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Market Update

Sensex in India Falls 0.7%; Infosys Net Jumps 12%

Author: Mukesh Buch
Last Update: 12:13 PM ET October 12 2015

6:00 PM Mumbai Infosys said net in the quarter jumped 12% on 9% increases in revenues. Tata Steel said September crude steel production increased 9%. Hindustan Construction secured a contract from nuclear recycle plant of BARC at Tarapur near Mumbai.

Stocks in Mumbai reacted to domestic corporate news and investors focused on the upcoming earnings from software exporters and banks.

Rupee weakened 1 paisa to 64.74 against one U.S. dollar.

The Sensex Index slipped 175.40 or 0.7% to close at 26,904.11. The CNX Nifty fell 46.10 or 0.6% to 8,143.60.

Gainers & Losers

Hindustan Construction Company Limited advanced 2.2% to ₹22.95 construction services provider received a contract worth ₹942.58 crore from nuclear recycle plant of BARC at Tarapur, Maharashtra.

Infosys Limited dropped 3.9% to ₹1,122.50 after net in the second-quarter jumped 12.1% from a year ago to ₹3,398 crore.

Net revenues in the quarter advanced 8.9% to ₹15,635 crore.

Inox Wind Limited increased 1.7% to ₹373.30 after the wind power solutions provider secured a 50 megawatt order from Tata Power Renewable Energy.

Kolte-Patil Developers Limited advanced 2.1% to ₹184 after the real estate developer plans to raise ₹110 crore through a non-convertible debenture offering.

Maruti Suzuki India Limited fell 0.9% to ₹4,232.20 after the largest motorcycle maker received approval from shareholders to raise foreign institutional investors limit to 40% from 24%.

Tata Steel Limited edged up 0.2% to ₹251.15 after the steel producer said September hot metal production rose 3% to 2.66 million tons.

Steel producer added crude steel production jumped 11% to 2.51 million tons and saleable steel production advanced 9% to 2.41 million tons.

Zensar Technologies Limited surged 15.2% to ₹968.65 after the infrastructure services provider said the U.S. based Apax Partners agreed to acquire 23.2% stake in the company.

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