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.