Sensex Declines 1.3%, Infosys Profit Jumps 7%

Mukesh Buch
10 Oct, 2014
New York City

Aban Offshore secured two orders worth Rs 1,114 crore from ONGC. Cairn India plunged after second-quarter crude production declined 11% at Rajasthan fields. Infosys net climbed 7.3% on 5% jump in revenue. JSW Steel declined despite 11% increase in revenues.

[R]6:00 PM Mumbai – Aban Offshore secured two orders worth Rs 1,114 crore from ONGC. Cairn India plunged after second-quarter crude production declined 11% at Rajasthan fields. Infosys net climbed 7.3% on 5% jump in revenue. JSW Steel declined despite 11% increase in revenues.][/R]

The Sensex Index declined 339.90 or 1.3% to close at 26,297.38 The CNX Nifty dropped 100.60 to 7,859.95.

For the week, both Sensex and CNX Nifty slipped 1.3%.

Gainers & Losers

Aban Offshore Limited surged 9.4% to Rs 621.50 after the company secured two orders worth Rs 1,114 crore from ONGC.

Cairn India Limited plunged 4.5% to Rs 285 after the company said crude production from Rajasthan fields in the second-quarter declined 11% to 163,262 barrels per day compared to the first-quarter.

Infosys Limited soared 6.7% to Rs 3,888.95 after net profit in the second-quarter climbed 7.28% to Rs 3,096 crore and revenues jumped 4.48% to Rs 13,342 crore.

JSW Steel Limited declined 5.9% to Rs 1,142.55 after the company said second-quarter crude steel production jumped 11% to 3.30 million tons from a year ago period.

Power Finance Corporation Limited increased 1.1% to Rs 240.85 after the company granted loans of Rs 15,000 crore to Andhra Pradesh for power infrastructure.

Ramco Systems Limited increased 1.8% to Rs 463.70 after the company secured three orders for about $5 million.