Sensex Eases in India; Dabur, Ambuja, Reliance Industries Drop

Devan Biswas
27 Apr, 2011
New York City

Stocks in Mumbai lost momentum in the early afternoon and closed at the low of the day. Ambuja Cement declined 4% after net dropped 12%. Reliance Industries face a government fine as it misses the production target. Dabur dropped 2% after net rose less than expected 8.5%.

[R]4:45 PM Mumbai – Stocks in Mumbai lost momentum in the early afternoon and closed at the low of the day. Ambuja Cement declined 4% after net dropped 12%. Reliance Industries face a government fine as it misses the production target. Dabur dropped 2% after net rose less than expected 8.5%.[/R]

Stocks in Mumbai opened higher in the morning but lost steam in the early afternoon and closed near the day’s low.

The Sensex index declined 96.66 to 19,448.69 and the Nifty index declined 34.50 to 5,833.90.

The rupee edged higher by 2 paisa to 44.96 for one dollar and crude oil price increased 6 cents to $112.27 a barrel in Singapore trading.

Price of gold for ten grams increased 0.2% to Rs 22,945 and one kilo of silver gained 0.6% to Rs 68,581.

Stock Movers

Ambuja Cements fell 4.1% to Rs 151.05 after it reported net profit declined 11.8% to Rs 407.48 crore and sales increased 10.9% to Rs 2,207.05 crore in the quarter ending in March.

Reliance Industries declined 1.5% to Rs 985.70 after the government is looking to charge a penalty for the shortfall in natural gas production at its D6 block.

Dabur India declined 2.3% to Rs 99.55 after net increased 8.5% to Rs 147.01 crore on sales increase of 30.75% to Rs 1,131.90 crore. Sales surge included the recent acquisition of Turkey based Hobi Kozmetik and the U.S. based Namaste Laboratories.

Bosch increased 5% to Rs 6,969.80 after the auto parts maker reported net increased 35.5% to Rs 274.39 crore and sales increased 31.1% to Rs 2,072.65 in the first quarter ending in March.

Astra Microwave Products declined 3.4% to Rs 41.20 after net declined 58.3% to Rs 3.67 crore on sales decline of 5.7% to Rs 45.81 crore in the quarter ending in March.

Blue Dart Express increased 11.3% to Rs 1,529.50 after the latest quarter net soared 51.9% to Rs 36.11 crore and sales increased 30.6% to Rs 336.22 crore.

Coal India gained 1.9% to Rs 370.70 after the media reported suggested that the company received 27 proposals from 16 companies for the supply of coal at below market price.

Pratibha Industries increased 1.3% to Rs 64.55 after the company won an order of Rs 101 crore from Gujarat Water Infrastructure.