Sensex in India Jumps 0.5%; Bharti Net Surges
6:00 PM Mumbai – Bharti said quarterly profit soared 40%. Emami net climbed 24%. Canara Bank net declined 47% as the bank struggles with loan losses. Torrent Power net doubled. Balaji Telefilms reacquires 26% stake from a unit of 21st Century Fox.
Market indexes in Mumbai traded higher and rupee held firm a day after the Reserve Bank left rates unchanged and signalled improving economic conditions.
Rupee closed unchanged at to 63.75 against one U.S. dollar.
The Sensex Index jumped 151.15 or 0.5% to close at 28,223.08. The CNX Nifty increased 51.05 or 0.6% to 8,567.95.
Gainers & Losers
Bharti Airtel Limited advanced 1.7% to ₹420.65 after the largest wireless network services provider said net in the first-quarter soared 40.2% to ₹1,554 crore.
Total revenues in the quarter rose 3.1% to ₹23,671 crore.
Balaji Telefilms Limited surged 19.9% to ₹95.25 after the company acquired back 26% stake in the company from Dubai-based Star Middle East FZ LLC, a unit of 21st Century Fox for about ₹107 crore in the company.
Star India Pvt Ltd sold the stake it acquired over 11 years ago, 21% in 2004 for ₹123 crore and later increased through an open market offer,
The average transaction price was 63.60 a share, lower than the closing price of 79.40 on Tuesday. The video content producer is scheduled to release its quarterly results on August 13.
The Canara Bank Ltd decreased 1.8% to ₹303.55 after net in the first-quarter tumbled 40.7% to Rs 478.84 crore. Net revenues in the quarter rose 4.5% to ₹12,252.64 crore.
The bank said the ratio net non-performing assets in the quarter jumped 2.74% compared with 2.65% in March and 2.03% in a year ago month.
The ratio of gross non-performing assets in the quarter climbed 3.98% compared with 3.89% in March and 2.67% in the same period last year.
Deepak Fertilisers and Petrochemicals Corporation Limited gained 2.1% to ₹143 after net in the first-quarter jumped 13.8% to ₹45.33 crore.
Net revenues in the quarter advanced 13.5% to ₹1,072.18 crore.
Emami Limited increased 1.2% to ₹1,343.05 after net in the first-quarter climbed 23.9% to ₹87.75 crore.
Net revenues in the quarter jumped 20.7% to ₹608.36 crore.
Marico Limited edged down 0.5% to ₹440.20 after net in the first-quarter soared 28% to ₹238 crore.
Net revenues in the quarter jumped 10% to ₹1,783 crore.
Shree Cement Limited advanced 2.2% to ₹11,700 after the cement maker said net in the fourth-quarter plunged 62.4% to ₹104.11 crore.
Total revenues in the quarter added 3.2% to ₹1,763.82 crore.
Titan Company Limited increased 1.2% to ₹319.35 after branded watches maker plans to buy 2.18% stake from Tata Steel.
Torrent Power Limited jumped 2.5% to ₹167.90 after net in the first-quarter soared 101.2% to ₹173.48 crore.
Net revenues in the quarter climbed 16.5% to ₹3,063.11 crore.
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc