Sensex Wipes Out 2015 Gain; Bharti, ICICI, Maruti Net Jump

Mukesh Buch
27 Apr, 2015
New York City

Market indexes in Mumbai turned lower and rupee dropped to a five-month low. Bharti Infratel net in the quarter jumped 18%. ICICI Bank net and revenues climbed. Maruti Suzuki India net soared 61%. Ultratech Cement net declined 24% but revenues rose 5%.

[R]6:00 PM Mumbai – Market indexes in Mumbai turned lower and rupee dropped to a five-month low. Bharti Infratel net in the quarter jumped 18%. ICICI Bank net and revenues climbed. Maruti Suzuki India net soared 61%. Ultratech Cement net declined 24% but revenues rose 5%.[/R]

Market indexes and rupee fell selling pressure and as the latest earnings announcements added to the growing list of companies missing estimates.

The widely followed Sensex index dropped 0.9% and wiped out gains in the year, rupee extended losses fell to the low last seen in December.

Rupee weakened 8 paisa to 63.48, and the currency dropped 1.9% in the last five days in the largest retreat in seven months.

The Sensex Index declined 260.95 or 0.9% to close at 27,176.99. The CNX Nifty dropped 91.45 or 1.1% to 8,213.80.

Gainers & Losers

Andhra Bank gained 1.5% to ₹76.05 after the financial services provider said net in the fourth-quarter surged 110.3% to ₹185.24 crore.

Total revenues in the quarter climbed 15.8% to ₹4,699.16 crore.

Bharti Infratel Limited jumped 5.9% to ₹395.40 after the wireless service infrastructure provider said net in the fourth-quarter climbed 18.01% to ₹557.50 crore.

Net revenues increased 6.2% to ₹3,116.50 crore.

ICICI Bank Limited slipped 1.9% to ₹302.40 after the private bank said net in the fourth-quarter advanced 10.81% to ₹2,922 crore. Total sales in the quarter jumped 12.23% to ₹16,234.73 crore.

The ratio of non-performing assets in the quarter increased 1.92% compared to 1.9% in the same period last year.

JSW Energy Limited plunged 7.1% to ₹106.65 after the third largest steel maker said net in the fourth-quarter surged 86.24% to ₹325.22 crore.

Net revenues in the quarter rose 5.03% to ₹2,219.36 crore.

Maruti Suzuki India Limited advanced 3% to ₹3,646.70 after the largest automaker said net in the fourth-quarter soared 60.51% to ₹1,284.24 crore.

Total revenues in the quarter climbed 11.48% to ₹13,944.74 crore.

Siemens India Limited increased 2.7% to ₹1,265.95 after the diversified engineering conglomerate said net in the second-quarter soared 83.4% to ₹161.87 crore.

The revenues in the quarter fell 0.7% to ₹2,696.48 crore.

Ultratech Cement Limited slipped 1.9% to ₹2656.45 after the cement maker said net in the fourth-quarter plunged 24% to ₹657.20 crore.

Net sales in the quarter gained 5.4% to ₹6,518.18 crore.