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Market Update

India Movers: Aditya, BHEL, Hatsun Agro, Magma Fincorp, P&G, UBI

Author: Mukesh Buch
Last Update: 9:05 AM ET May 08 2014

6:00 PM Mumbai – Aditya Birla tumbled after net declined 90% and sales surged 62%. BHEL successfully commissioned power plant in Oman. Hatsun Agro net plunged but sales jumped. Magma Fincorp net fell 4%. P&G Hygiene profit surged 55%. Union Bank net declined 27%.

The Sensex Index edged up 20.14 to close at 22,344.04. The CNX Nifty rose 7.30 to close at 6,659.85.

Gainers & Losers

Aditya Birla Chemicals (India) Limited tumbled 18.1% to Rs 158.50 after net profit in the fourth-quarter declined 90.6% to Rs 0.74 crore but net sales surged 62.4% to Rs 271.91 crore.

Bharat Heavy Electricals Limited jumped 3.2% to Rs 184.25 and the company said it has successfully commissioned a 126 megawatts gas turbine power plant in Oman.

Hatsun Agro Product Ltd slid 0.04% to Rs 270 after net profit in the fourth-quarter plunged 34% to Rs 4.01 crore and net sales jumped 8.2% to Rs 642.07 crore.

Magma Fincorp Ltd declined 5.9% to Rs 73.45 after net profit in the fourth-quarter slipped 4.5% to Rs 42.17 crore and total revenue jumped 10.9% to Rs 561.22 crore.

The lender said total loan book in the year climbed 10% to Rs 17,877 crore.

Procter & Gamble Hygiene & Health Care soared 4.9% to Rs 3,607.35 after net profit in the third-quarter surged 55.04% to Rs 80.76 crore and net sales jumped 20.09% to Rs 500.35 crore.

Stone India Ltd climbed 4.9% to Rs 22.15 after the company secured a contract worth Rs 83 crore from Delhi Metro Rail Corporation.

Shasun Pharmaceuticals Limited surged 7.9% to Rs 161.85 after Morgan Stanley Asia (Singapore) PTE acquired 0.71% stake in the company through a bulk deal on May 7.

Tata Motors Limited gained 1.4% to Rs 422.15 after the company’s wholly owned subsidiary issued and allotted $300 million in principal amount of 5.75% senior fixed rate notes due 2021.

Union Bank of India plunged 8.5% to Rs 135.25 after net profit in the fourth-quarter declined 26.6% to Rs 578.96 crore and total revenue climbed 12.6% to Rs 8,444.95 crore.

For the year, net profit slumped 21.4% to Rs 1,696.25 crore and total revenue soared 16.2% to Rs 32,170.93 crore.

At the end of fiscal year in March, ratio of gross non-performing assets to gross advances jumped to 4.06% from 2.98% a year ago.

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