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Market Update

India Movers: Escorts, Idea, Maruti Net Climb; JSW Steel Swings to Profit


Author: Mukesh Buch
ticker.com
Last Update: 9:57 AM ET January 28 2014

6:00 PM Mumbai Escorts climbed 62% and revenue jumped 12%. Idea net doubled. IPCA Lab profit soared 58%. JSW Steel net swung to a profit after revenue surged 53%. Maruti Suzuki net soared 36% and plans for expansion in Gujarat.

The Sensex Index fell 23.94 to close at 20,683.51. The CNX Nifty slid 9.60 to close at 6,126.25.

Gainers & Losers

Dhunseri Petrochem & Tea Ltd gained 0.6% to Rs 105.50 after net profit in the third-quarter surged to Rs 22.22 crore and sales soared 77.9% to Rs 1,054.28 crore.

Escorts Limited jumped 2.8% to Rs 122.65 after net profit in the third-quarter advanced 61.9% to Rs 45.56 crore and net sales climbed 12.5% to Rs 1,154.45 crore.

Idea Cellular Limited declined 4.1% to Rs 139.30 after net profit in the third-quarter jumped 104.6% to Rs 467.70 crore and revenue surged 18.5% to Rs 6,613.10 crore.

IPCA Laboratories Ltd climbed 3.9% to Rs 798.30 after net profit in the third-quarter surged 58% to Rs 139.12 crore and total revenue soared 19% to Rs 838.37 crore.

The company said export income in the quarter jumped 19% to Rs 526.93 crore.

JSW Steel Limited increased 1.6% to Rs 930 after company reported net in the third-quarter swung to profit Rs 466.49 crore compared to a net loss of Rs 73.70 crore a year ago.

Total revenue in the quarter surged 53.3% to Rs 13,637.21 crore.

Jindal Steel & Power Limited gained 1.9% to Rs 258.65 after net profit in the third-quarter soared 24.2% to Rs 561.51 crore and total revenue jumped 7.9% to Rs 5,377.37 crore.

Just Dial Limited plummeted 12.6% to Rs 1,287.85 after net profit in the third-quarter increased 3.8% to Rs 29.75 crore and revenue jumped 6.4% to Rs 119.86 crore.

Maruti Suzuki India Ltd plunged 8.1% to Rs 1,563.20 after net profit in the third-quarter soared 35.9% to Rs 681.15 crore and net sales fell 3% to Rs 10,619.70 crore.

Maruti said sales in the quarter dropped 4.4% to 2,88,151 units and exports tumbled 38.6% to 19,966 units from a year ago.

The company plans to implement expansion project in Gujarat as a 100% subsidiary of Suzuki.

Osamu Suzuki, the chairman of the Suzuki Motor Corporation said ""The company will be named Suzuki Motor Gujarat Pvt. Ltd with a starting capital of Rs 100 crore"" and will not be listed on any stock exchange and start operating from April.

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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