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Market Update

India Movers: Atlanta, Bajaj, Airtel, Federal Bank, ONGC, Kotak Mahindra


Author: Mukesh Buch
ticker.com
Last Update: 10:09 AM ET July 16 2014

6:00 PM Mumbai – Bajaj Finance profit and revenues climbed. Bharti Airtel sold its Beetel Teletech to the U.S.-based Brightstar. Federal Bank net surged 108%. Kotak Mahindra Bank net jumped 7%.

The Sensex Index climbed 321.07 or 1.3% to close at 25,549.72 The CNX Nifty jumped 97.75 to 7,624.40.

Gainers & Losers

Atlanta Limited climbed 7.2% to Rs 66.20 after the company secured road maintenance order from National Highways Authority of India.

Bajaj Finance Ltd edged up 0.1% to Rs 2,186.70 after net profit in the first-quarter climbed 20% to Rs 211 crore and total revenue soared 34% to Rs 1,246 crore.

As of June, the total loans outstanding jumped 48% to Rs 9,266 crore.

Bharti Airtel Limited rose 0.6% to Rs 336.25 after the company sold a stake in its subsidiary Beetel Teletech to the U.S.-based Brightstar, for an undisclosed amount.

The Federal Bank Limited gained 0.9% to Rs 125.20 after net profit in the first-quarter surged 108.4% to Rs 220.23 crore and total revenues jumped 3.2% to Rs 1,928.04 crore.

As of June, the bank’s ratio of gross non-performing assets to gross advances dropped to 2.22% from 3.51% a year ago.

Oil & Natural Gas Corporation Limited gained 0.9% to Rs 416.10 after the central government is scheduled to decide on the stake sales of 5% valued at $3 billion in August.

OnMobile Global Limited surged 7.1% to Rs 36.75 after the company divested its French subsidiary Voxmobili S.A to Synchronoss Technologies Inc. for $26 million.

Kotak Mahindra Bank Limited increased 1.5% to Rs 884.25 after net profit in the first-quarter jumped 6.7% to Rs 429.80 crore and total revenues rose 1.3% to Rs 2,686.11 crore.

Steel Strips Wheels Ltd jumped 2.6% to Rs 295.20 after the company won a repeat export order from Russia-based company to supply 25,000 wheels for passenger cars.

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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