Sensex in India Falls; ACC and Ultratech Cement Sales Fall
6:00 PM Mumbai – Two largest cement companies in India reported declining quarterly sales and earnings. INOX Leisure surged 15% after quarterly profit jumped four-fold. CRISIL net rose 12%. Hindustan Zinc net jumped 12% on 21% increase in revenues.
Market indexes on Wall Street struggled after ACC and Ultratech, two largest cement companies in India, reported weakening sales and earnings in the latest quarter.
Rupee weakened 17 paisa to 63.64 against one U.S. dollar.
The Sensex Index fell 43.19 to close at 28,420.12. The CNX Nifty slid 6.40 to 8,603.45.
Gainers & Losers
ACC Limited dropped 1.9% to ₹1,455.55 after net in the second-quarter plunged 45.1% to ₹133.46 crore.
Total revenues in the quarter fell 2.1% to ₹3,037.12 crore.
CRISIL Limited rose 1.2% to ₹1,998.30 after profit in the second-quarter increased 12.3% to ₹64.92 crore.
Total revenues in the quarter rose 10.3% to ₹339.91 crore.
The Federal Bank Limited tumbled 6.7% to ₹70.75 after net in the first-quarter plunged 35.8% to ₹141.39 crore. Net revenues in the quarter advanced 9.3% to ₹2,107.09 crore.
The ratio of net non-performing assets in the quarter rose to 0.98% compared with 0.73% in March and 0.68% in the same period last year.
Hindustan Zinc increased 1.5% to ₹166.35 after the zinc producer said net in the first-quarter jumped 19% to ₹1,921 crore.
Net revenues in the quarter climbed 21% to ₹3,596 crore.
INOX Leisure Limited surged 15.8% to ₹240.50 after net in the first-quarter surged 451.5% to ₹25.26 crore.
Net revenues in the quarter climbed 49.7% to ₹349.12 crore.
Kajaria Ceramics Limited decreased 1.6% to ₹774.75 after net in the first-quarter jumped 18.8% to ₹48.35 crore.
Total revenues in the quarter advanced 9% to ₹548.72 crore.
Orient Green Power Company Limited advanced 4.2% to ₹14.78 after the company plans to sell its 26% stake in wholly owned subsidiary Gayatri Green Power.
Omkar Speciality Chemicals Limited soared 10.1% to ₹179.30 after net in the first-quarter surged 64.4% to ₹8.17 crore.
Net revenues in the quarter soared 69% to ₹90.83 crore.
Ultratech Cement Limited jumped 4.3% to ₹3,353.95 after the cement maker said net in the first-quarter decreased 5.7% to ₹591.13 crore.
Total revenues in the quarter increased 4.3% to ₹6,513.77 crore.
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc