Sensex Jumps 1.4%; Adani, Lupin, Torrent Struggle with Earnings

Mukesh Buch
13 May, 2015
New York City

Sensex index in Mumbai surged 1.3% and 10-Year bond yield closed at 7.94%. Reliance Jio raised $750 million from a Korean lender to roll out its 4G telecom services. Ashok Leyland said revenues soared 47%. Adani net plunged 74%. Lupin net fell 1%. Torrent Power net rose 2%.

[R]6:00 PM Mumbai – Sensex index in Mumbai surged 1.3% and 10-Year bond yield closed at 7.94%. Reliance Jio raised $750 million from a Korean lender to roll out its 4G telecom services. Ashok Leyland said revenues soared 47%. Adani net plunged 74%. Lupin net fell 1%. Torrent Power net rose 2%.[/R]

Stocks in Mumbai rebounded and market indexes traded higher despite weaker earnings from Adani Enterprises, Ashok Leyland, Lupin and Torrent Power.

Rupee strengthened 15 paisa to 64 against one U.S. dollar.

The Sensex Index jumped 373.62 or 1.4% to close at 27,251.10. The CNX Nifty increased 108.50 or 1.3% to 8,235.45.

Gainers & Losers

Ashok Leyland Limited slipped 3.3% to ₹69.60 after the commercial vehicle maker said net in the fourth-quarter tumbled 36.7% to ₹229.97 crore.

Total revenues in the quarter surged 46.6% to ₹4,542.95 crore.

Adani Enterprises Limited soared 6.9% to ₹720.55 after the conglomerate said net in the fourth-quarter plunged 74.1% to ₹737.17 crore.

Total revenues in the quarter rose 0.5% to ₹16,507.65 crore.

Hindalco Industries Limited decreased 2.9% to ₹133.50 after the aluminum and copper producer’s Canada-based subsidiary Novelis reported net in the fourth-quarter tumbled 46.3% to $29 million.

Net sales in the quarter climbed 12% to $2.8 billion.

Ingersoll-Rand (India) Limited dropped 4.4% to ₹901.20 after the Industrial air compressors maker said net in the fourth-quarter declined 17.7% to ₹17.62 crore.

Net sales in the quarter jumped 12.3% to ₹146.37 crore.

Lupin limited declined 3.4% to ₹1,690.60 after the generic pharmaceutical products maker said net in the fourth-quarter decreased 1.1% to ₹547 crore.

Net sales in the quarter edged up to ₹3,054 crore.

Reliance Industries Limited increased 1.9% to ₹884.80 after the conglomerate’s subsidiary Reliance Jio Infocomm raised $750 million or ₹4,815 crore from a Korean lender to fund its ongoing network roll-out under its fourth-generation (4G) telecom licence in India.

Torrent Power Limited jumped 4.4% to ₹164.85 after the electric utility operator said net in the fourth-quarter increased 2.3% to ₹181.61 crore.

Net revenues in the quarter advanced 13% to ₹2,742.72 crore.