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Market Update

Infrastructure and Vehicle Makers Show Rising Quarterly Sales in India


Author: Sarla Buch
ticker.com
Last Update: 9:10 AM ET November 03 2015

Infrastructure and Vehicle Makers Show Rising Quarterly Sales in India

6:00 PM Mumbai, India Scooter and motorcycle sales in October surged in India. Adani Power said loss narrowed but RPower said quarterly profit rose. ABB India net soared 31%. Berger Paints net soared 33%. Power Finance profit jumped 20% on 13% increases in revenues.

Stocks in Mumbai trading gained and the rupee edged lower as investors digested latest batch of earnings from power finance company and vehicle makers.

Rupee weakened 5 paisa to 65.64 against one U.S. dollar.

The Sensex Index rose 31.44 to close at 26,590.59. The CNX Nifty added 9.90 to 8,060.70.

Gainers & Losers

ABB India Limited decreased 1.5% to ₹1,254.80 after the automation technology company reported net in the third-quarter soared 31.1% from a year ago to ₹59 crore.

Net revenues in the quarter gained 6.7% to ₹1,969 crore.

Adani Power Limited dropped 2.7% to ₹30.75 after the power producer said net loss in the second-quarter narrowed from a year ago to ₹369.08 crore.

Net revenues in the quarter surged 38.5% to ₹5,783.90 crore.

Berger Paints India Limited gained 2.6% to ₹224.55 after the paint maker reported net in the second-quarter surged 32.7% from a year ago to ₹88.96 crore.

Net sales in the quarter increased 5.7% to ₹1,167.31 crore.

Hero MotoCorp Limited increased 1.2% to ₹2,580 after the largest two-wheeler maker said October sales jumped 11.2% to 625,420 units.

The company said domestic scooter sales in the month soared 74.6% to a record 108,000 units.

Jaypee Infratech Limited declined 5.1% to ₹12.39 after the infrastructure developer said net in the second-quarter swung from a year ago to a loss of ₹159.57 crore.

Net sales in the quarter plunged 60.5% to ₹337.77 crore.

Power Finance Corporation Limited advanced 2.9% to ₹249.70 after the government agency involved in financing power projects said net in the second-quarter soared 20.4% from a year ago to ₹1,695.30 crore.

Net sales in the quarter advanced 12.5% to ₹7,024.09 crore.

Reliance Power Limited edged down 0.7% to ₹49.45 after the power producer said net in the second-quarter surged 37% from a year ago to ₹346 crore.

Net sales in the quarter soared 52% to ₹2,856 crore.

SML Isuzu, Ltd gained 1% to ₹1,354.40 after the auto maker said October sales soared 41.51% to 784 vehicles.

TVS Motor Company Limited advanced 4.9% to ₹287.50 after the auto maker reported October sales jumped 14% to 274,622 units.

The vehicle maker said domestic two-wheeler sales in the month advanced 13% to 231,491 units and total exports jumped 20% to 41,682 units.

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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