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Market Update

India Movers: Dewan Housing, HDFC, Shriram Finance

Author: Mukesh Buch
Last Update: 10:06 AM ET May 08 2013

6:00 PM Mumbai – Corporation Bank net rose 1.2% and Dewan Housing net doubled. Glenmark net jumped 11% and Housing Development Finance net climbed 17%. Jubilant and KEC Intl reported quarterly loss. Ranbaxy net tumbled 90% and Shriram Transport net climbed 17%.

The Sensex Index gained 101.23 or 0.5% to close at 19,990.18 The CNX Nifty rose 25.75 to close at 6,069.30.

Gainers & Losers

Bajaj Finance Limited jumped 6.2% to Rs 1,360.50 and the stock was the second biggest gainer in ''A'' group ahead of its earnings release on May 15.

Brigade Enterprises Limited soared 6.8% to Rs 78.20 after net profit in the fourth quarter jumped 255% to Rs 28.40 crore.

Corporation Bank surged 6.8% to Rs 402.70 after fourth quarter net profit rose 1.2% to Rs 355.53 crore and total income climbed 15.6% to Rs 4635.49 crore.

For the year, net profit fell 4.7% to Rs 1,434.67 crore.

The net non-performing assets stood at 1.19% at the end of March compared to 0.87% a year earlier and provisions and contingencies rose 36.19% to Rs 459.92 crore.

Dewan Housing Finance Corporation Limited gained 3.8% to Rs 180.10 after net profit in the fourth quarter surged 109.7% to Rs 196.94 crore.

The company sanctioned housing loans during the year amounted to Rs 17,336.85 crore, an increase of 35%.

Glenmark Pharmaceuticals Limited rose 0.9% to Rs 525.40 after consolidated net profit in the fourth quarter jumped 10.9% to Rs 166.79 crore.

Housing Development Finance Corporation Limited climbed 3.9% to Rs 885.60 after net profit in the fourth quarter climbed 17.3% to Rs 1,555.21 crore and for the year net profit rose 17.6% to Rs 4,848.34 crore.

Jubilant Life Sciences Limited declined 8.5% to Rs 162.95 after the company reported consolidated net loss in the fourth quarter of Rs 31 crore.

Consolidated profit after tax excluding extraordinary items dropped 20.5% to Rs 66 crore

KEC International Limited plunged 8% to Rs 48.75 after the company reported fourth quarter consolidated net swung to a loss of Rs 14 crore from net profit of Rs 74 crore.

Oracle Financial Services Software Limited slumped 3.9% to Rs 2,602.95 after net profit jumped 45% to Rs 281.30 crore and total revenue rose 2% to Rs 881.50 crore.

Ranbaxy Laboratories Limited dropped 2.8% to Rs 443.80 after first quarter consolidated net profit tumbled 89.9% to Rs 125.75 crore and net sales of the company declined to Rs 2,439.82 crore compared to Rs 3,708.97 crore in the same period of last year.

The company had exclusive rights of generic drug version of cholesterol “Lipitor” in the US during the same quarter a year ago.

Shriram Transport Finance Company, Ltd slid 0.7% to Rs 736.90 after consolidated net profit in the fourth quarter climbed 16.6% to Rs 383.46 crore and consolidated net interest income jumped 12.76% to Rs 952.10 crore.

Company''s total assets under management surged 25.1% to Rs 52,717.18 crore as on March 31.

UCO Bank declined 3.7% to Rs 70.70 after net profit plunged 80.4% to Rs 49.55 crore and operating income advanced 7.4% to Rs 4527.06 crore.

The bank''s ratio of net non-performing assets stood at 3.17% at the end of March compared to 3.48% a year ago quarter.

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