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Market Update

Sensex and Rupee in India Fall on Expected BJP Loss in Delhi

Author: Mukesh Buch
Last Update: 6:39 AM ET February 09 2015

6:00 PM Mumbai Apollo Tyres said net slipped 45%. GAIL net plunged 64%. L&T net slipped 14% but revenues rose 5%. Sun TV net jumped 15%. Tata Steel slumped 69%.

Stocks in Mumbai fell sharply after exit polls suggested that ruling BJP is likely to lose to Aam Admi Party.

Arvind Kejriwal led AAP is estimated to win absolute majority and Bhartiya Janata Party is likely to be the second largest party in the Delhi governing council.

Congress, the party that ruled Delhi for more than ten years to 2013 is likely to get as few as 5 seats in a 70-seat legislature.

Rupee also eased after weaker than expected earnings from L&T and Apollo Tyres and foreign investors sold net 96.45 crore rupees according to preliminary data from regulatory agency.

Indian rupee closed down 38 paisa to 62.07 against one dollar.

The Sensex Index declined 490.52 or 1.7% to close at 28,227.39. The CNX Nifty dropped 134.70 or 1.6% to 8,526.35.

Gainers & Losers

Apollo Tyres Ltd plummeted 12.3% to ₹187.15 after the largest tyre maker said net in the third-quarter plunged 45.5% to ₹184.24 crore.

Net revenues declined 13.7% to ₹3,115.96 crore.

Balmer Lawrie and Co. Ltd advanced 2.9% to ₹598 after the steel barrel maker said net in the third-quarter surged 65.8% to ₹36.24 crore.

Total revenues jumped 13.7% to ₹735.84 crore.

GAIL (India) Limited dropped 4.5% to ₹400.95 after the gas utility provider reported net in the third-quarter tumbled 64.03% to ₹604.08 crore.

Total revenues fell 6.66% to ₹14,969.41 crore.

Larsen & Toubro Limited plunged 6.6% to ₹1,573 after the engineering infrastructure contractor said net in the third-quarter slipped 14.58% to ₹1,059.80 crore.

Total revenues rose 5.37% to ₹15,616.91 crore.

Pricol Limited tumbled 4.9% to ₹37.40 after the automotive component maker reported net in the third-quarter swung to profit ₹31.29 crore compared to a loss of ₹11.93 in the same quarter last year.

Net revenues rose 5.37% to ₹15,616.91 crore.

Siemens India Ltd fell 0.3% to ₹1,102.65 after the company secured a contract worth ₹450 crore from Diesel Locomotive Works.

Sun TV Network Limited soared 9% to ₹416.55 after the satellite television services provider reported net in the third-quarter jumped 15.3% to ₹214.13 crore.

The Chennai-based TV network operator was expected earn between ₹193 crore and ₹195 crore.

Net revenues increased 9.9% to ₹575.03 crore driven by 7% increase in advertising revenues to ₹291.67 crore and 18% jump in subscription revenues of ₹132.88 crore.

Tata Steel Limited declined 5.8% to ₹347.90 after the steel producer said net in the third-quarter slumped 68.78% to ₹157 crore.

Net sales decreased 8.44% to ₹33,633 crore.

T.V. Today Network Ltd advanced 2% to ₹226.95 after the TV broadcasting operator said net in the third-quarter soared 27.55% to ₹26.34 crore.

Net sales climbed 18.23% to ₹131.16 crore.

VA Tech Wabag Ltd slipped 2.8% to ₹1,469.65 after the water treatment plant operator said net in the third-quarter tumbled 36.3% to ₹13.83 crore.

Total revenues increased 5.1% to ₹619.41 crore.

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