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Market Update

RBI Lowers Rate, Bharti Airtel to Sell 5% Stake to Qatar


Author: Mukesh Buch
ticker.com
Last Update: 8:31 AM ET May 03 2013

6:00 PM Mumbai Ambuja Cements net tumbled jumped 56% and Alstom secured order from BHEL. AstraZeneca net loss narrowed. Blue Dart net climbed 43% and Bharti Airtel sell 5% stake to Qatar Foundation. Bajaj Corp net surged 44% and Honeywell net declined 8%.

The Sensex Index slipped 160.13 or 0.8% to close at 19,575.64 The CNX Nifty slid 55.35 to close at 5,944.

Banks slipped after Reserve Bank of India cut the key policy rate by 25 basis points to 7.25% and also estimated first-half economic growth base line at 5.5%.

Gainers & Losers

Ambuja Cements Limited fell 0.9% to Rs 188.20 after net profit in the first-quarter jumped 56.3% to Rs 487.90 crore.

Alstom India Ltd soared 5.6% to Rs 342 after the company secured order from Bharat Heavy Electricals to supply boilers at locations in Madhya Pradesh.

AstraZeneca Pharma India Limited surged 7% to Rs 795.90 after the company reported fourth-quarter net loss narrowed to Rs 18.58 crore.

Blue Dart Express Limited jumped 2.4% to Rs 2,509.50 after net profit in the first-quarter climbed 43.6% to Rs 41.75 crore.

Bharti Airtel Limited rose 0.4% to Rs 318.20 after the company plans to sell 5% stake to Qatar Foundation Endowment for $1.26 billion or Rs 6,796 crore.

Bajaj Corp Limited gained 1.9% to Rs 253.25 after net profit in the first-quarter surged 44.4% to Rs 49.15 crore.

Crompton Greaves Limited gained 1.6% to Rs 94.65 after the company signed partnership agreement with Indonesia based PT Prima Layanan Nasional Enjinring for switchgears.

Gujarat Pipavav Port, Ltd surged 7.2% to Rs 51.40 after net profit in the first-quarter surged 151.3% to Rs 35.38 crore.

Honeywell Automation India Limited rose 0.7% to Rs 2,475 after net profit in the first-quarter declined 7.7% to Rs 15.28 crore.

Ingersoll-Rand (India) Limited fell 0.9% to Rs 399.50 after net profit in the fourth-quarter plunged 11.8% to Rs 18.30 crore.

JSW Energy Limited plunged 5.1% to Rs 63.85 after consolidated profit in the fourth quarter soared 49% to Rs 335.69 crore.

State Bank of India declined 3.6% to Rs 2,216.55 after the Reserve Bank of India lowered benchmark rate by 25 basis points to 7.25% and held cash reserve requirement at 4%.

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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