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Market Update

India Movers: Wipro Wins a Contract in Canada, Zee Net Falls 6%


Author: Mukesh Buch
ticker.com
Last Update: 9:43 AM ET July 18 2014

6:00 PM Mumbai – Bajaj Holdings net soared 18%. Greenply profit surged 34%. MindTree net climbed 31%. Seamec won a five-year contract worth $15 million from ONGC. Wipro secured contracts of ten years from ATCO in Canada and Australia. Zee net declined 6% but revenue jumped 8%.

The Sensex Index gained 80.40 or 0.3% to close at 25,641.56 The CNX Nifty rose 23.45 to 7,663.90. For the week, Sensex climbed 2.5%.

Gainers & Losers

Adani Enterprises Ltd rose 0.7% to Rs 454.80 after the company’s subsidiary Adani Mining Pty and POSCO E&C signed a binding agreement to develop a rail line in Galilee Basin, Queensland.

Bajaj Holdings And Investment Ltd increased 1.3% to Rs 1,263.95 after net profit in the first-quarter soared 17.8% to Rs 522 crore and total revenue surged 24.1% to Rs 175 crore.

Greenply Industries Ltd soared 9.4% to Rs 819.90 after net profit in the first-quarter surged 33.9% to Rs 30.22 crore and revenue jumped 7.5% to Rs 517.08 crore.

Muthoot Finance Ltd climbed 3.8% to Rs 186.20 after the company plans to apply for a small bank license.

MindTree Ltd gained 0.8% to Rs 887.45 after net profit in the first-quarter climbed 31.5% to Rs 129.40 crore and revenue increased 2.4% to Rs 843.50 crore.

Seamec Ltd increased 1.7% to Rs 109 after the company said it won a five-year contract worth $15.26 million from Oil and Natural Gas Corporation.

Rallis India Limited slid 0.3% to Rs 216.95 after net profit in the first-quarter soared 35% to Rs 37 crore and net sales climbed 14% to Rs 465 crore.

Sasken Communication Technologies Ltd gained 0.8% to Rs 310.05 after net profit in the first-quarter plunged 52.3% to Rs 8.36 crore and revenue dropped 6.3% to Rs 108.19 crore.

Wipro Limited jumped 1.8% to Rs 547.70 after the company won a contract to provide total outsourcing solutions to ATCO in Canada and Australia.

The annual contract will increase revenues by $112 million for each of the next ten years.

Zee Entertainment Enterprises Limited dropped 2.6% to Rs 293 after net profit in the first-quarter declined 6.3% to Rs 210.57 crore and revenues climbed 7.6% to Rs 1,124.65 crore.

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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