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Market Update

Sensex Eases; State Bank of India Net Rises 25%, Cipla Net Soars


Author: Sarla Buch
ticker.com
Last Update: 8:38 AM ET November 06 2015

6:00 PM Mumbai, India Sensex in Mumbai edged lower and extended weekly losses to 1.5%. State Bank of India, Bank of Baroda and Punjab National Bank said quarterly profit jumped. M&M quarterly profit and revenues fall. Castrol India net rose 22%. Cipla net income surged 44%. Tata Steel net income jumped 22% on 18% increases in revenues.

Sensex index in Mumbai edged lower and the index declined 1.5% in the week and State Bank of India reported 25% jump in earnings and bad loan ratio, a key indicator watched by investors, declined.

However, Bank of Baroda and Punjab National Bank reported rising bad loans.

Rupee weakened 1 paisa to 65.75 against one U.S. dollar.

The Sensex Index decreased 38.36 to close at 26,265.24. The CNX Nifty slid 1.15 to 7,954.30.

For the week, Sensex Index dropped 1.5% and CNX Nifty slipped 1.4%.

Gainers & Losers

Bharat Heavy Electricals Limited decreased 1.2% to ₹191.80 after the power generation equipment maker reported net in the second-quarter swung to a loss from a year ago to ₹204.90 crore.

Net revenues in the quarter edged down 0.4% to ₹6,311.23 crore.

Bank of Baroda soared 4.9% to ₹167.40 after the lender said net in the second-quarter tumbled 88.7% from a year ago to ₹124.48 crore.

Net revenues in the quarter increased 4.1% to ₹12,300.40 crore.

The bank added gross non-performing assets in the quarter jumped to 5.56% compared with 3.32% in the same quarter last year.

Net non-performing assets in the quarter increased to 3.08% compared with 1.74% in the same quarter last year.

Castrol India Limited decreased 1.9% to ₹444.85 after the lubricants maker reported net in the third-quarter soared 21.5% from a year ago to ₹143.20 crore.

Net sales in the quarter fell 2.2% to ₹784.30 crore.

Cipla Limited slid 0.1% to ₹657.95 after the pharmaceutical products maker said net in the second-quarter surged 44.4% from a year ago to ₹431 crore.

Net revenues in the quarter soared 24.8% to ₹3,452 crore.

Mahindra & Mahindra Ltd edge down 0.2% to ₹1,258 after the agri-equipment and vehicles maker said net in the second-quarter decreased 2.4% from a year ago to ₹923.56 crore.

Net revenues in the quarter slid 1.7% to ₹9,730.92 crore.

Motherson Sumi Systems Limited surged 9.4% to ₹265.75 after the system solutions provider reported net in the second-quarter soared 176% from a year ago to ₹282 crore.

Net revenues in the quarter jumped 14% to ₹9,037 crore.

Punjab National Bank advanced 2.5% to ₹132.80 after the lender said net in the second-quarter increased 7.9% from a year ago to ₹621.03 crore.

Net revenues in the quarter gained 5.2% to ₹13,701.93 crore.

The bank said gross non-performing assets in the quarter surged to 6.36% compared to 5.65% in the same quarter last year.

Net non-performing assets in the quarter advanced to 3.99% compared with 3.26% in the same quarter last year.

State Bank of India jumped 3.9% to ₹243.45 after the financial services provider reported net in the second-quarter soared 25.1% from a year ago to ₹3,879.07 crore.

Net sales in the quarter advanced 12% to ₹46,854.81 crore.

Tata Steel Limited dropped 2.4% to ₹220.10 after the steel producer reported net in the second-quarter surged 21.9% from a year ago to ₹220.10 crore.

Net revenues in the quarter jumped 18.1% to ₹29,304.69 crore.

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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