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Market Update

India Movers: Essar Oil, Mangalore Refinery, NIIT, VIP, ZF Steering

Author: Mukesh Buch
Last Update: 8:43 AM ET May 21 2014

6:00 PM Mumbai – Essar Oil soared after net climbed four-fold. MRPL surged after net swung to profit. Manjushree Technopack net jumped 73%. NIIT net surged four-fold. Readymade Steel secured a piling contract worth Rs 150 crore in Singapore. VIP profit soared 217%.

The Sensex Index fell 78.86 or 0.3% to close at 24,298.02 The CNX Nifty slid 22.60 to 7,252.90.

Gainers & Losers

Essar Oil Ltd soared 15.3% to Rs 89.50 after net profit in the fourth-quarter climbed 404.6% to Rs 1,008 crore and revenue jumped 7.5% to Rs 2,7691 crore.

For the year, net swung to profit Rs 126 crore compared to a loss of Rs 1,180 crore and revenue jumped 10.7% to Rs 1,07,190 crore.

Mangalore Refinery & Petrochemicals Ltd climbed 11.1% to Rs 75.25 after the state controlled oil refiner reported net in the fourth-quarter swung to profit Rs 1,067.04 crore compared to a net loss of Rs 61.90 crore and total revenues jumped 6.4% to Rs 19,863.99 crore.

The company said net in the year swung to profit Rs 601.18 crore from a net loss of Rs 756.91 crore and total revenues climbed 9.6% to Rs 72,134.95 crore.

Manjushree Technopack Ltd jumped 3.4% to Rs 231 after net profit in the fourth-quarter net profit climbed 73.2% to Rs 11.24 crore and sales surged 19.2% to Rs 125.98 crore.

NIIT Limited surged 15.7% to Rs 41 after net profit in the fourth-quarter surged 415% to Rs 14 crore and net revenue increased 5% to Rs 232.90 crore.

Readymade Steel India Ltd climbed 4.4% to Rs 300.55 after the company’s Singapore-based subsidiary has secured a piling contract worth S$31 million or Rs 150 crore.

Sunflag Iron & Steel Company Ltd slid 0.6% to Rs 23.50 after net profit in the fourth-quarter plunged 22.8% to Rs 11.15 crore and net sales climbed 11.9% to Rs 425.38 crore.

VIP Industries Ltd gained 2.2% to Rs 108.65 after net profit in the fourth-quarter climbed 217.2% to Rs 20.30 crore and net sales soared 21.5% to Rs 226.60 crore.

ZF Steering Gear India Ltd surged 20% to Rs 389.50 after net profit in the fourth-quarter soared 294.2% to Rs 9.54 crore and net sales increased 4.5% to Rs 81.26 crore.

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