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Market Update

India Movers: Hathway Cable, Jaiprakash Power, McNally, Siemens, Unitech

Author: Mukesh Buch
Last Update: 10:00 AM ET August 20 2013

6:00 PM Mumbai Empee Sugars net loss narrowed and HCL profit surged 130%. Hathway Cable net swung to a profit. Jaiprakash Power sells its stake in two hydro-power projects. McNally secured order worth $160 million. Siemens India won contracts in Bangladesh.

The Sensex Index slid 74.58 or 0.4% to close at 18,232.94 The CNX Nifty fell 13.30 to close at 5,401.45.

Gainers & Losers

Empee Sugars and Chemicals Ltd declined 3.4% to Rs 4.25 after the first quarter net loss narrowed to Rs 4.11 crore compared to Rs 8.09 crore in the same quarter a year ago.

Sales in the quarter slipped 2.6% to Rs 74.82 crore.

Hindustan Composites Limited, the fiber-based composite materials maker said in the quarter net profit surged 129.6% to Rs 5.35 crore and sales jumped 30.3% to Rs 35.15 crore.

Hathway Cable and Datacom Limited increased 1.1% to Rs 269.85 after the net swung to a profit Rs 5.32 crore compared with a loss of Rs 15.87 crore in a same quarter last year.

For the quarter, total revenues soared 72.2% to Rs 231.83 crore.

Jaiprakash Power Ventures Limited jumped 4.8% to Rs 13.87 and the company plans to sell its stake in of two hydro-power projects in Himachal Pradesh.

Mahindra & Mahindra Financial Services Limited declined 3.7% to Rs 235.40 and the company decided not to pursue banking license.

McNally Bharat Engineering Company Limited climbed 5.3% to Rs 45.75 after the company secured an order for thermal power project worth Rs 973 crore.

Rainbow Denim Limited, the denim fabric maker reported net loss in the first quarter widened to Rs 5.56 crore compared with Rs 1.43 crore a year period.

For the quarter, the company said revenue plunged 20% to Rs 32.30 crore.

Siemens Limited gained 2.2% to Rs 441.90 after wins contracts worth Rs 144 crore from the Rural Electrification Board, Bangladesh to construct 38 new 33/11 kilowatt substations.

Siti Cable Network Limited slipped 2.9% to Rs 13.30 after net loss in the first quarter widened to Rs 25.49 crore compared with Rs 13.51 crore in the same quarter last year.

Sales in the quarter climbed to 18.1% to Rs 118.20 crore.

Unitech Limited surged 8.6% to Rs 17.60 after the company narrowed the list to two buyers to bid for its 36 lakh square feet IT special economic zone in Gurgaon.

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