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Market Update

India Movers: Atul, BEL, Cairn India, Novartis, Ranbaxy, Uco Bank, UPL


Author: Mukesh Buch
ticker.com
Last Update: 8:55 AM ET January 24 2014

6:00 PM Mumbai Atul revenue and profit surged. Bharat Electronics net slid 3%. Cairn India profit slid 14% and sales soared 17%. Novartis net plunged 47%. Ranbaxy plunged after US prohibited its drugs from its Toansa facility in Punjab. Uco Bank net tripled. UPL net climbed 52%.

The Sensex Index dropped 240.10 or 1.1% to close at 21,133.56. The CNX Nifty slumped 78.90 to close at 6,266.75. For the week, Sensex rose 0.3%.

Gainers & Losers

Atul Limited plummeted 5.6% to Rs 420.65 after net profit in the third-quarter surged 133.8% to Rs 65.24 crore and revenues soared 31.1% to Rs 592 crore.

Bharat Electronics Ltd fell 1.9% to Rs 981 after net profit in the third-quarter slid 2.9% to Rs 191.74 crore and total revenue plunged 18.3% to Rs 1,303.11 crore.

Cairn India Limited fell 0.1% to Rs 324.40 after net profit in the third-quarter tumbled 14% to Rs 2,884 crore and revenue surged 17% to Rs 5,000 crore.

Mahindra Lifespace Developers Ltd dropped 2.5% to Rs 388.50 after net profit in the third-quarter surged 70.6% to Rs 29 crore and total sales 18.2% to Rs 156 crore.

Novartis India Limited declined 4.1% to Rs 419.45 after net profit in the third-quarter plunged 47.5% to Rs 15.23 crore and net sales dropped 4.3% to Rs 218.54 crore.

Ranbaxy Laboratories Limited plunged 19% to Rs 336.50 after the U.S. Food and Drug Administration prohibited the company from producing and distributing drugs for the American market from its Toansa facility in Punjab.

Triveni Turbine Ltd slumped 4.1% to Rs 58 after net profit in the third-quarter plummeted 31.8% to Rs 20.80 crore and net sales 19.5% to Rs 140.90 crore.

Uco Bank slipped 2% to Rs 75.95 after net profit in the third-quarter surged 206.9% to Rs 314.53 crore and total revenue jumped 12.8% to Rs 4,919.04 crore.

At the end of December, ratio of net non-performing assets to net advances stood at 5.2% from 5.53% a year ago period.

The bank''s provisions and contingencies rose 11.54% to Rs 811.68 crore.

UPL Limited slid 1.1% to Rs 204.45 after net profit in the third-quarter climbed 52.2% to Rs 72.44 crore and sales increased 6.1% to Rs 1,117.59 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