Sensex in India Falls; Adani Port net Jumps, Adani Power loss Widened

Mukesh Buch
10 Aug, 2015
New York City

Adani Ports said quarterly profit jumped 13% on 32% increase in revenues. Adani Power loss widened. Chambal Fertilisers profit surged 81% on 22% increase in revenues. Rural Electrification quarterly net rose 15%.

[R]6:00 PM Mumbai – Adani Ports said quarterly profit jumped 13% on 32% increase in revenues. Adani Power loss widened. Chambal Fertilisers profit surged 81% on 22% increase in revenues. Rural Electrification quarterly net rose 15%.[/R]

Market indexes on Dalal Street edged lower in active trading and investors focused on widening losses at Adani Power and quarterly net at Adani Port rose less-than-expected.

Rupee weakened 7 paisa to 63.88 against one U.S. dollar.

The Sensex Index slipped 134.67 or 0.5% to close at 28,101.72. The CNX Nifty fell 39 or 0.5% to 8,525.60.

Gainers & Losers

Adani Power Limited dropped 2.3% to ₹27.75 after net loss in the first-quarter widened to ₹417.58 crore compared to ₹303.29 crore in the same period last year.

Net revenues in the quarter jumped 13.2% to ₹5,914.13 crore.

Adani Ports and Special Economic Zone Limited slid 0.4% to ₹338.20 after net in the first-quarter jumped 13% to ₹641 crore.

Net revenues in the quarter surged 32% to ₹1,897 crore.

Chambal Fertilisers and Chemicals Limited soared 9.8% to ₹69.10 after net in the first-quarter surged 81.1% to ₹146.32 crore.

Net revenues in the quarter climbed 22.2% to ₹2,440.23 crore.

Gujarat State Petronet Limited climbed 6.5% to ₹133.15 after net in the first-quarter soared 32.7% to ₹112.76 crore.

Net sales in the quarter advanced 10.9% to ₹255.68 crore.

Godrej Properties Limited soared 6.4% to ₹301.05 and the company is in talks with Abbott India to sell office space in its BKC project for about ₹950 crore.

Jaiprakash Associates Limited plunged 7.5% to ₹11.02 after net loss in the first-quarter widened to ₹465 crore compared to ₹80.61 crore in a year ago period.

Net sales in the quarter declined 20.7% to ₹2,377.54 crore.

Ramco Systems edged down 0.3% to ₹967.75 after the software developer won a new order from the U.S.-based Christian mission organization Mission Aviation Fellowship and help in tracking inventories and maintenance operations.

Last month, the company won a multi-million dollar contract from Cobham Aviation Services.

Ramco stock has surged more than 175% in the last one year.

Rural Electrification Corporation Limited rose 0.9% to ₹269.10 after net in the first-quarter jumped 15.3% to ₹1,478.58 crore.

Total revenues in the quarter climbed 21.3% to 5,709.63 crore.

Sadbhav Engineering Limited advanced 2.6% to ₹343.15 after infrastructure developer secured two road projects worth ₹1,556.96 crore from National Highways Authority of India.

Thomas Cook (India) Limited slipped 1.3% to ₹217.20 after the company agreed to acquire its rival Switzerland-based Kuoni Group’s business in India and Hong Kong for about ₹535 crore.