India Movers: Wipro Net Edges Up 4%, UltraTech Net Plunges 38%

Mukesh Buch
20 Jan, 2014
New York City

Dewan Housing net climbed 52%. Kajaria Ceramics net jumped 16%. PTC India net surged more than three-fold. Subex won five new customer deals worth $10 million. UltraTech Cement net plunged 38%. Vakrangee profit soared 56%. Wipro net increased 4%.

[R]6:00 PM Mumbai – Dewan Housing net climbed 52%. Kajaria Ceramics net jumped 16%. PTC India net surged more than three-fold. Subex won five new customer deals worth $10 million. UltraTech Cement net plunged 38%. Vakrangee profit soared 56%. Wipro net increased 4%.[/R]

The Sensex Index gained 141.43 or 0.7% to close at 21,205.05. The CNX Nifty increased 42.30 to close at 6,303.95.

Gainers & Losers

Dewan Housing Finance Corporation Ltd jumped 3.7% to Rs 214.20 after net profit in the third-quarter surged 51.7% to Rs 138.39 crore and total revenue soared 54.8% to Rs 1,301.36 crore.

The lender said housing loans sanctioned during the quarter climbed 51% to Rs 5,938.55 crore and disbursement amount jumped 35% to Rs 4,030.23 crore from a year earlier.

Kajaria Ceramics Limited gained 3.4% to Rs 306 after net profit in the third-quarter climbed 16.2% to Rs 28.56 crore and sales jumped 8.05% to Rs 435.67 crore.

PTC India Ltd advanced 4.6% to Rs 60.20 after net profit in the third-quarter jumped more than three-fold to Rs 90.78 crore and total revenue climbed 47.5% to Rs 2,771.05 crore.

Subex Ltd soared 5% to Rs 9.26 after the company won five new customer deals worth $10 million across key emerging markets.

The company said two contracts were in the APAC, two from North Africa and one from the Middle East.

Tata Sponge Iron Ltd climbed 41% to Rs 309.50 after net profit in the third-quarter jumped18.1% to Rs 24.31 crore and revenue slid 0.1% to Rs 207.15 crore.

UltraTech Cement Ltd rose 0.3% to Rs 1,720.80 after net profit in the third-quarter plunged 38.4% to Rs 370 crore and net sales fell 1.5% to Rs 4,786 crore.

Vakrangee Ltd rose 0.6% to Rs 91.45 after net profit in the third-quarter surged 56.2% to Rs 51.10 crore and net sales climbed 25.8% to Rs 489.21 crore.

Wipro Limited jumped 3.8% to Rs 573.30 after net profit in the third-quarter increased 4.3% to Rs 2,014.70 crore and total revenue grew 3.1% to Rs 11,327.40 crore.

The company said revenues from IT services surged 20% to Rs 10,330 crore or $1.68 billion.

Wipro expects revenues from IT services business to be in the range of $1,712 million to $1,745 million.