India Movers: Dewan Housing, Indiabulls, Polaris, Tata Steel, Yes Bank

Mukesh Buch
22 Oct, 2013
New York City

Dewan Housing net surged 50% after sales rose 43%. Indiabulls net soared and net debt jumped. JK Lakshmi Cement net plunged 80%. Polaris Fin Tech is likely to be acquired by L&T Infotech. Tata Steel secured contract from UK-based Network Rail for five years. Yes Bank net climbed 21%.

[R]6:00 PM Mumbai – Dewan Housing net surged 50% after sales rose 43%. Indiabulls net soared and net debt jumped. JK Lakshmi Cement net plunged 80%. Polaris Fin Tech is likely to be acquired by L&T Infotech. Tata Steel secured contract from UK-based Network Rail for five years. Yes Bank net climbed 21%.[/R]

The Sensex Index climbed 467.38 or 2.3% to close at 20,882.89 The CNX Nifty jumped 143.50 or 2.4% to close at 6,189.35. For the week, Sensex soared 3%.

Gainers & Losers

Ashoka Buildcon Limited jumped 4.6% to Rs 47.90 after the company received three contracts worth Rs 32.07 crore from Chhattisgarh State Power Distribution Company.

Dewan Housing Finance Corporation Limited slid 0.7% to Rs 152.05 after net profit in the second-quarter surged 50.4% to Rs 129.14 crore and revenue soared 42.7% to Rs 1,167.21 crore.

Heritage Foods Limited plunged 6.1% to Rs 202.30 after consolidated net profit in the second-quarter declined 29.9% to Rs 10.15 crore and total sales jumped 5.7% to Rs 424.95 crore.

Indiabulls Real Estate Limited gained 2.5% to Rs 67.60 after consolidated net profit in the second-quarter jumped 151.7% to Rs 81.20 crore and total revenue surged 31.6% to Rs 450.62 crore.

At the end of September, the company''s net debt jumped to Rs 2,048 crore compared to Rs 1,065 crore as on June 30.

JK Lakshmi Cement Limited dropped 3.5% to Rs 68.10 after net profit in the second-quarter tumbled 79.8% to Rs 10.30 crore and total revenue declined 8.7% to Rs 448.87 crore.

Polaris Financial Technology Limited rose 1.5% to Rs 143.20 after L&T Infotech plans to acquire Chennai-based customized software developer for $400 million.

Separately, today the company reported net profit in the second-quarter slid 1.5% to Rs 43.20 crore and net sales climbed 5.2% to Rs 583.82 crore.

Rallis India Limited increased 1.8% to Rs 161.65 after consolidate net profit in the second-quarter soared 21.4% to Rs 74.75 crore and revenue climbed 24.1% to Rs 602.40 crore.

Swaraj Engines Limited slipped 1.7% to Rs 489.65 after net profit in the second-quarter advanced 22.8% to Rs 17.20 crore and operating revenue climbed 24% to Rs 151.60 crore.

Tata Steel Limited gained 1.2% to Rs 340.10 after the company secured contract to supply rail tracks and steel sleeper plates to UK-based Network Rail for at least five years.

Yes Bank Limited jumped 3.8% to Rs 372.10 after net profit in the second-quarter climbed 21.2% to Rs 371.13 crore and 30.2% total revenue to Rs 2,947.39 crore.

The bank said total advances in the quarter soared 13.6% to Rs 47,717.20 crore and total deposits surged 29.2% to Rs 67,575.10 crore. Current and savings account deposits jumped 52.5% to Rs 13,776 crore.