India Movers: DCM Shriram, SRF Net Drop, Maruti Suzuki Profit Jumps

Mukesh Buch
29 Oct, 2013
New York City

DCM Shriram net tumbled 95%. Jindal Stainless net loss in the quarter widened. JSW Steel net swung to a loss. Maruti Suzuki net surged 195%. NOCIL net slid. SRF net declined 37%. Shriram Transport net fell.

[R]6:00 PM Mumbai – DCM Shriram net tumbled 95%. Jindal Stainless net loss in the quarter widened. JSW Steel net swung to a loss. Maruti Suzuki net surged 195%. NOCIL net slid. SRF net declined 37%. Shriram Transport net fell.[/R]

The Sensex Index climbed 358.73 or 1.7% to close at 20,929.01 The CNX Nifty jumped 119.80 or 1.9% to close at 6,220.90.

Reserve Bank of India trimmed marginal standing facility rate by 0.25% to 8.75% and repo rate increased by 25 basis points to 7.75%. The bank left cash reserve ratio unchanged at 4%.

The economic growth outlook was lowered to 5% from 5.5% and wholesale price inflation is expected to climb 6%.

Gainers & Losers

Bank of Maharashtra slipped 2.7% to Rs 39.20 after net profit in the second quarter plummeted 71.8% to Rs 46.85 crore and revenue surged 31.3% to Rs 3,196.56 crore.

DCM Shriram Consolidated Limited declined 13.6% to Rs 56.05 after consolidated net profit in the second quarter plunged 95.1% to Rs 1.41 crore.

Net sales for the quarter soared 25.8% to Rs 1,684.22 crore.

E.I.D-Parry (India) Limited rose 0.1% to Rs 143.35 after net profit in the second quarter tumbled 92% to Rs 25.95 crore and revenue declined 9.7% to Rs 453.87 crore.

Jindal Stainless Limited slid 0.4% to Rs 37.45 after the company reported net loss in the second quarter widened to Rs 411.97 crore compared to Rs 152.26 crore.

Net sales for the quarter jumped 23.4% to Rs 3,032.47 crore.

JSW Steel Limited grew 0.5% to Rs 864 after the company reported net in the second quarter swung to a loss Rs 115.55 crore compared to a profit of Rs 691.25 crore.

Consolidated sales soared 35% to Rs 13,866 crore.

K S B Pumps Limited jumped 8.8% to Rs 235 after net profit in the third quarter surged 38.5% to Rs 17.90 crore and net sales advanced 11.5% to Rs 188.16 crore.

Marico Limited fell 0.6% to Rs 211.20 after consolidated profit in the second quarter climbed 25% to Rs 106 crore and revenue gained 5% to Rs 1,118 crore.

Maruti Suzuki India Limited jumped 8.8% to Rs 1,646 after net profit in the second quarter soared 194.7% to Rs 670.20 crore.

Net sales for the quarter surged 26.5% to Rs 10,211.80 crore.

NRB Bearings Limited gained 0.7% to Rs 35 after net profit in the second quarter dropped 7.1% to Rs 10.55 crore and net sales rose 3.4% to Rs 151.04 crore.

NOCIL Limited slipped 2.9% to Rs 14.50 after net profit in the second quarter declined 10.3% to Rs 5.16 crore and net sales surged 12.3% to Rs 142.08 crore.

SRF Limited declined 4.5% to Rs 166.10 after net profit in the second quarter declined 36.6% to Rs 47.77 crore and net sales jumped 4.8% to Rs 839.94 crore.

Shriram Transport Finance Company, Ltd jumped 3.1% to Rs 574 after consolidated net profit in the second quarter fell 2.9% to Rs 351.93 crore and revenues soared 23.1% to Rs 2,103.67 crore.

VIP Industries Limited rose 0.4% to Rs 57.80 after net in the second quarter swung to a profit Rs 4.30 crore compared with a loss of Rs 1.80 crore. Net sales surged 28.2% to Rs 197.20 crore.