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Market Update

Sensex in India Drops; Bajaj Auto, CEAT Net Rises


Author: Mukesh Buch
ticker.com
Last Update: 11:06 AM ET July 23 2015

6:00 PM Mumbai – Alstom India quarterly profit tumbled 46%. Bajaj Auto net soared 37% on 11% increase in revenues. CEAT Tyre net surged. Lupin net declined 16%. Network18 net loss narrowed. Muthoot Finance net rose but revenues fell 4%.

Market indexes in Mumbai edged lower following weak markets in Asia after a decline in indexes in Europe and New York in overnight trading.

Rupee weakened 18 paisa to 63.76 against one U.S. dollar.

The Sensex Index slipped 134.09 or 0.5% to close at 28,370.84. The CNX Nifty decreased 43.70 or 0.5% to 8,589.80.

Gainers & Losers

Alstom India Limited edged down 0.8% to ₹814.85 after net in the first-quarter plunged 46.3% to ₹8.05 crore.

Net sales in the quarter dropped 9% to ₹425 crore.

Bajaj Auto Limited dropped 5% to ₹2,487.75 after net in the first-quarter soared 37.1% to ₹1,014.80 crore.

Net revenues in the quarter advanced 10.6% ₹6,050.30 crore.

CEAT Limited climbed 3.4% to ₹805.55 after the tyre maker said net in the first-quarter surged 134.2% to ₹121.01 crore.

Net revenues in the quarter edged up 0.6% to ₹1,474.74 crore.

Container Corporation of India Limited slipped 5.5% to ₹1,647 after the net in the first-quarter reported tumbled 21% to ₹206.90 crore.

Net sales in the quarter jumped 11.9% to ₹1,420.85 crore.

Cairn India Limited soared 6.2% to ₹177.30 after the oil and gas explorer’s subsidiary Cairn Energy Plc may vote against the merger of Cairn India with Vedanta.

Lupin Limited declined 5.2% to ₹1,728.60 after the generic drug maker said net in the first-quarter dropped 15.9% to ₹525.02 crore.

Total revenues in the quarter slipped 5.7% to ₹3,150.23 crore.

In addition, the company plans to acquire New Jersey-based privately held Gavis Pharmaceuticals and Novel Laboratories Inc. for $880 million.

Lakshmi Vilas Bank Limited edged up 0.1% to ₹94.35 after net in the first-quarter soared 42.9% to ₹40.25 crore.

Net revenues in the quarter climbed 18.9% to ₹693.05 crore.

The bank added gross non-performing assets in the quarter dropped to 2.72% from 3.96% a year ago, while net non-performing assets fell to 1.72% from 3.19% in the same period last year.

Muthoot Finance Limited fell 1.5% to ₹200.05 after net in the first-quarter rose 1.7% to ₹183.16 crore.

Net sales in the quarter fell 4.4% to 1,092 crore.

Network18 Media and Investments Limited slipped 1.8% to ₹54.60 after net loss in the first-quarter narrowed to ₹1.15 crore compared to ₹1,021.88 crore.

Net sales in the quarter jumped 12.3% to ₹786.11 crore.

TTK Prestige Limited decreased 2.6% to ₹3,990 after net loss in the first-quarter dropped 17.2% to ₹21.96 crore.

Net sales in the quarter gained 3.6% to ₹336.39 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