India Movers: Goa Carbon, MTNL, Reliance, Va Tech Wabag

Mukesh Buch
10 Jan, 2014
New York City

IndusInd Bank net surged 30% as non-performing assets jumped to 1.2%. MTNL declined despite Union Cabinet clearing spectrum refunds. Reliance said gas production at KG-D6 fields increased 15%. Va Tech Wabag secured order worth $40 million from Tanzania.

[R]6:00 PM Mumbai – IndusInd Bank net surged 30% as non-performing assets jumped to 1.2%. MTNL declined despite Union Cabinet clearing spectrum refunds. Reliance said gas production at KG-D6 fields increased 15%. Va Tech Wabag secured order worth $40 million from Tanzania.[/R]

The Sensex Index increased 45.12 or 0.2% to close at 20,758.49. The CNX Nifty rose 3.10 to close at 6,171.45. For the week, Sensex slid 0.4%.

Gainers & Losers

Goa Carbon Ltd dropped 3.8% to Rs 70.90 after the company stated it has temporarily shut down its Bilaspur plant because of lack of raw material.

IndusInd Bank Limited slipped 2.8% to Rs 404.95 and net profit in the third-quarter surged 29.8% to Rs 346.90 crore and sales soared 21.7% to Rs 2,623.76 crore.

During the quarter, bank’s gross non-performing assets jumped to 1.18%.

Mahanagar Telephone Nigam Limited declined 4.3% to Rs 16.65 and The Union Cabinet approved spectrum refunds Rs 6,724.51 crore to BSNL and Rs 4,533.97 crore to MTNL.

Reliance Industries Limited rose 0.8% to Rs 856.90 after company has increase gas production at KG-D6 fields by about 15% as the oil explorer added the first production well on the eastern offshore fields.

Va Tech Wabag Limited rose 0.6% to Rs 555.40 after the company secured order worth $40 million from Dar Es Salaam Water & Sewerage Authority in Tanzania.