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Market Update

Senesex in India Drops 1%; Petronet, Mangalore Refinery Net Rises


Author: Mukesh Buch
ticker.com
Last Update: 11:54 AM ET May 25 2015

6:00 PM Mumbai Market indexes in Mumbai dropped 1% and investors turned cautious after markets in Asia declined. ITC said net in the quarter rose 4%. Chennai Petroleum net soared 20%. City Union Bank net climbed 19%. DCW net surged 92%. Gujarat State Petronet and Mangalore Refinery net climbed.

Market indexes in Mumbai declined following weak regional markets in Asia and ITC Ltd dropped after reported weaker-than-expected earnings.

Investors were cautious ahead of the release of economic growth data on Friday and rupee remained on the edge on the worries that the U.S. Federal Reserve is preparing to raise rates.

Rupee weakened 4 paisa to 63.56 against one U.S. dollar.

The Sensex Index dropped 313.62 or 1.01% to close at 27,643.88. The CNX Nifty slipped 88.70 or 1.1% to 8,370.25.

Gainers & Losers

Amtek Auto Limited rose 0.4% to ₹160.40 after the auto components maker agreed to acquire German-based REGE Holding GmbH through its Singapore-based subsidiary.

CEAT Limited gained 1.3% to ₹781.55 after the largest tire maker said net in the fourth-quarter climbed 50.4% to ₹93.91 crore.

Net sales in the quarter rose 2.1% to ₹1,488.64 crore.

City Union Bank Limited jumped 3.3% to ₹102.90 after the financial services provider said net in the fourth-quarter climbed 18.9% to ₹99.08 crore.

Net revenues in the quarter jumped 11.6% to ₹804.53 crore.

The ratio of gross non-performing assets in the quarter decreased 1.86% compared to 2.12% in the same quarter last year and the ratio of net non-performing assets in the quarter slightly fell 1.3% compared with 1.31% in the same period last year.

Chennai Petroleum Corporation Limited surged 19.9% to ₹108.40 after the petroleum products maker said net the fourth-quarter surged 631.9% to ₹364.6 crore.

Total revenues in the quarter climbed 33.9% to ₹8,823.95 crore.

DCW Limited soared 5.7% to ₹18.60 after the caustic soda maker said net in the fourth-quarter surged 92% to ₹17.62 crore.

Total sales in the quarter added 2.3% to ₹364.08 crore.

Gujarat State Petronet Limited declined 2.6% to ₹114.50 after the petroleum products maker said net in the fourth-quarter climbed 26.6% to ₹67.10 crore.

Total revenues in the quarter increased 1.8% to ₹250.26 crore.

ITC Limited dropped 3.3% to ₹317.65 after the cigarette maker and hotel group said net in the fourth-quarter gained 3.7% to ₹2,361.18 crore.

Total revenues in the quarter added 1.7% to ₹9,663.15 crore.

IPCA Laboratories Limited rose 1.1% to ₹660 after the pharmaceutical products maker said that The Reserve Bank lifted foreign investor limit to 35% in the company.

Kotak Mahindra Bank Limited decreased 1.1% to ₹1,372.25 after the private sector bank said that the government deferred approval sought by the bank for increasing the aggregate foreign investment in the bank to 55%.

Mangalore Refinery and Petrochemicals Limited increased 0.9% to ₹68.75 after the petroleum products supplier said net in the fourth-quarter advanced 9.6% to ₹1,169.70 crore.

Net sales in the quarter plunged 42.2% to ₹11,474.43 croe.

NATCO Pharma Ltd increased 2% to ₹2,341.70 after the pharmaceutical products maker said net in the fourth-quarter soared 126.6% to ₹54.44 crore.

Total sales in the quarter advanced 5.3% to ₹204 crore.

Steel Authority of India Limited decreased 0.6% to ₹65.75 after the steel producer said that the company signed a joint venture agreement with ArcelorMittal to set up an automotive steel manufacturing facility.

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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