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Market Update

Sensex Rebounds; Jaiprakash Swings to Loss, Nalco Net Rises

Author: Mukesh Buch
Last Update: 9:18 AM ET February 11 2015

6:00 PM Mumbai Market indexes in India rebounded on the hopes of faster implementation of economic reforms after the latest election defeat of BJP. Asian Paints acquired 51% stake in Ethiopia-based Kadisco Paint. Capital First net soared three-fold. CARE net fell 6%. Deepak Fertilisers net tumbled 98%. Nalco net soared 171% on 17% increase in revenues.

Sensex and Nifty indexes rebounded on hopes that the recent election defeat of BJP in Delhi Assembly election may spur faster and visible economic reforms by the Narendra Modi led central government.

Indian rupee rose 20 paisa to 61.25 against one dollar.

The Sensex Index jumped 178.97 or 0.6% to close at 28,533.97. The CNX Nifty rose 61.85 or 0.7% to 8,627.40.

Gainers & Losers

Asian Paints Limited advanced 2.4% to ₹841.20 after the paint maker agreed to acquire 51% stake for about $18.95 million in Ethiopia-based Kadisco Paint.

Capital First Limited climbed 6.1% to ₹415.65 after the financial service provider reported net in the third-quarter surged 195.8% to ₹29.91 crore.

Total revenues soared 37.5% to ₹380.14 crore.

Credit Analysis and Research Limited fell 0.5% to ₹1,609.95 after the rating company said net in the third-quarter decreased 6.34% to ₹26.24 crore.

Total revenues climbed 15.95% to ₹62.43 crore.

Deepak Fertilisers and Petrochemicals Corporation Limited declined 5.7% to ₹131.40 after the industrial chemical and fertilizer producer said net in the third-quarter tumbled 98.05% to ₹1.25 crore.

Revenues plunged 19.28% to ₹818.48 crore.

JK Paper Limited gained 6.2% to ₹36.70 after the paper maker said net swung to profit ₹11.40 crore compared to a loss of ₹39.38 in the same quarter last year.

Net revenues jumped 18% to ₹554.97 crore.

Jaiprakash Associates Limited decreased 1.5% to ₹23.55 after the diversified infrastructure conglomerate reported net loss in the third-quarter widened to ₹116.09 crore compared to ₹88.71 in the year ago period.

Net sales declined 18.5% to ₹2,557.81 crore.

JSW Steel Limited jumped 4.3% to ₹978 after the third-largest steel producer plans to invest $2.5 billion and expand its steel production capacity western India.

National Aluminium Company Limited closed unchanged at ₹49.50 after the largest integrated aluminium producer said net in the third-quarter surged 170.52% to ₹354.47 crore.

Net revenues jumped 16.6% to ₹2,057.61 crore.

SRF Limited dropped 5.5% to ₹933.40 after the chemical maker said net in the third-quarter rose 0.78% to ₹72.62 crore.

Net sales increased 1.25% to ₹870.22 crore.

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