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Market Update

India: Bharti, HDFC, Idea Cellular Net climb; Ambuja Net Falls


Author: Mukesh Buch
ticker.com
Last Update: 8:17 AM ET April 29 2015

6:00 PM Mumbai – Market indexes extended losses in Mumbai despite rising earnings from two largest wireless telecom services providers. Bharti Airtel net climbed 31% and Idea Cellular quarterly net surged 60%. Ambuja Cements revenues declined 8%. HDFC quarterly net soared 8%.

Market weakness on Dalal Street continued despite better than expected earnings from Idea Cellular, Shriram City and Tata Elxsi.

Rupee weakened 16 paisa to 63.31.

The Sensex Index slipped 170.45 or 0.6% to close at 27,225.93. The CNX Nifty fell 45.85 or 0.6% to 8,239.75.

Gainers & Losers

Ambuja Cements Ltd climbed 3.5% to ₹238.85 after the cement maker said net in the first-quarter plunged 38.9% to ₹317.69 crore.

Net revenues in the quarter dropped 8% to ₹2,558.14 crore.

Bharti Airtel Limited dropped 3.3% to ₹387.50 after the largest wireless services provider reported net in the fourth-quarter climbed 30.54% to ₹1,255.30 crore.

Total revenues in the quarter increased 3.5% to ₹23,039.80 crore.

Housing Development Finance Corporation Ltd slipped 2.5% to ₹1,197.45 after the housing finance loan provider said net in the fourth-quarter advanced 8.1% to ₹1,862.43 crore.

Net revenues in the quarter jumped 12.16% to ₹7,456.43 crore.

Idea Cellular Limited declined 5.1% to ₹181.75 after the wireless service provider said net in the fourth-quarter soared 59.7% to ₹941.77 crore.

Net revenues in the quarter climbed 21.4% to ₹8,608.91 crore.

IVRCL Limited advanced 2.4% to ₹14.80 after the infrastructure developer secured two contracts worth ₹405.23 crore.

The company added first order from Dream World Landmarks LLP for ₹110.02 crore in Pune and another order from Odisha Water Supply and Sewerage Board for ₹295.11 crore in Bhuvaneshwer.

KPIT Technologies Limited plunged 19.9% to ₹124.05 after the software developer said net in the fourth-quarter declined 23% to ₹50.31 crore.

Net sales in the quarter decreased 2.15% to ₹762.99 crore.

Motherson Sumi Systems Limited jumped 3.4% to ₹479.55 after the auto components maker received an order worth “₹15,400 crore” from Germany-based Daimler.

The company is expected to begin shipment of external and internal systems for Mercedes Benz next generation of vehicles from 2018 for an unspecified duration.

The auto component maker estimated the value of the contract at ₹15,400 crore over the life of the contract.

Shriram City Union Finance Ltd rose 0.3% to ₹1,919.35 after the financial services provider said net in the fourth-quarter rose 2.66% to ₹155.38 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