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Market Update

India Movers: Apollo Tyres, Adani, Bajaj Auto, BOI, Tata Steel, Tech Mahindra


Author: Mukesh Buch
ticker.com
Last Update: 9:01 AM ET May 15 2014

6:00 PM Mumbai – Apollo Tyres net surged 99%. Adani Ports net tumbled 25% while revenue climbed 19%. Bajaj Auto profit slid while sales barely rose 3%. Bank of India net plunged 26%. L.G.Balakrishnan profit climbed 54%. Tata Steel net swung to profit. Tech Mahindra net declined 39%.

The Sensex Index gained 90.48 or 0.4% to close at 23,905.60 The CNX Nifty rose 14.40 to 7,123.15.

Gainers & Losers

Apollo Tyres Ltd climbed 5.9% to Rs 177.30 after net profit in the fourth-quarter surged 98.6% to Rs 281.62 crore and total revenues jumped 5.4% to Rs 3,247.88 crore.

For the year, net profit jumped 64.1% to Rs 1,005.05 crore and total revenue increased 4.8% to Rs 13,509.82 crore.

Adani Ports & Special Economic Zone Ltd gained 1.5% to Rs 220.35 after net profit in the fourth-quarter tumbled 25.4% to Rs 529.80 crore and revenues climbed 19.1% to Rs 1,288.78 crore.

For the year, net profit jumped 7.17% to Rs 1739.64 crore and revenues soared 43.4% to Rs 5,507.62 crore.

Bajaj Auto Ltd plunged 4.3% to Rs 1,953.20 after net profit in the fourth-quarter fell 0.3% to Rs 764 crore and sales rose 2.5% to Rs 5,117 crore.

Bank of India declined 3.4% to Rs 263.55 after net profit in the fourth-quarter plunged 26.3% to Rs 557.51 crore and total revenue soared 21.7% to Rs 11,274.09 crore.

At the end of fiscal year in March, ratio of gross non-performing assets to gross advances jumped to 3.15% from 2.99% a year ago.

L.G.Balakrishnan & Bros Ltd surged 18.4% to Rs 556.80 after net profit in the fourth-quarter climbed 53.6% to Rs 13.79 crore and net sales jumped 7.4% to Rs 260.49 crore.

The company’s board of directors today approved 1-for-1 bonus proposal.

Tata Steel Limited increased 1.9% to Rs 460.70 after the company reported net in the fourth-quarter swung to profit Rs 1,035.87 crore compared to a loss of Rs 6,528.51 crore and revenues climbed 22.4% to Rs 42,428.05 crore.

For the year, the company reported profit of Rs 3,594.89 crore compared to a loss of Rs 7,057.62 crore and revenues jumped 10.3% to Rs 1,48,613.55 crore.

Tech Mahindra Ltd slipped 0.5% to Rs 1,829.75 after net profit in the fourth-quarter declined 39.2% to Rs 614.20 crore and revenue rose 3.2% to Rs 5,058.10 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