India Movers: TCS Net Soars, RIL Refining Margin Shrinks

Mukesh Buch
15 Oct, 2013
New York City

Bajaj Corp profit dropped and sales climbed. Fortis Health sold its 6% stake Hong Kong subsidiary to Bupa for $355 million. HDFC Bank and IndusInd Bank profit soared. RIL profit rose 1.5% on weak refining margin and 15% increase in sales. TCS profit jumped.

[R]6:00 PM Mumbai – Bajaj Corp profit dropped and sales climbed. Fortis Health sold its 6% stake Hong Kong subsidiary to Bupa for $355 million. HDFC Bank and IndusInd Bank profit soared. RIL profit rose 1.5% on weak refining margin and 15% increase in sales. TCS profit jumped.[/R]

The Sensex Index rose 19.03 to close at 20,547.62 The CNX Nifty jumped 68.10 or 1.1% to close at 6,089.05.

Gainers & Losers

The Andhra Pradesh Paper Mills Limited dropped 2.8% to Rs 282 after the company reported net in the second quarter swung to a loss Rs 45.05 crore compared to a net profit of Rs 7.55 crore.

The paper maker said net sales in the quarter rose 3.1% to Rs 246.49 crore.

Bajaj Corp Limited plunged 9.2% to Rs 237.35 after net profit in the second quarter dropped 6.21% to Rs 36.02 crore and sales climbed 16.5% to Rs 158.25 crore.

Fortis Healthcare Limited jumped 1.8% to Rs 104.90 after the company confirmed it sold its 6% stake in Quality Healthcare in Hong Kong to Bupa for $355 million to reduce the debt.

HDFC Bank Limited gained 1.5% to Rs 651.40 after net profit in the second quarter soared 27.1% to Rs 1,982.32 crore and total revenue jumped 17.6% to Rs 11,937.69 crore.

Net interest income increased 15.3% to Rs 4,476.50 crore from Rs 3,881.90 crore and provisions and contingencies fell 1% to Rs 385.93 crore a year earlier.

IndusInd Bank Limited slipped 1.9% to Rs 407.40 after net profit in the second quarter soared 32% to Rs 330.23 crore and Sales jumped 16.8% to Rs 2,018.57 crore.

Reliance Industries Limited rose 0.8% to Rs 866.70 after net profit in the second quarter rose 1.5% to Rs 5,490 crore and sales surged 14.9% to Rs 1,03,758 crore.

The company’s gross refining margin in the quarter declined to $7.70 a barrel from $8.40 a barrel in first quarter and $9.50 a barrel a year ago.

As on September end, outstanding debt was Rs 83,982 crore higher than Rs 72,427 crore as on March end.

Sintex Industries Limited surged 15.4% to Rs 26.95 after consolidated net profit in the second quarter rose 0.4% to Rs 72.39 crore and total revenue climbed 13.9% to Rs 1,364.89 crore.

Tata Consultancy Services Limited soared 6.6% to Rs 2,218.15 after consolidated net profit in the second quarter jumped 16.4% to $748 million and revenues climbed 17% to $3.34 billion compared to $3.17 billion.

Operating profit in the quarter surged 32% to $1.01 billion.