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Market Update

India Movers: Aban Offshore, AstraZeneca, L&T, Oracle, Zee Entertainment


Author: Mukesh Buch
ticker.com
Last Update: 8:58 AM ET May 22 2013

6:00 PM Mumbai – Aban Offshore secured contract worth Rs 1,110 crore. AstraZeneca sales grew 3.4% and L&T profit dropped 7% and plans to offer 3 shares for every two held. Oracle Financial plans to raise $181 million in a stock offering. Tech Mahindra profit surged 37%. Zee Entertainment revenue climbed 11%.

The Sensex Index slipped 49.37 to close at 20,062.24 The CNX Nifty fell 19.60 to close at 6,094.50.

Gainers & Losers

Aban Offshore Limited rose 0.1% to Rs 319.90 after the drilling contractor secured contract form Oil and Natural Gas Corporation Limited worth Rs 1,110 crore.

AstraZeneca Pharma India Limited dropped 3.3% to Rs 766.40 after net loss in the fourth quarter declined to Rs 18.58 crore compared to Rs 33.01 crore. Net sales increased 3.4% to Rs 94.85 crore.

For the year, net swung to loss of Rs 89.53 crore, from net profit of Rs 19.76 crore. Net sales tumbled 26.5% to Rs 390.25 crore.

JSW Ispat Steel Limited slid 0.9% to Rs 9.24 after the fourth quarter standalone net profit of Rs 94.16 crore.

K.P.R. Mill Limited dropped 3.7% to Rs 129.50 after the fourth quarter net profit surged more than-three-fold to Rs 23.73 crore and sales surged 45.8% to Rs 439.23 crore.

For the year, net profit climbed more than two-fold to Rs 100.76 crore from Rs 31.23 crore and sales jumped 34.2% to Rs 1,460.93 crore.

Larsen & Toubro Limited declined 5.6% to Rs 1,517.10 after net profit in the fourth quarter dropped 6.9% to Rs 1,787.94 crore and total revenues jumped 10.1% to Rs 20,668.21 crore.

For the year, net profit in the year climbed 10.2% to Rs 4,910.65 crore and total revenues soared 15.1% to Rs 62,724.16 crore.

The infrastructure developer said order book stood at Rs 1,53,604 crore as on March 2013. The company also offered a plan to offer 3 shares for every 2 held.

Mahindra Forgings Limited plunged 9.4% Rs 41.60 after net profit in the fourth quarter surged to Rs 15.62 crore and sales slid 3.8% to Rs 99.06 crore.

For the year, net profit soared 502.80% to Rs 40.87 crore and sales rose 1.3% to Rs 394.67 crore.

Oracle Financial Services Software Limited gained 0.9% to Rs 2,442.35 after the software developer plans to raise as much as $180.9 million through a share sale to institutional investors and the founders plan to cut their stake in the company.

Prestige Estates Projects Limited gained 0.9% to Rs 178.50 after net profit in the fourth quarter surged 132.58% to Rs 89.03 crore and net sales jumped 169.9% to Rs 587.48 crore.

For the year, consolidated net profit soared 246.2% to Rs 285.97 crore and revenues gained 85.1% Rs 2,011.16 crore.

Tech Mahindra Limited advanced 6% to Rs 964.60 after consolidated net profit in the fourth quarter surged 36.8% to Rs 377 crore and revenue advanced 6.5% to Rs 1,907 crore.

As of March, Tech Mahindra’s total debt was at Rs 1,380 crore and cash and cash equivalent stood at Rs 710 crore.

Zee Entertainment Enterprises Limited increased 1.5% after consolidated net profit in the fourth quarter jumped 12.1% to Rs 179.60 crore and revenue climbed 10.7% to Rs 1,018.11 crore.

For the year, consolidated net profit surged 22.1% to Rs 719.55 crore and revenue soared 20.9% to Rs 3,845.66 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