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Market Update

India Movers: Balkrishna, DCM, Mysore Paper Mills, PNB

Author: Mukesh Buch
Last Update: 9:27 AM ET September 04 2014

6:00 PM Mumbai Balkrishna Ind net jumped 13% and net sales surged 17%. DCM net swung to a loss but revenue climbed 8%. Mysore Paper Mills dropped after net loss widened. Punjab National Bank raised Rs 500 crore through a bond offering. United Spirits fell after net swung to a big loss.

The Sensex Index fell 54.01 or 0.2% to close at 27,085.93 The CNX Nifty slid 18.65 to 8,095.95.

Gainers & Losers

Balkrishna Industries Limited climbed 2.9% to Rs 770.75 after net profit in the first-quarter jumped 12.7% to Rs 115.41 crore and net sales surged 17.4% to Rs 948.07 crore.

DCM Ltd fell 0.8% to Rs 80.05 after the company reported net in the fourth-quarter swung to a loss of Rs 11.28 crore from profit of Rs 6.02 crore and sales climbed 7.6% to Rs 227.48 crore.

The Mysore Paper Mills Ltd dropped 2.9% to Rs 4.74 after net loss in the fourth-quarter widened to Rs 23.70 crore compared to Rs 21.19 crore and revenues soared 37.9% to Rs 122.93 crore.

Punjab National Bank slipped 1.8% to Rs 943.35 after the bank raised Rs 500 crore Tier-II Basel III compliant bonds on private placement basis.

The bonds carry an annual coupon of 9.35% and the bonds are issued today.

United Spirits Ltd slid 0.4% to Rs 2,390.25 after the company reported net in the fourth-quarter swung to a loss of Rs 5,102.82 crore compared to profit of Rs 320.80 crore and revenue increased 1.6% to Rs 8,516.60 crore.

For the year, net loss widened to Rs 4,489.08 crore from Rs 101.20 crore and revenue rose 1.1% to Rs 10,615.41 crore.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc