Sensex in India Falls 0.7%; Infosys Net Jumps 12%

Mukesh Buch
12 Oct, 2015
New York City

Infosys said net in the quarter jumped 12% on 9% increases in revenues. Tata Steel said September crude steel production increased 9%. Hindustan Construction secured a contract from nuclear recycle plant of BARC at Tarapur near Mumbai.

[R]6:00 PM Mumbai – Infosys said net in the quarter jumped 12% on 9% increases in revenues. Tata Steel said September crude steel production increased 9%. Hindustan Construction secured a contract from nuclear recycle plant of BARC at Tarapur near Mumbai.[/R]

Stocks in Mumbai reacted to domestic corporate news and investors focused on the upcoming earnings from software exporters and banks.

Rupee weakened 1 paisa to 64.74 against one U.S. dollar.

The Sensex Index slipped 175.40 or 0.7% to close at 26,904.11. The CNX Nifty fell 46.10 or 0.6% to 8,143.60.

Gainers & Losers

Hindustan Construction Company Limited advanced 2.2% to ₹22.95 construction services provider received a contract worth ₹942.58 crore from nuclear recycle plant of BARC at Tarapur, Maharashtra.

Infosys Limited dropped 3.9% to ₹1,122.50 after net in the second-quarter jumped 12.1% from a year ago to ₹3,398 crore.

Net revenues in the quarter advanced 8.9% to ₹15,635 crore.

Inox Wind Limited increased 1.7% to ₹373.30 after the wind power solutions provider secured a 50 megawatt order from Tata Power Renewable Energy.

Kolte-Patil Developers Limited advanced 2.1% to ₹184 after the real estate developer plans to raise ₹110 crore through a non-convertible debenture offering.

Maruti Suzuki India Limited fell 0.9% to ₹4,232.20 after the largest motorcycle maker received approval from shareholders to raise foreign institutional investors limit to 40% from 24%.

Tata Steel Limited edged up 0.2% to ₹251.15 after the steel producer said September hot metal production rose 3% to 2.66 million tons.

Steel producer added crude steel production jumped 11% to 2.51 million tons and saleable steel production advanced 9% to 2.41 million tons.

Zensar Technologies Limited surged 15.2% to ₹968.65 after the infrastructure services provider said the U.S. based Apax Partners agreed to acquire 23.2% stake in the company.