India Movers: Axis Bank, ACC, Ambuja, Bharti Infratel, ICICI, Maruti

Mukesh Buch
25 Apr, 2014
New York City

Axis Bank announced a stock split of 5-to-1. ACC profit fell 9%. Ambuja Cements net jumped 7%. Bharti Infratel net soared 64%. Cera Sanitaryware profit surged 39%. Exide profit dropped 10%. ICICI Bank net jumped 15%. Maruti Suzuki net plunged 35%.

[R]6:00 PM Mumbai – Axis Bank announced a stock split of 5-to-1. ACC profit fell 9%. Ambuja Cements net jumped 7%. Bharti Infratel net soared 64%. Cera Sanitaryware profit surged 39%. Exide profit dropped 10%. ICICI Bank net jumped 15%. Maruti Suzuki net plunged 35%.[/R]

The market indexes opened lower a day after election in Mumbai as the largest democracy in the world reached half-way in Lok Sabha elections.

The Sensex Index dropped 188.47 or 0.8% to close at 22,688.07. The CNX Nifty slipped 58.05 to close at 6,782.75. For the week, Sensex jumped 1.8%.

Gainers & Losers

Axis Bank Ltd gained 1.1% to Rs 1,534.45 after net profit in the fourth-quarter climbed 18.5% to Rs 1,842.32 crore and revenue jumped 12.4% to Rs 10,178.63 crore.

For the year, the bank said ratio of gross non-performing assets to net advances jumped to 1.22% from 1.06% from a year ago and ratio of net non-performing net advances rose to 0.4% from 0.32% a year earlier.

In the today’s meeting the board of directors approved the stock split of 5-for-1; the sub-division of Rs.10 per share is now split in to five equity shares of Rs.2 per share.

The bank also declared a dividend of Rs 20 per share.

ACC Ltd dropped 2.9% to Rs 1,308.40 after net profit in the first-quarter fell 8.8% to Rs 399.85 crore and net sales slipped 2.1% to Rs 2,967.14 crore.

Ambuja Cements Ltd plunged 4.5% to Rs 209 after net profit in the first-quarter jumped 6.6% to Rs 520 crore and net sales increased 3.7% to Rs 2,640 crore.

Bharti Infratel Ltd jumped 3.4% to Rs 211.25 after net profit in the fourth-quarter soared 64.4% to Rs 472.40 crore and total revenue 3.9% to Rs 2,934.40 crore.

Cera Sanitaryware Ltd climbed 3.3% to Rs 876.05 after net profit in the fourth-quarter surged 38.8% to Rs 19.33 crore and total revenue surged 38.1% to Rs 218.19 crore.

Exide Industries Limited declined 3.1% to Rs 126.30 after net profit in the fourth-quarter dropped 9.8% to Rs 132.14 crore and revenues increased 3.1% to Rs 1,622.79 crore.

ICICI Bank Ltd slumped 2.3% to Rs 1,269.30 after net profit in the fourth-quarter jumped 15.1% to Rs 2,652.01 crore and total revenue soared 15% to Rs 14,465.34 crore.

For the year, net profit climbed 17.8% to Rs 9,810.48 crore and revenues jumped 12.8% to Rs 54,606.02 crore.

Maruti Suzuki India Ltd slipped 1.3% to Rs 1,956.05 after net profit in the fourth-quarter plunged 35.5% to Rs 800.05 crore and total revenue increased 9% to Rs 12,101.39 crore.

For the year, net profit jumped 16.3% to Rs 2,783.05 crore and revenues edged up 0.3% to Rs 43,700.63 crore.

Tata Teleservices (Maharashtra) Limited surged 11.9% to Rs 9.01 after Japan-based NTT Docomo plans to sell its entire 26.5% stake in the company.