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Market Update

Sensex in India at 2-week Low; Airtel, Canara Bank Net Soar


Author: Mukesh Buch
ticker.com
Last Update: 8:50 AM ET February 04 2015

6:00 PM Mumbai Alembic said net rose 7%. Bharti Airtel net surged 135% on 23% increase in revenues. Bharti Infratel net climbed 23%. Canara Bank net soared 60%. Tata Power net swung to profit. Gujarat Pipavav net climbed 16%. Wockhardt net jumped 14%.

Market indexes in Mumbai declined and the Sensex in four sessions fell 1,000 points or 3% after oil price surged back to one-month high.

Declines in trading in capital goods companies and banks continued to drag market sentiment as most large banks report rising bad loans.

Indian rupee closed at 61.75 against one dollar.

The Sensex Index dropped 117.03 or 0.4% to close at 28,883.11. The CNX Nifty slid 32.85 or 0.4% to 8,723.70.

Gainers & Losers

Alembic Pharmaceuticals Limited plunged 11.1% to ₹429.55 after the pharmaceutical company reported net income in the third-quarter rose 7.17% to ₹70.66 crore.

Sales increased 5.38% to ₹510.95 crore.

Bharti Airtel Limited fell 1.1% to ₹367.85 after the largest wireless service provider said net in the third-quarter surged 135.4% to ₹1,436 crore.

Total revenues rose 5.8% to ₹23,217 crore.

Bharti Infratel Limited increased 0.4% to ₹377 after the telecommunications service provider said net in the third-quarter climbed 23.48% to ₹506.90 crore.

Net revenues advanced 8.77% to ₹3,070.40 crore.

Canara Bank gained 3.3% to ₹453.05 after the financial service provider said net in the third-quarter surged 60.24% to ₹655.97 crore.

Total revenues jumped 11.82% to ₹12,227.86 crore.

Gujarat Pipavav Port Limited climbed 5.3% to ₹217.75 after the port operator said net in the third-quarter jumped 15.91% to ₹89.32 crore.

Total sales climbed 31.97% to ₹169.59 crore.

Tata Power Company Limited jumped 3.3% to ₹90.20 after the integrated power company said net in the third-quarter swung to profit ₹197.74 crore compared to a loss of ₹74.91 in the same quarter last year.

Net revenues advanced 8.31% to ₹9,321.34 crore.

Wockhardt Limited soared 8.7% to ₹1,285.20 after the pharmaceutical company said net in the third-quarter jumped 14.05% to ₹347.25 crore.

Total revenues rose 4.03% to ₹1,376.03 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