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Market Update

Sensex in India Extend 5-Day Decline, Banks Struggle for Second Week


Author: Mukesh Buch
ticker.com
Last Update: 8:45 AM ET February 05 2015

6:00 PM Mumbai Aurobindo Pharma said net slipped 8%. Arvind net increased 7% and Bombay Dyeing net loss narrowed. JK Lakshmi cement net surged 31% while Ramco cement net slipped 10%. Jubilant FoodWorks net rose 4%.

Stocks in Mumbai declined for the fifth day in a row but information services provider gained after Cognizant Technologies forecasted improving annual revenue growth.

Banks were in focus after Indian Overseas Bank reported a surge in bad loans and ICICI Bank declined for the sixth day in a row after missing earnings estimates last week.

Indian rupee closed at 61.73 against one dollar.

The Sensex Index decreased 32.14 to close at 28,850.97. The CNX Nifty fell 12 to 8,711.70.

Gainers & Losers

Aurobindo Pharma Ltd tumbled 5% to ₹1,149.85 after the natural and ayurvedic medicine maker reported net in the third-quarter slipped 7.93% to ₹384.35 crore.

Total revenues surged 49.34% to ₹3,202.08 crore.

Arvind Limited slipped 1.5% to ₹287.75 after the textile company said net in the third-quarter gained 6.78% to ₹109.10 crore.

Net revenues jumped 17.08% to ₹2,088.73 crore.

The apparel retailer has a portfolio of several popular brands and a retail network and the textile maker has set revenue target of 6,000 crore and expansion through e-commerce business with the help of Creyate.com and other Internet sites.

The Bombay Dyeing and Manufacturing Company Limited plunged 7.9% to ₹75.75 after the textile product maker said net loss in the third-quarter narrowed to ₹65.93 crore compared to ₹93.15 crore in the same period a year ago.

Total revenues rose 6.66% to ₹515.49 crore.

Forbes & Company Limited fell 1.9% to ₹2,254.20 after the logistics service operator reported said net loss in the third-quarter widened to ₹7.21 crore compared to ₹3.62 crore in the same period last year.

Net revenues dropped 9.66% to ₹65.63 crore.

JK Lakshmi Cement Limited added 1.5% to ₹392.20 after the cement producer said net in the third-quarter soared 31.15% to ₹18.48 crore.

Net revenues jumped 10.15% to ₹562.63 crore.

Jubilant FoodWorks Limited climbed 6.5% to ₹1,432.25 after the food and beverage company reported net in the third-quarter rose 4.23% to ₹5.11 crore.

Total revenues soared 21.11% to ₹555.85 crore.

The Ramco Cements Limited dropped 3.6% to ₹388.60 after the cement producer said reported net in the third-quarter slipped 10.28% to ₹22.96 crore.

Revenues decreased 6% to ₹817.77 crore.

United Commercial Bank Ltd declined 5.7% to ₹68.35 after the financial service provider said net in the third-quarter fell 3.45% to ₹303.59 crore.

Net revenues advanced 10.54% to ₹5,447.39 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