India Movers: Colgate, Indian Bank, J.K. Cement, UltraTech Cement, Wipro

Mukesh Buch
29 Jul, 2013
New York City

Colgate India unit net soared. J.K. Cement profit and sales declined. Jaiprakash Associates net and sales surged. UltraTech Cement net fell 13% and sales dropped 2%. Wipro guided a slight increase in current quarter sales.

[R]6:00 PM Mumbai – Colgate India unit net soared. J.K. Cement profit and sales declined. Jaiprakash Associates net and sales surged. UltraTech Cement net fell 13% and sales dropped 2%. Wipro guided a slight increase in current quarter sales.[/R]

The Sensex Index slipped 56.57 to close at 19,748.19 The CNX Nifty fell 21.30 to close at 5,886.20.

Gainers & Losers

Colgate-Palmolive (India) Limited slipped 1.5% to Rs 1,418 after net profit in the first quarter jumped 57.7% to Rs 185.22 crore and sales climbed 14.3% to Rs 876.81 crore.

Corporation Bank, the financial services provider said net profit in the first quarter rose 2.1% to Rs 377.98 crore and total operating income climbed 17% to Rs 4,271.49 crore.

Electrosteel Steels Limited fell 1.5% to Rs 2.62 after the company reported net loss in the quarter widened to Rs 70.74 crore compared to Rs 46.20 crore a year ago. Sales surged ten-fold to Rs 119.82 crore.

Indian Bank plunged 7.4% to Rs 89.50 after net profit in the first quarter declined 31.3% to Rs 317.39 crore and total revenues surged 16.6% to Rs 4,195.47 crore.

As on June, ratio of net non-performing assets increased to 2.31% compared to 1.04% a year earlier.

J.K. Cement Limited plummeted 10.7% to Rs 181.45 after net profit in the first quarter dropped 55.2% to Rs 30.88 crore and net sales declined 10.6% to Rs 657.44 crore.

Jaiprakash Associates Limited dropped 4.7% to Rs 39.80 after net profit in the first quarter surged 140.9% to Rs 334.51 crore and total revenue jumped 10.4% to Rs 3351.93 crore.

For the quarter, revenue from the cement segment slid 1.5% to 1539.34 crore and revenue from the real estate segment surged 175.2% to 454.27 crore but declined 29.11% from last quarter.

Triveni Turbine Ltd gained 1.3 to Rs 54.20 after net profit in the first quarter plummeted 24% to Rs 13.20 crore and net sales slid 1% to Rs 110.60 crore.

As on June, the company’s outstanding order book was Rs 480 crore.

UltraTech Cement, Ltd rose 0.8% to Rs 1,880 after net profit in the first quarter declined 13.5% to Rs 673 crore and net sales fell 2.2% to Rs 4958 crore.

Wipro Limited soared 6.7% to Rs 408.50 after the consolidated net profit in the first quarter rose 3% to Rs 1,623.30 crore and revenue grew 1% to Rs 9,734.60 crore.

For the quarter, revenue from the IT services rose 0.2% to $1.58 billion and the company added 28 new customers.

The company expects revenue from IT services business in the second quarter to increase 1.99% to 3.88% to between $1.62 billion and $1.65 billion.