Sensex in India Gains on Higher Profits from Banks

Mukesh Buch
23 Jul, 2014
New York City

ABB India net jumped 20%. Axis Bank net surged 18%. Atul profit soared 48%. KPIT Technologies tumbled after net declined 17%. MRF net rose 1%. Polaris Financial Technology net plummeted 29%. Yes Bank net climbed 10%.

[R]6:00 PM Mumbai – ABB India net jumped 20%. Axis Bank net surged 18%. Atul profit soared 48%. KPIT Technologies tumbled after net declined 17%. MRF net rose 1%. Polaris Financial Technology net plummeted 29%. Yes Bank net climbed 10%.[/R]

The Sensex Index jumped 121.53 or 0.5% to close at 26,147.33 The CNX Nifty gained 27.90 to 7,795.75.

Gainers & Losers

ABB India Ltd slipped 1.6% to Rs 1,085.90 after net profit in the second-quarter jumped 20% to Rs 48 crore and revenue increased 3.7% to Rs 1,794 crore.

Axis Bank Ltd fell 0.8% to Rs 2,001.15 after net profit in the first-quarter surged 18.3% to Rs 1,666.76 crore and total revenues climbed 10.2% to Rs 9,980.47 crore.

Atul Ltd surged 12.6% to Rs 1,215.30 after net profit in the first-quarter soared 47.8% to Rs 59.78 crore and total revenue climbed 25.2% to Rs 647.08 crore.

Bank of Baroda jumped 2.7% after the Reserve Bank of India lifted ban from stake selling by public sector banks to foreign investors.

DB Corp Ltd rose 0.1% to Rs 323.05 after net profit in the first-quarter edged up 0.1% to Rs 79.25 crore and total sales climbed 9.6% to Rs 482.17 crore.

KPIT Technologies Ltd tumbled 11.3% to Rs 154.85 after net profit in the first-quarter declined 17.1% to Rs 50.80 crore and revenue fell 1.5% to Rs 689.70 crore.

MRF Limited surged 7.3% to Rs 24,651.10 after net profit in the first-quarter rose 1.3% to Rs 230.22 crore and total revenue climbed 9.7% to Rs 3,357.03 crore.

NIIT Limited slumped 1.5% to Rs 47.55 after net in the first-quarter swung to profit of Rs 0.60 crore compared to a loss of Rs 9.40 crore and revenue rose 1.4% to Rs 225.30 crore.

Polaris Financial Technology Ltd plunged 7.4% to Rs 214.50 after net profit in the first-quarter plummeted 28.7% to Rs 22.77 crore and net revenue jumped 5.8% to Rs 500.50 crore.

Yes Bank Limited dropped 1.7% to Rs 536.65 after net profit in the first-quarter climbed 9.6% to Rs 439.48 crore and total revenue jumped 9.3% to Rs 3,105.21 crore.