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Market Update

India Movers: Infosys Reiterates Outlook, Net Drops 4%

Author: Mukesh Buch
Last Update: 10:40 AM ET July 11 2014

6:00 PM Mumbai Britannia sold its factory land in Chennai for Rs 172 crore. Cera Sanitaryware net climbed 22% and revenue soared 28%. Himachal Futuristic sales and profit surged. Infosys net profit dropped 4% and helds fiscal outlook. Jay Bharat Maruti net jumped 33%.

The Sensex Index dropped 348.40 or 1.4% to close at 25,024.35 The CNX Nifty slumped 108.15 to 7,459.60. For the week, Sensex declined 3.6%.

Gainers & Losers

Britannia Industries Ltd fell 1.3% to Rs 984.15 after the company sold its factory land located in Chennai for Rs 172 crore.

Cera Sanitaryware Ltd declined 5.5% to Rs 1,202.05 after net profit in the first-quarter climbed 21.9% to Rs 13.63 crore and total revenues soared 28.2% to Rs 162.33 crore.

Himachal Futuristic Communications slumped 4.8% to Rs 15 after net profit in the first-quarter surged 354.3% to Rs 69.47 crore and in net sales jumped 139.5% to Rs 618.82 crore.

Infosys Ltd gained 1% to Rs 3,325.80 after net profit in the first-quarter fell 3.5% to Rs 2,886 crore and revenue declined 0.8% to Rs 12,770 crore.

For the fiscal 2015, the company forecasted consolidated revenue in dollar terms to increase between 7% and 9% from $8.25 billion a year ago.

Revenues in rupees are expected grow in the range of 5.6% to 7.6%, as projected in April.

Jay Bharat Maruti Ltd dropped 2.1% to Rs 87.75 after net profit in the first-quarter jumped 32.8% to Rs 6.76 crore and total sales climbed 9.9% to Rs 309.95 crore.

Tata Motors Limited slipped 1.6% to Rs 445.50 after the company''s U.K. based luxury car unit Jaguar Land Rover reported sales in the first-half climbed 14% to 240,372 vehicles from a year ago period.

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