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Market Update

Third Weekly Gain in Sensex in India, Reliance Industries Net Jumps 13%

Author: Mukesh Buch
Last Update: 1:09 PM ET October 16 2015

6:00 PM Mumbai, India – Reliance Industries said profit in the second-quarter jumped 13% on 34% increases in revenues. Bharti’s deal lapsed with Eaton Towers for sale of tower assets in Africa. Tata Motors global wholesales soared 21%. Sintex net surged 41%.

Stocks in Mumbai rose for the third week in a row and banks and financials led the gainers in Friday’s trading.

Rupee strengthened 1 paisa to 64.80 against one U.S. dollar.

The Sensex Index advanced 204.46 or 0.8% to close at 27,214.60. The CNX Nifty increased 58.65 or 0.7% to 8,238.15.

For the week, Sensex Index rose 0.4% and CNX Nifty increased 0.6%.

Gainers & Losers

Bharti Airtel Limited edged down 0.5% to ₹349.85 and the largest wireless network provider terminated its deal with Eaton Towers to sell tower assets in Africa.

Everest Industries Limited soared 8% to ₹351.90 after the building products maker said the HDFC Mutual Fund bought 375,000 shares of the company.

Jay Bharat Maruti Limited declined 5.4% to ₹136 after net in the second-quarter jumped 18.9% from a year ago to ₹9.94 crore.

Total sales in the quarter increased 3.2% to ₹312.28 crore.

MEP Infrastructure Developers Ltd jumped 4.7% to ₹57.40 after the infrastructure developer won toll collection rights from the National Highways Authority of India in Uttar Pradesh.

Reliance Industries Limited rose 0.9% to ₹912.20 after the conglomerate reported net in the second-quarter jumped 12.5% from a year ago to ₹6,700 crore.

Total revenues in the quarter soared 33.8% to ₹113,396 crore.

Sintex Industries Limited fell 0.7% to ₹103.55 after the plastic products maker said net in the second-quarter soared 40.8% from a year ago to ₹128.07 crore.

Net sales in the quarter jumped 29.8% to ₹1,293.16 crore.

Subros Limited gained 1% to ₹87.60 after thermal products maker secured an order worth ₹15 crore from the Indian Railways.

Tata Motors Limited increased 1.4% to ₹386.20 after largest truck and passenger car maker reported September global wholesales, including Jaguar Land Rover unit, soared 21% to 97,102 units.

Unitech Limited decreased 1.9% to ₹7.67 after the real estate developer plans to raise ₹1,400 crore in a bid to speed up construction of its existing projects.

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