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Market Update

India Movers: Dena Bank, Godrej, HCC, RCom, TV18, United Bank


Author: Mukesh Buch
ticker.com
Last Update: 8:40 AM ET February 10 2014

6:00 PM Mumbai Dena Bank net declined 67%. Godrej profit tumbled 64% but revenue climbed 18%. Hindustan Construction won orders worth Rs 725 crore in various business segments. RCom net rose 3% and revenue grew 2%. Sun TV net fell 2%. TV18 net soared. United Bank net swing to a loss.

The Sensex Index slid 42.29 to close at 20,334.27. The CNX Nifty fell 9.75 to close at 6,053.45.

Gainers & Losers

Avanti Feeds Ltd soared 20% to Rs 344.20 after net profit in the third-quarter surged 374.4% to Rs 22.44 crore and net sales climbed 100.8% to Rs 274.43 crore.

Dena Bank slipped 2.7% to Rs 52.95 after net profit in the third-quarter declined 67.2% to Rs 67.80 crore and revenue jumped 10.6% to Rs 2662.80 crore.

The bank said ratio of gross non-performing assets to gross advances for the quarter decreased to 2.96% compared to 3% in second-quarter and from 2.09% from a year ago.

Godrej Industries Limited dropped 3.9% to 268.95 after net profit in the third-quarter tumbled 64% to Rs 65 crore and total revenue climbed 18% to Rs 2,033 crore.

Hindustan Construction Company Limited gained 1.2% to Rs 13.09 after the company won orders worth Rs 725 crore in various business segments.

Reliance Communications Ltd declined 3.9% to Rs 120.35 after net profit in the third-quarter rose 2.7% to Rs 108 crore and revenue grew 1.9% to Rs 5,403 crore.

Sun TV Network Limited rose 1.2% to Rs 358.80 after net profit in the third-quarter fell 2.2% to Rs 185.79 crore and total revenue jumped 5.4% to Rs 523.19 crore.

TV18 Broadcast Limited jumped 2.7% to Rs 22.55 after net profit in the third-quarter soared 142.72% to Rs 51.70 crore and revenue increased 2.5% to Rs 525.50 crore.

United Bank of India plunged 6.3% to Rs 26.80 after the bank reported net in the third-quarter swing to a loss Rs 1,238.08 crore compared to a net profit of Rs 42.20 crore.

Total revenue for the quarter climbed 14.9% to Rs 2,986.80 crore.

The bank said ratio of gross non-performing assets to gross advances for the quarter soared to 10.82% compared to 7.52% in second-quarter and from 4.42% from a year ago.

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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