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Market Update

India Movers: Bharat Forge, Glenmark, H T Media, NDTV, Ranbaxy, Sintex


Author: Mukesh Buch
ticker.com
Last Update: 9:12 AM ET May 09 2014

6:00 PM Mumbai – Glenmark net tumbled 75 but revenue surged 27%. H T Media net swung to profit while NDTV sales dropped 30% and net swung to a loss. Ranbaxy net swung to a loss. Sintex net jumped 7%. Zuari Agro net swung to a profit.

Market indexes in Mumbai trading soared on strong foreign fund flows and rising expectations of a stronger central government led by Bhartiya Janata Party. The widely followed Sensex surged the most since September 2013.

The Sensex Index vaulted 650.19 or 2.9% to close at 22,994.23. The CNX Nifty soared 198.95 or 3% to close at 6,858.80. For the week, Sensex jumped 2.6%.

Trade Deficit, Exports and Imports Decline

April trade deficit edged lower to $10.1 billion from $10.5 billion in March and plunged from $17.7 billion in the month a year ago, ministry of commerce said today.

Exports dropped to a five-month low of $25.6 billion from $29.6 billion but higher from $24.35 billion in the month a year ago.

Imports declined to $35.7 billion from $40.08 billion in March and from $42.02 billion in the month a year ago.

Gainers & Losers

Bharat Forge Ltd climbed 3.5% to Rs 431.30 after the compay’s Germany-based subsidiary won a multi-year contract worth €250 million to supply suspension components.

Glenmark Pharmaceuticals Ltd dropped 2.2% to Rs 580.10 after net profit in the fourth-quarter tumbled 75% to Rs 43.07 crore and total revenue surged 27.1% to Rs 1,691.49 crore.

For the year, net profit declined 12.5% to Rs 542.27 crore and total revenue climbed 19.8% to Rs 6,016.68 crore.

H T Media Limited decreased 0.6% to Rs 91.30 after the company reported net in the fourth-quarter swung to a profit Rs 40.72 crore compared to a loss of Rs 92.97 crore while revenues jumped 4.3% to Rs 350.46 crore.

ITD Cementation India Limited plunged 14.4% to Rs 131.75 after the company reported net in the first-quarter swung to a loss Rs 10.26 crore compared to a profit of Rs 5.57 crore and revenue declined 9.2% to Rs 380.16 crore.

New Delhi Television Limited fell 0.1% to Rs 68.95 after the media company said net in the fourth-quarter swung to a loss Rs 16.48 crore compared to a profit of Rs 15.33 crore and revenue declined 30.4% to Rs 88.64 crore.

Ranbaxy Laboratories Limited slipped 1.3% to $463.60 after the company reported net in the fourth-quarter swung to a loss Rs 73.65 crore compared to a profit of Rs 125.75 crore and total revenue fell 1.7% to Rs 2,490.51 crore.

Sintex Industries Ltd climbed 4% to Rs 50.80 after net profit in the fourth-quarter jumped 7% to Rs 161.10 crore and net sales soared 42% to Rs 1,982.90 crore.

For the year, net profit rose 13% to Rs 364.70 crore and net sales climbed 15% to Rs 5,842.60 crore.

Zuari Agro Chemicals Ltd slid 0.08% to Rs 129.25 after the company reported net in the fourth-quarter swung to a profit Rs 147.19 crore compared to a loss of Rs 6.65 crore and sales soared 44.1% to Rs 1,487.43 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