Sensex in India Rebounds 0.8%; Yes Bank, Wipro in Focus

Mukesh Buch
22 Apr, 2015
New York City

Market indexes in Mumbai rebounded and the rupee eased. Yes Bank net income in the quarter jumped 28% and Wipro net in the quarter rose 2% on 4% increase in revenues.

[R]6:00 PM Mumbai – Market indexes in Mumbai rebounded and the rupee eased. Yes Bank net income in the quarter jumped 28% and Wipro net in the quarter rose 2% on 4% increase in revenues.[/R]

Market indexes in Mumbai rebounded in tentative trading as investors digested corporate earnings announcements.

Rupee weakened 3 paisa to 62.98.

The Sensex Index jumped 214.09 or 0.8% to close at 27,890.13. The CNX Nifty rose 51.95 or 0.6% to 8,429.70.

Gainers & Losers

8K Miles Software Services Ltd gained 1.9% to ₹717 after the cloud solutions provider plans to acquire U.S.-based Cintel Systems, the mobile application developer.

DIC India Limited surged 14.6% to ₹439 after the printing ink maker said net in the first-quarter swung to profit ₹5.68 crore compared to a loss of ₹24.40 crore.

Net sales in the quarter fell 3% to ₹171.51 crore.

Rain Industries Limited soared 11.9% to ₹40.10 after the chemical products maker said the U.S.based hedge fund controlled by Mohnish Pabrai bought 51.1 lakh shares at ₹35.44 per share.

Sun Pharmaceutical Industries Ltd. gained 1.6% to ₹967.15 after brokers suggested that the recent price weakness is a buying opportunity.

According to the data filed with the stock exchanges, Goldman Sachs, Government of Singapore and a subsidiary of Temasek Holdings, were among the leading buyers of the stock.

VST Industries Limited climbed 9.4% to ₹1,743.05 after the tobacco products maker said net in the fourth-quarter tumbled 21.58% to ₹40.69 crore.

Total revenues in the quarter climbed 15.95% to ₹219.25 crore.

Yes Bank Limited rose 1.4% to ₹795.75 after the financial services provider said net in the fourth-quarter climbed 28.1% to ₹550.90 crore.

Net revenues in the quarter jumped 22.07% to ₹3,678.83 crore.

The ratio of net non-performing assets in the quarter was flat at 0.12% compared to 0.1% in the same period last year.

Wendt (India) Limited jumped 3.7% to ₹1,800 after the surface finishing solutions maker said net in the fourth-quarter surged 117.7% to ₹4.42 crore.

Net sales in the quarter advanced 11.6% to ₹32.74 crore.

Wipro Limited declined 6% to ₹544 after the information services provider reported net in the fourth-quarter rose 2% to ₹2,270 crore.

Total revenues in the quarter increased 4% to ₹12,140 crore.