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Market Update

India Movers: Central Bank, Cairn India, IOB, Maruti, MRF, Novartis, Zee

Author: Mukesh Buch
Last Update: 9:33 AM ET July 25 2013

6:00 PM Mumbai Central Bank net tumbled as revenue declined. Cairn India profit dropped but revenues climbed. IOB net for the quarter declined but revenues jumped. Maruti Suzuki and MRF profit surged on higher sales. Novartis India net declined and Zee Entertainment net soared.

The Sensex Index declined 285.92 or 1.4% to close at 19,804.76 The CNX Nifty dropped 83 or 1.4% to close at 5,907.50.

Gainers & Losers

Ador Welding Limited tumbled 12.6% to Rs 101.10 after net profit in the first quarter plunged 64.2% to Rs 1.62 crore and net sales plummeted 19% to Rs 68.08 crore.

Central Bank of India slipped 8.2% to Rs 56.95 after first quarter net profit tumbled 93.5% to Rs 21.93 crore and revenue advanced 14.6% to Rs 6,443.45 crore.

Cairn India Limited fell 1% to Rs 304.70 after first quarter consolidated net profit slipped 18% to Rs 3,127 crore and revenue decreased 8% to Rs 4,063 crore.

Indian Overseas Bank declined 3.6% to Rs 45.60 after net profit in the first quarter declined 46.1% to Rs 125.80 crore and revenue jumped 14.5% to Rs 6,187.15 crore.

For the first quarter, operating profit jumped 24.5% to Rs 1,054.42 crore and non-interest income including profit on sale of investments surged 108.3% to Rs 784.52 and Net interest margin stood at 2.24%.

Maruti Suzuki India Limited slid 0.1% to Rs 1,414.20 after net profit in the first quarter surged 49.1% to Rs 631.61 crore and total revenue rose 4.1% to Rs 10,441.64.

MRF Limited rose 0.45% to Rs 13,876.55 after third quarter net profit surged 57.2% to Rs 227.28 crore and revenue grew 1.6% to Rs 3,060.04 crore.

Novartis India Limited climbed 6.3% to Rs 441.65 after net profit in the first quarter declined 48.6% to Rs 13.87 crore and net sales increased 1.7% to Rs 219.03 crore.

Zee Entertainment Enterprises Limited advanced 6.3% to Rs 259.65 after consolidated net profit in the first quarter soared 42% to Rs 244.64 crore and total income climbed 19.7% to Rs 1,045.42 crore.

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