India Indexes in 7-Day Rally, Ambuja Cements Net Rises

Mukesh Buch
19 Feb, 2015
New York City

Market averages in Mumbai traded higher for the seventh session in a row. Ambuja Cements said net rose 4%. Bharat Forge signed a multi-year contract with the airplane maker Boeing Co. RPP Infra won an order from Karnataka. Supreme Infra net plunged 89%. SKF India net dropped 16%.

[R]6:00 PM Mumbai – Market averages in Mumbai traded higher for the seventh session in a row. Ambuja Cements said net rose 4%. Bharat Forge signed a multi-year contract with the airplane maker Boeing Co. RPP Infra won an order from Karnataka. Supreme Infra net plunged 89%. SKF India net dropped 16%.[/R]

Market indexes remained volatile in the Mumbai trading but in late afternoon averages turned higher and closed up for the seventh day in a row.

Resource and commodities focused companies led the gainers after Greece formally requested loan extension as expected calming the tensions in the euro zone for now.

Indian rupee rose 18 paisa to 62.34 against one dollar.

The Sensex Index gained 142.01 or 0.5% to close at 29,462.27. The CNX Nifty added 26.20 or 0.3% to 8,895.30.

Gainers & Losers

Ambuja Cements Ltd slipped 1.8% to ₹264.55 after the cement maker said net in the fourth-quarter increased 3.81% to ₹328.59 crore.

Net sales gained 7.91% to ₹2,477.22 crore.

Bharat Forge Limited advanced 2% to ₹1,248.10 after the safety component maker signed a multi-year contract with the U.S.-based Boeing Co. to supply titanium forgings for wing components for the 737 line of airplanes.

Petron Engineering Construction Limited jumped 2.6% to ₹221.60 after the construction company won an order worth ₹100 crore from Fine Tech Corporation, the agents of Reliance Industries.

RPP Infra Projects Ltd advanced 1.9% to ₹145.30 after the infrastructure development won an order for about ₹45.80 crore from Karnataka Slum Development Board.

Supreme Infrastructure India Limited dropped 2.5% to ₹251.50 after the infrastructure developer said net in the third-quarter plunged 89% to ₹3.53 crore.

Net sales declined 33.9% to ₹400.93 crore.

SKF India Limited declined 5% to ₹1,400 after the bearings and related component maker reported net in the third-quarter dropped 15.51% to ₹40.88 crore.

Total revenues rose 3.36% to ₹636.99 crore.