plunged 6.6% to Rs 546.60 after net profit in the fourth-quarter surged 41% to Rs 2,230 crore and revenue climbed 22% to Rs 11,700 crore.

For the quarter, information technology services revenue in rupee terms jumped 24% to Rs 10,620 crore and for the year it’s climbed 18% to Rs 39,950 crore.

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