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Market Update

India Movers: Adani Power Loss Narrows, Hindustan Unilever Net Jumps

Author: Mukesh Buch
Last Update: 11:02 AM ET January 27 2014

6:00 PM Mumbai Adani Power net loss narrowed after revenue soared. Glenmark net grew 1% and revenue climbed 16%. HUL profit climbed 22% as revenue jumped 8%. Shree Cement net tumbled. Symphony profit surged 48%. Torrent Power net swung to a loss. Tata Elxsi net soared.

The Sensex Index plummeted 426.11 or 2% to close at 20,707.45. The CNX Nifty declined 130.90 to close at 6,135.85.

Gainers & Losers

Adani Power Limited declined 3.7% to Rs 33 after net loss in the third-quarter narrowed to Rs 545 crore from Rs 619.01 crore a year ago period.

Total revenue soared 120% to Rs 4,240 crore compared to Rs 1,928 crore a year ago.

For the quarter, the company sold 11.2 billion units of power from 6 billion units a year earlier.

For the year, the electricity producer forecasted thermal power generation capacity to reach 9,240 megawatts.

Glenmark Pharmaceuticals Ltd soared 5.1% to Rs 534.90 after net profit in the third-quarter grew 1.5% to Rs 216.23 crore and revenue climbed 15.9% to Rs 1,601.22 crore.

Hindustan Unilever Limited gained 1.7% to Rs 575.55 after net profit in the third-quarter climbed 21.9% to Rs 1062.31 crore or $169.63 million and total revenue jumped 8.5% to Rs 7,366.01 crore.

The consumer goods maker said the domestic consumer business in the quarter grew at 10% and advertising and promotion expense soared 13.05% to Rs 929.46 crore.

Shree Cement Limited slipped 1.1% to Rs 4,349 after net profit in the third-quarter tumbled 46.9% to Rs 115.49 crore and total sales dropped 7.2% to Rs 1,328.03.

Symphony Limited surged 10.6% to Rs 456.45 after net profit in the third-quarter surged 48.2% to Rs 24.79 crore and total revenue climbed 29.5% to Rs 119.26 crore.

SKS Microfinance Ltd slid 0.9% to Rs 185.40 after net profit in the third-quarter soared to Rs 21.40 crore and total revenue jumped 54.8% to Rs 139.66 crore.

Torrent Power Limited plunged 7.1% to Rs 99.40 after the company reported net in the quarter swung to a loss Rs 35.51 crore compared to a profit of Rs 95.66 crore.

Total revenue in the quarter increased 6.4% to Rs 2,068.47 crore.

Tata Elxsi Limited jumped 4.3% to Rs 379.05 after net profit in the third-quarter surged 146.6% to Rs 21.55 crore and net sales advanced 27.7% to Rs 200.12 crore.

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