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Market Update

L&T, REC, Tata Chemicals Net Soar; Coal India, Dena Bank Net Fall

Author: Mukesh Buch
Last Update: 10:28 AM ET November 10 2014

6:00 PM Mumbai Adani Power quarterly loss narrowed. Coal India net fell 28%. Dena Bank and IPCA net plunged 52%. L&T profit jumped 7%. Motherson net slipped 25%. REC net and revenue climbed. Tata Chemicals net surged 91% on 11% increase in revenues.

The Sensex Index edged up 6.10 to close at 27,874.73. The CNX Nifty rose 7.25 to 8,344.25.

Gainers & Losers

Adani Power Ltd dropped 2.4% to Rs 46.50 after the power producer said net loss in the second-quarter narrowed to Rs 799 crore compared to Rs 1,072 crore a year ago period and total revenue soared 36% to Rs 4,148 crore.

Coal India Ltd jumped 1.3% to Rs 349.25 after the largest coal miner said net profit in the second-quarter dropped 28.2% to Rs 2,192.38 crore and revenues rose 0.6% to Rs 17,700.12 crore.

Dena Bank plunged 5.3% to Rs 61.35 after the central government controlled lender said net profit in the second-quarter tumbled 52% to Rs 51.58 crore but total revenue climbed 11% to Rs 2,885.22 crore.

As of September, ratio of net non-performing assets to net advances stood at 3.59% compared to 2.02% in the same period a year ago and 2.94% in previous quarter.

IPCA Laboratories Ltd slumped 3.6% to Rs 637.25 after the maker of pharmaceutical ingredient net profit in the second-quarter plummeted 52.6% to Rs 61.30 crore and revenue dropped 7.4% to Rs 789.31 crore.

Larsen & Toubro Limited slipped 1.9% to Rs 1,620 after the engineering construction company said profit in the second-quarter jumped 7% to Rs 862 crore and gross revenue soared 10.4% to Rs 21,331 crore.

Motherson Sumi Systems Limited declined 4.1% to Rs 410.50 after the automotive rear view mirror maker net profit in the second-quarter plunged 25.2% to Rs 104.44 crore and net revenues climbed 10.7% to Rs 8,021.54 crore.

Rural Electrification Corporation Ltd fell 0.2% to Rs 301.30 after the renewable energy transmission company said net profit in the second-quarter climbed 35.1% to Rs 1,500.75 crore and total revenue surged 19.9% to Rs 5,066.27 crore.

Tata Chemicals Limited gained 1.2% to Rs 423.50 after the maker of iodised salt said net profit in the second-quarter climbed 91.2% to Rs 257.01 crore and total revenues jumped 10.5% to Rs 4,846.87 crore.

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