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Market Update

India Movers: BPCL, Bajaj, Coal India, Escorts, Hero, Hindalco, IOC, Tata


Author: Mukesh Buch
ticker.com
Last Update: 8:48 AM ET May 29 2014

6:00 PM Mumbai BPCL net declined 15% and IOC net plunged 35% despite higher government subsidies. Bajaj Electricals net swung to a loss. Coal India net plunged. Hero Motocorp profit slipped. Hindalco net declined 48%. NALCO profit dropped 30%.

The Sensex Index declined 321.94 or 1.3% to close at 24,234.15 The CNX Nifty dropped 94 to 7,235.65.

Gainers & Losers

Bharat Petroleum Corp Ltd slipped 0.9% to Rs 536.50 after net profit in the fourth-quarter declined 15.2% to Rs 4,068.37 crore and total revenues soared 12.5% to Rs 75,194.71 crore.

For the year, net profit climbed 53.6% to Rs 4,060.88 crore and total revenues jumped 8.2% to Rs 2,61,529.19 crore.

The company received compensation by way of government subsidy for Rs 18,374.28 crore compared to Rs 21,896.65 crore a year ago.

The company also received discount of Rs 15,576.78 crore on purchase of crude oil from ONGC, GAIL (India), NRL etc.

Bajaj Electricals Ltd plunged 13.6% to Rs 319.90 after the company reported net in the fourth-quarter swung to a loss Rs 10.65 crore compared to profit of Rs 0.63 crore and net sales climbed 15.4% to Rs 1,270.97 crore.

Coal India Limited dropped 1.8% to Rs 373.60 after net profit in the fourth-quarter plunged 18.1% to Rs 4,434.18 crore and total revenues increased 1.2% to Rs 22,382.35 crore.

For the year, net profit plummeted 12.9% to Rs 15,111.67 crore and total revenues rose 0.9% to Rs 77,779.40 crore.

Escorts Limited dropped 3.7% to Rs 121.85 after net profit in the fourth-quarter plunged 15.2% to Rs 31.78 crore and net sales fell 2% to Rs 977.17 crore.

Excel Crop Care Limited surged 9.2% to Rs 620.80 after net profit in the fourth-quarter surged 338.3% to Rs 10.65 crore and net sales climbed 18.9% to Rs 210.90 crore.

Hero Motocorp Ltd fell 0.4% to Rs 2,341.20 after net profit in the fourth-quarter slipped 3.4% to Rs 554.43 crore and net sales jumped 6.3% to Rs 6,455.70 crore.

Hindalco Industries Limited gained 1.4% to Rs 149.25 after net profit in the fourth-quarter declined 48.5% to Rs 248.15 crore and total revenues soared 19.7% to to Rs 8,647.53 crore.

For the year, net profit dropped 16.8% to Rs 1,413.33 crore and total revenues jumped 7.1% to Rs 28,975.35 crore.

Indian Oil Corporation Limited slid 0.7% to Rs 354.40 after net profit in the fourth-quarter tumbled 35.3% to Rs 9,389.85 crore and total revenues increased 5.3% to Rs 1,35,465.86 crore.

For the year, net profit rose 40.2% to Rs 7,019.09 crore and total revenues jumped 5.8% to Rs 4,76,627.38 crore.

The oil refiner accounted for budgetary support of Rs 3,73,182.27 crore from the government compared to Rs 53,278.07 crore from 2013.

National Aluminium Company Limited dropped 0.8% to Rs 51.25 after net profit in the fourth-quarter plummeted 29.9% to Rs 172.45 crore and revenue rose 0.6% to Rs 1,973.59 crore.

Tata Global Beverages Ltd declined 4.6% to Rs 149 after net profit in the fourth-quarter declined 27.6% to Rs 69.30 crore and sales increased 3.2% to Rs 1,926.15 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