India Movers: Cairn India, Mastek, Rallis India, SBBJ, VST, Yes Bank

Mukesh Buch
23 Apr, 2014
New York City

Cairn India net climbed 18% to $491 million on 16% increase in revenues. Mastek profit plunged 38% after revenue slipped 5%. Rallis India net surged 71%. State Bank of Bikaner and Jaipur net climbed 33%. VST Industries profit surged 49%. Yes Bank net soared 19%.

[R]6:00 PM Mumbai – Cairn India net climbed 18% to $491 million on 16% increase in revenues. Mastek profit plunged 38% after revenue slipped 5%. Rallis India net surged 71%. State Bank of Bikaner and Jaipur net climbed 33%. VST Industries profit surged 49%. Yes Bank net soared 19%.[/R]

The Sensex Index increased 118.17 or 0.5% to close at 22,876.54. The CNX Nifty gained 25.45 to close at 6,840.80.

Gainers & Losers

Cairn India Limited declined 3.3% to Rs 352.30 after net profit in the fourth-quarter climbed 18% to Rs 3,035 crore or $491 million and revenue surged 16% to Rs 5,049 crore or $ 817 million.

Mastek Ltd dropped 2.7% to Rs 193.75 after net profit in the fourth-quarter plunged 38.3% to Rs 11.30 crore and total revenue slipped 5.1% to Rs 230 crore.

Rallis India Limited surged 7.8% to Rs 179.65 after net profit in the fourth-quarter jumped 71.4% to Rs 19.30 crore and revenues increased 16.3% to Rs 331.46 crore.

State Bank of Bikaner and Jaipur climbed 3.7% to Rs 353 after net profit in the fourth-quarter climbed 33.3% to Rs 237.63 crore and total revenue jumped 15.3% to Rs 2,453.94 crore.

For the year, the lender said ratio of gross non-performing assets to net advances jumped to 4.18% from 3.62% and ratio of gross non-performing assets to gross advances increased to 2.76% from 2.27% a year earlier.

VST Industries Limited soared 6.5% to Rs 1,897.45 after net profit in the fourth-quarter surged 49.4% to Rs 51.89 crore and net sales jumped 18.1% to Rs 188.98 crore.

Yes Bank Limited gained 1.7% to Rs 441.55 after net profit in the fourth-quarter soared 18.8% to Rs 430.21 crore and total revenue climbed 13% to Rs 3,013.57 crore.

The bank said current and savings account deposits jumped 28.8% to Rs 16,344.70 crore from a year earlier.

For the year, the lender said gross non-performing assets to net advances rose to 0.31% and gross non-performing assets to gross advances was at 0.05% from a year earlier.

As of March-end, bank''s specific loan loss provision coverage was at 85.1%.

Zensar Technologies Limited jumped 3% to Rs 382.30 after net profit in the fourth-quarter surged 41.3% to Rs 55.25 crore and revenue soared 18.6% to Rs 602.54 crore.