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Market Update

Sensex in Mumbai Trims Weekly Losses, TCS Revenues Rise 6%

Author: Mukesh Buch
Last Update: 9:01 AM ET July 10 2015

6:00 PM Mumbai – TCS said quarterly profit climbed 53% and revenues rose 6%. GRUH Finance net jumped 20% on 22% increase in revenues. Wipro agreed to acquire Denmark-based Designit for ₹595 crore or €85 million.

Market in Mumbai trading focused on domestic events and geared up for earnings season after TCS and GRUH reported quarterly results.

Rupee strengthened 1 paisa to 63.38 against one U.S. dollar.

The Sensex Index increased 87.74 or 0.3% to close at 27,661.40. The CNX Nifty gained 32 or 0.4% to 8,360.55.

For the week, Sensex Index declined 1.6% and CNX Nifty slipped 1.5%.

Gainers & Losers

Adani Ports and Special Economic Zone Limited edged up 0.3% to ₹316 and the Adani Group is in talks to acquire management rights for Larsen & Toubro Kattupalli International Container Terminal near Chennai.

GRUH Finance Limited edged down 0.2% to ₹253.10 after net in the first-quarter jumped 20% to ₹50.31 crore.

Total revenues in the quarter climbed 21.8% to ₹294.39 crore.

KEC International Limited soared 5.8% to ₹141.45 after the infrastructure developer and cables maker won a new orders of ₹622 crore in its transmission & distribution and cables businesses.

Monnet Ispat & Energy Limited soared 19.9% to ₹42.75 after the sponge iron maker plans to sell the controlling stake in its subsidiary, Monnet Power Company to JSW Energy.

R S Software India Ltd plunged 16.9% to ₹160.80 after net in the first-quarter tumbled 28.4% to ₹11.10 crore.

Net revenues in the quarter dropped 7% to ₹77.40 crore.

Snowman Logistics, Ltd advanced 1.3% to ₹101.05 after the transportation services provider entered into a three year service agreement with the U.K.-based COMPASS, food services provider.

Tata Consultancy Services Limited dropped 2.2% to ₹2,464.10 after net in the first-quarter surged 53.1% to ₹5,684 crore.

Total revenues in the quarter advanced 6% to ₹25,668 crore.

Wipro Limited rose 0.4% to ₹546.95 after the information technology provider’s subsidiary agreed to acquire Denmark-based Designit for ₹595 crore or €85 million.

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