Bajaj Fin, Kajaria, Net Surge; Tata Acquires NTT DoCoMo Stake

Mukesh Buch
14 Jan, 2015
New York City

Bajaj Finance profit climbed 33%. Kajaria Ceramics net surged 55%. LIC Housing Finance net rose 5%. Reserve bank allowed Tata Sons to acquire Japan-based NTT DoCoMo Inc''s stake worth $1.1 billion in Tata Teleservices.

[R]6:00 PM Mumbai – Bajaj Finance profit climbed 33%. Kajaria Ceramics net surged 55%. LIC Housing Finance net rose 5%. Reserve bank allowed Tata Sons to acquire Japan-based NTT DoCoMo Inc''s stake worth $1.1 billion in Tata Teleservices.[/R]

Stocks in Mumbai advanced and crude oil price declined to a new six-year low in international markets.

Crude oil futures of immediate delivery fell to $45.85 a barrel for the first time in New York and Brent Crude in London traded at $46.74 a barrel.

The spread between two crude prices also shrank to the lowest in years after UAE minister reaffirmed his nation’s commitment to the current production level.

Wealthy members of Organization of Petroleum Exporting Countries are not looking to cut production and maintain the current supply in the market and are urging non-OPEC nations to cut the supply.

Indian rupee strengthened to 62.18 as oil price declined 20% in international markets in the first two weeks of trading in addition to 48% loss in 2014.

The Sensex Index slipped 78.91 or 0.3% to close at 27,346.82. The CNX Nifty slid 21.85 or 0.3% to 8,277.55.

Gainers & Losers

Bajaj Finance Limited climbed 8.1% to Rs 3,765.75 after the financial service provider said net in the third-quarter surged33.08% to Rs 258.38 crore.

Revenues soared 37.34% to Rs 1,485.39 crore.

Kajaria Ceramics Limited jumped 2.7% to Rs 637.80 and the vitrified tiles maker reported net in the third-quarter surged 55.02% to Rs 45.61 crore.

Net revenues climbed 30.10% to Rs 556.45 crore.

LIC Housing Finance Limited dropped 1.9% to Rs 453.95 after the housing finance company said net in the third-quarter increased 5.43% to Rs 344.34 crore.

Net revenues advanced 15.1% to Rs 2,735.78 crore.

PVR Limited slipped 1.8% to Rs 720.35 after the movie house operator plans to buy Chennai-based Sathyam Cinemas for as much as Rs 700 crore.

Tata Sons Limited, after the Reserve bank allowed conglomerate to acquire Japan-based NTT DoCoMo Inc''s stake worth $1.1 billion in its subsidiary Tata Teleservices (Maharashtra) Limited.

YES Bank, Ltd. rose 0.6% to Rs 786.80 and the financial service provider said net in the third-quarter surged 30% to Rs 540.29 crore.

Net revenues climbed 20.89% to Rs 3,508.47 crore.

Zomato Media Pvt. Ltd, after the restaurant research service provider agreed to acquire the U.S.-based UrbanSpoon.com for a price between $50 million and $60 million.

The restaurant review app on mobile platform developer is active in 22 countries and recently raised $60 million from Info Edge, Sequoia Capital and Vy. In all, the company has raised $113 million.

With the acquisition, Zomato anticipates its current monthly traffic to surge closer to 80 million or 8 crore visitors from 35 million or 3.5 crore.