Sensex in India Jumps 1.3%, Asian Paints, Nestle, Tata Coffee Net Climb

Mukesh Buch
18 May, 2015
New York City

Sensex in Mumbai advanced on the rate cut prospects and normal monsoon season. Asian Paints said net climbed 19%. Jain Irrigation net and revenues surged. Nestle India net jumped 24%. Tata Coffee net more than doubled on 13% increase in revenues. Torrent Pharma net plunged 47%.

[R]6:00 PM Mumbai – Sensex in Mumbai advanced on the rate cut prospects and normal monsoon season. Asian Paints said net climbed 19%. Jain Irrigation net and revenues surged. Nestle India net jumped 24%. Tata Coffee net more than doubled on 13% increase in revenues. Torrent Pharma net plunged 47%.[/R]

Market indexes in Mumbai surged on the expectations of normal arrival of monsoon and investors raised the prospect of another rate cut at the next meeting of the Reserve Bank.

Rupee weakened 21 paisa to 63.72 against one U.S. dollar.

The Sensex Index jumped 363.30 or 1.3% to close at 27,687.30. The CNX Nifty gained 111.30 or 1.4% to 8,373.65.

Gainers & Losers

Asian Paints Limited declined 2.8% to ₹767.60 after the paint maker said net in the fourth-quarter climbed 18.6% to ₹341 crore, lower than expected by analysts.

Net revenues in the quarter advanced 6.9% to ₹3,535 crore.

Bharti Airtel Limited increased 1.1% to ₹396.80 after the largest wireless services provider signed an agreement to raise up to $2.5 billion from China Development Bank and Industrial and Commercial Bank of China.

Corporation Bank, the financial services provider said net in the fourth-quarter increased 8.4% to ₹45.07 crore.

Total revenues in the quarter advanced 7% to ₹5385.28 crore.

The bank said ratio of gross non-performing assets in the quarter jumped 4.81% compared to 3.42% in the same period last year and the ratio of net non-performing assets also rose 3.08% compared with 2.32% in the same period a year ago.

Jain Irrigation Systems Limited surged 17.3% to ₹66.70 after irrigation system provider said net in the fourth-quarter soared 30.8% to ₹98.50 crore.

Total revenues in the quarter jumped 11.9% to ₹2,104.10 crore.

Nestle India Limited rose 0.8% to ₹7,072 after the consumer products maker said net in the first-quarter soared 23.6% to ₹320.28 crore.

Total revenues in the quarter advanced 8.1% to ₹2,541.95 crore.

Oracle Financial Services Software Limited fell 0.6% to ₹3,470 after the software services provide said net in the fourth-quarter slipped 7.7% to ₹230.37 crore.

Total revenues in the quarter increased 1.3% to ₹949.76 crore.

Sterlite Technologies Limited jumped 4.3% to ₹66 after the power transmission company said net in the fourth-quarter surged 285.5% to ₹39.13 crore.

Total revenues in the quarter soared 51.6% to ₹979.10 crore.

Tata Coffee Limited climbed 7.3% to ₹96.70 after the coffee products maker said net in the fourth-quarter soared 141.5% to ₹39.42 crore.

Net sales in the quarter jumped 13.4% to ₹424.36 crore.

Tata Motors Limited decreased 0.9% to ₹514.75 after truck and motor vehicle maker said that its April global wholesales sales including Jaguar Land Rover increased 4% from a year ago month to 77,701 units.

Torrent Pharmaceuticals Limited dropped 2.4% to ₹1,227.05 after the generic pharmaceutical products maker said net in the fourth-quarter plunged 46.7% to ₹130 crore.

Total sales in the quarter rose 1.5% to ₹1,254 crore.