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Market Update

Largest Weekly Loss in India Stocks in Two Months, Godrej Net Soars

Author: Mukesh Buch
Last Update: 9:27 AM ET February 06 2015

6:00 PM Mumbai Godrej said net surged 35% on 13% increase in revenues. Hindustan Copper net plunged 85%. IDBI Bank net slid 1% but revenues jumped 11%. Tata Chemicals net swung to profit. Tata Motors net fell 25%.

Stocks declined for the sixth day in a row in Mumbai and the Sensex dropped the most in a week in two months.

The selling in stocks were led by auto and banking sector stocks and market indexes suffered worst weekly loss in eight months after banks reported rising bad loans reserves.

Indian rupee closed at 61.69 against one dollar.

The Sensex Index slipped 133.06 or 0.5% to close at 28,717.91. The CNX Nifty decreased 50.65 or 0.6% to 8,661.05.

For the week, Sensex declined 1.6% and CNX Nifty dropped 1.7%.

Gainers & Losers

Apar Industries Limited plunged 7.4% to ₹330.05 after the power transmission company said net in the third-quarter spurted 82.4% to ₹2.57 crore.

Total revenues soared 20.26% to ₹1,298.79 crore.

Godrej Consumer Products Ltd climbed 4.1% to ₹1,121.75 after the personal care product maker said net in the third-quarter surged 34.63% to ₹263.57 crore.

Net sales soared 12.5% to ₹2,225.82 crore.

Hindustan Copper Limited fell 1.5% to ₹70.15 after the central government controlled copper producer reported net in the third-quarter plummeted 84.64% to ₹10.59 crore.

Total revenues plunged 42.14% to ₹257.17 crore.

IDBI Bank Limited rose 0.2% to ₹65.80 after the financial service provider reported net in the third-quarter slid 1.12% to ₹102.79 crore.

Total revenues jumped 11% to ₹7,936 crore.

Shasun Pharmaceuticals Limited declined 2.9% to ₹259.90 after the pharmaceutical product maker said net in the third-quarter plunged 57% to ₹6.14 crore.

Net revenues slid 0.1% to ₹325 crore.

Tata Chemicals Limited dropped 2.9% to ₹448.85 after the second-biggest soda-ash maker reported net in the third-quarter swung to profit ₹238.12 crore compared to a loss of ₹15.93 crore.

Net sales increased 3.69% to ₹4,719.29 crore.

Tata Communications Limited decreased 1.6% to ₹400 after the communications solution provider acquired a multi-year contract worth $20 million from the Germany-based KION Group.

Tata Motors Limited declined 5.1% to ₹559.75 after the truck and motor vehicle maker reported net in the third-quarter tumbled 25.48% to ₹3,580.72 crore.

Total revenues advanced 9.66% to ₹70,195.23 crore.

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