Lows in Oil, Gold to Help India’s Trade; Dabur, Yes Bank Net Rises
6:00 PM Mumbai – Dabur said quarterly profit climbed 24% on 11% increase in revenues. Pidilite net soared 34%. Godrej Consumer Products net surged 39%. Yes Bank profit climbed 28%. SpiceJet net swung to profit.
Market indexes in Mumbai rose and rupee struggled near its recent low as crude oil decline extends deeper and commodities remained depressed.
Crude oil is trading down 55% from a year ago and a price of barrel traded in New York around $47 a barrel and in London traded near $52 a barrel. Also, the spread between the crude varieties is smallest in the year-so-far.
Weakening of oil and gold prices, India’s two largest imported products and the biggest contributors to trade deficit, have been on the decline in the last five week, helping the domestic economy and arresting inflationary forces.
Rupee strengthened 6 paisa to 63.85 against one U.S. dollar.
The Sensex Index advanced 104.20 or 0.4% to close at 27,563.43. The CNX Nifty increased 38.05 or 0.5% to 8,375.05.
Gainers & Losers
BASF India Limited added 0.6% to ₹1,166 after the chemical products maker net in the first-quarter soared rose 78.4% to ₹ 92.72 crore.
Total revenues in the quarter slipped 6.8% to ₹1,349.68 crore.
Dabur India Limited slipped 1.4% to ₹290.45 after the healthcare products maker reported net in the first-quarter climbed 23.9% to ₹261.10 crore.
Net sales in the quarter jumped 10.7% to ₹2,064.10 crore.
Godrej Consumer Products Ltd climbed 4.3% to ₹1,253 after the personal care products maker said net in the first-quarter surged 38.9% to ₹199.23 crore.
Total revenues in the quarter advanced 10.3% to ₹2,114.46 crore.
Gujarat State Fertilizers & Chemicals Limited declined 3.6% to ₹72.55 after the fertilizer maker said net in the first-quarter dropped 6.8% to ₹100.90 crore.
Net sales in the quarter plunged 12.8% to ₹1,084.48 crore.
PI Industries Limited increased 1.1% to ₹653.45 after net in the first-quarter soared rose 21.7% to ₹87.30 crore.
Net revenues in the quarter climbed 17.7% to ₹563.40 crore.
Pidilite Industries Ltd jumped 3.3% to ₹559.70 after the adhesive and paint maker reported net in the first-quarter surged 33.8% to ₹225.53 crore.
Net sales in the quarter advanced 9.3% to ₹1,462.15 crore.
SpiceJet Limited rose 0.8% to ₹26.75 after the air transport services provider said net in the first-quarter swung to profit of ₹71.9 crore compared to a loss of ₹124.10 crore.
Total revenues in the quarter plunged 33.6% to ₹1,133.04 crore.
In addition, the company is in talks with U.S.-based Boeing Co and U.K.-based Airbus Group to buy 100 single-aisle passenger airplanes worth $11 billion.
Yes Bank Limited advanced 2.3% to ₹813.30 after the financial services provider net in the first-quarter climbed 27.7% to ₹551.20 crore.
Net revenues in the quarter jumped 22.8% to ₹3,797.02 crore.
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc