Wholesale Price Index in India Falls 2.6% in April

Mukesh Buch
14 May, 2015
New York City

Castrol India said net in the quarter soared 46%. Emami net climbed 25%. Oriental Bank net swung to profit. Pantaloons Fashion net loss narrowed. Umang Dairies net remained unchanged but revenues dropped.

[R]6:00 PM Mumbai – Castrol India said net in the quarter soared 46%. Emami net climbed 25%. Oriental Bank net swung to profit. Pantaloons Fashion net loss narrowed. Umang Dairies net remained unchanged but revenues dropped.[/R]

Stocks opened lower and market indexes quickly dropped 1% despite the decline in wholesale price index.

Sensex index recovered in late afternoon and trimmed losses and rupee regained some of the lost ground in the last week of trading but still hovered near the four-month low.

The wholesale price index in April declined to 2.65% compared to 5.55% in the same period a year ago, reported by Ministry of Commerce.

Rupee strengthened 39 paisa to 63.61 against one U.S. dollar.

The Sensex Index fell 45.04 to close at 27,206.06. The CNX Nifty slid 11.25 to 8,224.20.

Gainers & Losers

Aditya Birla Chemicals (India) Limited increased 2.5% to ₹217.50 after the chemical products maker said net in the fourth-quarter surged 1052% to ₹8.56 crore.

Total revenues in the quarter increased 3.6% to ₹271.63 crore.

Ashoka Buildcon Limited climbed 6.6% to ₹164.10 after the infrastructure developer said net in the fourth-quarter surged 178.8% to ₹37.80 crore.

Total revenues in the quarter soared 32% to ₹803.03 crore.

Castrol India Limited rose 0.8% to ₹482 after the lubricating oil maker said net in the fourth-quarter climbed 46.4% to ₹146.70 crore.

Net revenues in the quarter increased 1.2% to ₹842.70 crore.

Dalmia Bharat Ltd advanced 2.9% to ₹484 after the sugar maker said net in the fourth-quarter swung to profit of ₹47.28 crore compared to a loss of ₹5.17 crore in the same period last year.

Net sales in the quarter soared 59.3% to ₹1,231.26 crore.

Emami Limited jumped 7.9% to ₹1,016.10 after the personal and healthcare products maker said net in the fourth-quarter climbed 24.5% to ₹138.33 crore.

Total revenues in the quarter soared 25.7% to ₹583.31 crore.

Man Industries (India) Ltd surged 14.5% to ₹69.30 after the carbon steel line pipes maker received an export orders worth ₹510 crore for oil & gas sector.

Lupin limited declined 3.7% to ₹1,628.50 after the pharmaceutical products maker agreed to acquire Brazil-based drug maker Medquímica Indústria Farmacêutica SA. The value of the deal was not disclosed.

Oriental Bank of Commerce soared 6.3% to ₹205.90 after the financial services provider said net in the fourth-quarter swung to profit of ₹178.44 crore compared to a loss of ₹310.32 crore.

Total revenues in the quarter rose 1.1% to ₹5,719.39 crore.

The bank added ratio of gross non-performing assets in the quarter declined to 5.18% compared with 5.43% in the same period a year ago.

Pennar Industries Limited climbed 6.1% to ₹50.45 after the steel products maker said net in the fourth-quarter soared 115.9% to ₹16 crore.

Net sales in the quarter climbed 14.2% to ₹366.70 crore.

Pantaloons Fashion & Retail Limited decreased 0.5% to ₹168.10 after the apparel retailer said net loss in the fourth-quarter narrowed to ₹63.74 crore.

Net sales in the quarter climbed 12.5% to ₹450.51 crore.

Techno Electric & Engineering Company Limited edged down 0.1% to ₹390.10 after the construction services provider said that its subsidiary sold 44.45 megawatts wind power assets for ₹215 crore in Tamil Nadu.

Umang Dairies Limited declined 5.9% to ₹59.50 after the dairy products provider said net in the fourth-quarter remained unchanged at ₹3.57 crore.

Net sales in the quarter dropped 23.1% to ₹67.01 crore.