Sensex in India Jumps 0.5%; Bharti Net Surges

Mukesh Buch
05 Aug, 2015
New York City

Bharti said quarterly profit soared 40%. Emami net climbed 24%. Canara Bank net declined 47% as the bank struggles with loan losses. Torrent Power net doubled. Balaji Telefilms reacquires 26% stake from a unit of 21st Century Fox.

[R]6:00 PM Mumbai – Bharti said quarterly profit soared 40%. Emami net climbed 24%. Canara Bank net declined 47% as the bank struggles with loan losses. Torrent Power net doubled. Balaji Telefilms reacquires 26% stake from a unit of 21st Century Fox.

Market indexes in Mumbai traded higher and rupee held firm a day after the Reserve Bank left rates unchanged and signalled improving economic conditions.

Rupee closed unchanged at to 63.75 against one U.S. dollar.

The Sensex Index jumped 151.15 or 0.5% to close at 28,223.08. The CNX Nifty increased 51.05 or 0.6% to 8,567.95.

Gainers & Losers

Bharti Airtel Limited advanced 1.7% to ₹420.65 after the largest wireless network services provider said net in the first-quarter soared 40.2% to ₹1,554 crore.

Total revenues in the quarter rose 3.1% to ₹23,671 crore.

Balaji Telefilms Limited surged 19.9% to ₹95.25 after the company acquired back 26% stake in the company from Dubai-based Star Middle East FZ LLC, a unit of 21st Century Fox for about ₹107 crore in the company.

Star India Pvt Ltd sold the stake it acquired over 11 years ago, 21% in 2004 for ₹123 crore and later increased through an open market offer,

The average transaction price was 63.60 a share, lower than the closing price of 79.40 on Tuesday. The video content producer is scheduled to release its quarterly results on August 13.

The Canara Bank Ltd decreased 1.8% to ₹303.55 after net in the first-quarter tumbled 40.7% to Rs 478.84 crore. Net revenues in the quarter rose 4.5% to ₹12,252.64 crore.

The bank said the ratio net non-performing assets in the quarter jumped 2.74% compared with 2.65% in March and 2.03% in a year ago month.

The ratio of gross non-performing assets in the quarter climbed 3.98% compared with 3.89% in March and 2.67% in the same period last year.

Deepak Fertilisers and Petrochemicals Corporation Limited gained 2.1% to ₹143 after net in the first-quarter jumped 13.8% to ₹45.33 crore.

Net revenues in the quarter advanced 13.5% to ₹1,072.18 crore.

Emami Limited increased 1.2% to ₹1,343.05 after net in the first-quarter climbed 23.9% to ₹87.75 crore.

Net revenues in the quarter jumped 20.7% to ₹608.36 crore.

Marico Limited edged down 0.5% to ₹440.20 after net in the first-quarter soared 28% to ₹238 crore.

Net revenues in the quarter jumped 10% to ₹1,783 crore.

Shree Cement Limited advanced 2.2% to ₹11,700 after the cement maker said net in the fourth-quarter plunged 62.4% to ₹104.11 crore.

Total revenues in the quarter added 3.2% to ₹1,763.82 crore.

Titan Company Limited increased 1.2% to ₹319.35 after branded watches maker plans to buy 2.18% stake from Tata Steel.

Torrent Power Limited jumped 2.5% to ₹167.90 after net in the first-quarter soared 101.2% to ₹173.48 crore.

Net revenues in the quarter climbed 16.5% to ₹3,063.11 crore.