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Market Update

Sensex Rises 0.7%, TCS Quarterly Net Flat

Author: Sarla Buch
Last Update: 9:33 AM ET January 13 2016

6:00 PM Mumbai, India Tata Consultancy Services said quarterly profit was flat and revenues rose 0.7%. Bharti Airtel plans to sell its two units in Africa to France-based Orange. Tata Power plans to raise ₹500 crore through a debenture offering.

Market indexes in Mumbai trading edged higher after two weeks of decline but the rupee drifted lower.

Market sentiment in Mumbai and in Asia improved after China reported better than expected international trade data. Chinese annual exports in 2015 declined for the first time since 2009 on weak global demand.

Rupee rose 2 paisa to ₹66.84 against one U.S. dollar.

The Sensex Index rose 172.08 or 0.7% to close at 24,854.11. The CNX Nifty increased 52.10 or 0.7% to 7,562.40.

Gainers & Losers

Bharti Airtel Limited advanced 2.1% to ₹308.70 after the largest wireless service provider plans to sell its Africa-based two subsidiaries in Burkina Faso and Sierra Leone to France-based Orange.

DCB Bank Limited jumped 4.8% to ₹78.70 after the financial services provider reported net in the third-quarter slipped 3% from a year ago to ₹41.20 crore.

Deep Industries Limited soared 6.1% to ₹167 after the oil and gas explorer secured an order in Ankleshwar for ₹34.24 crore.

Piramal Enterprises Limited increased 1.5% to ₹948.05 and the company plans to sell its Canada-based cartilage repair product focused business, BST-CarGel to Smith & Nephew.

Strides Shasun Ltd decreased 1.4% to ₹1,177.50 after the pharmaceutical products maker received a regulatory approval to acquire two business units of Sun Pharmaceutical for about ₹165 crore.

Tata Consultancy Services Limited decreased 1.9% to ₹2,280.20 after the information technology services provider said net in the third-quarter fell 0.03% from a year ago to ₹6,083 crore.

Net sales in the quarter rose 0.7% to ₹27,364 crore.

Tata Power Company Limited dropped 2.2% to ₹65.65 after the power producer plans to raise ₹500 crore through non- convertible debenture offering.

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