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Market Update

Tata Consultancy Net Up 8%, and Reliance Industries Net Rises 11%

Author: Mukesh Buch
Last Update: 8:24 AM ET April 17 2015

6:00 PM Mumbai – Tata Consultancy, the largest India-based software services provider said quarterly net rose 8%. Reliance Industries reported quarterly income increased 11% but weak crude oil price dragged revenues down 35%. CRISIL said net in the quarter declined 18%. LIC increased its stake in Hindalco.

Stocks in Mumbai rested in Friday’s trading and for the week popular indexes gained more than 1.5%.

Rupee weakened 4 paisa to 62.30 against one dollar.

The Sensex Index declined 233.94 or 0.8% to close at 28,442.10. The CNX Nifty dropped 100.70 or 1.2% to 8,606.

For the week, Sensex Index slipped 1.6% and CNX Nifty dropped 2%.

Gainers & Losers

CRISIL Limited declined 7% to ₹2,181.40 after the credit rating agency said net income in the first-quarter declined 18.03% to ₹56.32 crore.

Total revenues in the quarter fell 0.52% to ₹307.62 crore.

GRUH Finance Limited dropped 3.4% to ₹240.90 after the financial services provider reported net income in the fourth-quarter increased 0.63% to ₹74.06 crore.

Net revenues in the quarter climbed 19.9% to ₹304.99 crore.

Hindalco Industries Limited advanced 1.9% to ₹139.80 after the largest producer of aluminium and copper reported Life Insurance Corporation of India increased its stake by 2.041% in the company to 11.328%.

MindTree Limited declined 6.9% to ₹1,295.55 after the software developer said net in the fourth-quarter jumped 8.6% to ₹128.70 crore.

Net revenues rose 0.7% to ₹918.10 crore.

Reliance Industries Limited slid 0.1% to ₹926.85 after the industrial and petrochemical conglomerate said net in the fourth-quarter climbed 11% to ₹6,243 crore.

Net revenues in the quarter plunged 34.8% to ₹67,470 crore.

Tata Consultancy Services Limited declined 4.2% to ₹2,473.90 the largest information technology services provider based in India said net income in the fourth-quarter jumped 8.35% to ₹5,773 crore.

Net revenues in the quarter slid 1.14% to ₹24,220 crore.

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