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Market Update

India Movers: BHEL, JSW Steel, SBI, Thermax, Unitech


Author: Mukesh Buch
ticker.com
Last Update: 9:20 AM ET May 23 2013

6:00 PM Mumbai BHEL sales slid 2% and JSW Steel profit declined 62% and revenues fell 3%. SBI quarterly net dropped 37% and non-performing assets climbed to 4.75%. Thermax profit and revenue dropped. TVS Srichakra quarterly profit surged.

The Sensex Index declined 387.91 or 1.9% to close at 19,674.33 The CNX Nifty dropped 127.45 or 2.1% to close at 5,967.05.

Gainers & Losers

Bharat Heavy Electricals Limited declined 3.7% to Rs 195.80 after net profit in the fourth quarter decreased 4.2% to Rs 3,237.54 crore to net sales fell 2.2% to Rs 18,850.16 crore.

For the quarter, revenue from power segment were flat at Rs.15,539.18 crore and revenue from industry segment declined 7% to Rs.4,340.92 crore.

For the year, net profit dropped 6% to Rs 6,614.73 crore and net sales rose 0.6% Rs 49,546.36 crore.

The company''s board recommended a final dividend increase of 164.5% or Rs 3.29 per share.

JSW Steel Limited rose 0.5% to Rs 688.10 after net profit in the fourth quarter declined 61.6% to Rs 265.91 crore and revenues fell 3% to Rs 9,851.54crore.

For the year, net profit plunged 69% to Rs 963.11crore.

Kaveri Seed Co Ltd declined 3% to Rs 1,229.80 after net profit in the quarter jumped nearly four-fold to Rs 11.13 crore and revenues surged 83% to Rs 65.64 crore.

NCC Limited tumbled 9% to Rs 31.25 after consolidated net profit in the fourth quarter surged 167% to Rs 12.31 crore and revenues decreased 1.1% to Rs 2,032 crore.

For the year, consolidated net profit rose 2.7% to Rs 56.38 crore and revenues advanced 4.5% to Rs 6,968 crore.

As of March, total order book of infrastructure developer stood at Rs 18,555 crore.

State Bank of India plunged 7.9% to Rs 2,176.20 after net profit in the fourth quarter declined 18.5% to Rs 3,299.22 crore and total interest income jumped 6.98% to Rs 36,330.87 crore.

For the year, net profit surged 20.5% to Rs 14,104.98 crore and total interest income jumped 12.3% to Rs 1,35,691.94 crore.

The gross non-performing assets climbed to 4.75% at the end of March from 4.4% and provisions and contingencies climbed 33.1% to Rs 4,180.99 crore.

Schneider Electric Infrastructure Limited declined 4.8% to Rs 76.60 after the fourth quarter net swung to loss Rs 9.86 crore compare to net profit of Rs 6.44 crore. Sales advanced 5.6% to Rs 300.90 crore.

For the year, net swung to loss Rs 28.07 from net profit of Rs 39.76 crore. Sales fell 2.7% to Rs 1,302.31 crore.

Thermax Limited gained 0.9% to Rs 593.85 after the fourth quarter net profit declined 11.2% to Rs 115.32 crore and net sales dropped 12.8% to Rs 1,448.73 crore.

For the year, net profit tumbled 14% to Rs 349.96 crore and net sales decline 11.7% to Rs 4,631.85 crore.

In the quarter, as of March order book stood at Rs. 1,155 crore and for the year order book stood Rs. 4,859 crore.

TVS Srichakra Limited rose 0.8% to Rs 187 after net profit in the fourth quarter jumped 240.9% to Rs 33.54 crore and sales increased 5.9% to Rs 368.48 crore.

For the year, net profit dropped 10.2% to Rs 35.68 crore and sales rose 4.8% to Rs 1,463.27 crore.

Technocraft Industries (India) Limited plunged 11.4% to Rs 62.05 after the fourth quarter net profit soared 130.7% to Rs 9.99 crore and sales climbed 16.3% to Rs 156.42 crore.

For the year, net profit surged 253.72% to Rs 64.73 crore and sales climbed 19.5% to Rs 593.65 crore.

Unitech Limited plunged 10.9% to Rs 25.20 after the HSBC sold 20 lakh shares in real estate developer through open market transactions.

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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