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Market Update

TCS Net Jumps 15%, Rupee Drifts Near Record Low


Author: Mukesh Buch
ticker.com
Last Update: 11:09 AM ET October 13 2015

6:00 PM Mumbai, India – TCS, the largest software services provider in India said net in the second-quarter soared 15%. DCB Bank slipped 10% but revenues surged 32%. ABB India secured an order to strengthen power grid in India. Japan-based Nippon Life Insurance signed an agreement to increase its stake to 49% in the RCapital.

Stocks in Mumbai slipped and the rupee struggled despite the weakness in crude oil prices.

TCS, the largest software services provider said quarterly net income increased and matched the expectations. A day ago, the second largest software services provider Infosys also reported a rise in earnings.

Rupee weakened 44 paisa to 65.18 against one U.S. dollar.

The Sensex Index slipped 57.58 to close at 26,846.53. The CNX Nifty fell 11.90 to 8,131.70.

Gainers & Losers

ABB India Limited increased 1.2% to ₹1,117.75 after the transmission company secured an order worth ₹141 crore to strengthen power grid in India.

Cox & Kings Limited edged down 0.3% to ₹246.25 after the international travels and tour company agreed to acquire 100% stake in the U.K.-based Late Rooms from Germany-based TUI Group for £8.5 million.

DB Realty Limited soared 11.2% to ₹69.95 after the real estate developer’s subsidiary signed joint venture agreement with Vishwaroop Estates for the development of a project in Bandra, Mumbai.

DCB Bank Limited dropped 2.9% to ₹133.45 after net in the second-quarter slipped to 10.1% from a year ago to ₹36.93 crore.

Net revenues in the quarter soared 31.8% to ₹48.70 crore.

The gross non-performing assets in the quarter increased to 1.99% compared to 1.90 in a year ago period.

The net non-performing assets in the quarter rose to 1.16% from 1.07% in the same period last year.

Reliance Capital Limited surged 5.1% to ₹398.80 after the financial services provider said the Japan-based Nippon Life Insurance signed a definitive agreement with the company to increase its stake from 35% to 49%.

Tata Consultancy Services Limited edged up 0.2% to ₹2,597.40 after net in the second-quarter soared 14.5% from a year ago to ₹6,055 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