Wholesale Prices Fall 11th Month in a Row, Zee Net Decline

Mukesh Buch
14 Oct, 2015
New York City

The wholesale price index increase slowed for the 11th month in a row. Hindustan Unilever said profit in the second-quarter fell 3% but revenues rose 4%. Zee Entertainment posted disappoint results net and revenues falls. TTK Prestige net surged 22%.

[R]6:00 PM Mumbai – The wholesale price index increase slowed for the 11th month in a row. Hindustan Unilever said profit in the second-quarter fell 3% but revenues rose 4%. Zee Entertainment posted disappoint results net and revenues falls. TTK Prestige net surged 22%.[/R]

Sensex index in Mumbai trading declined for the third day in a row after the latest read on wholesale price showed a decline for the eleventh month in a row.

The wholesale price index in September slipped 4.54% compared to the fall of 4.95% in August, the Ministry of Commerce & Industry reported.

Rupee strengthened 15 paisa to 65.03 against one U.S. dollar.

The Sensex Index fell 66.87 or 0.3% to close at 26,779.66. The CNX Nifty decreased 23.80 or 0.3% to 8,107.90.

Reserve Bank of India is expected to keep its accommodative stance in place as consumer prices in September increased at a faster pace of 3.7%, but below the central bank’s target of 6%.

Gainers & Losers

Era Infra Engineering Limited soared 4.9% to ₹3.45 after the infrastructure developer secured an order worth ₹177.81 crore for rural electrification works in Uttar Pradesh.

Hindustan Unilever Limited dropped 1.9% to ₹797.40 after net in the second-quarter decreased 2.6% from a year ago to ₹962.24 crore.

Total revenues in the quarter increased 3.8% to ₹8,125.55 crore.

Jubilant Life Sciences Limited advanced 2.7% to ₹394.65 after the pharmaceutical products maker received preliminary application approval from the U.S. Food and Drug Administration for Memantine Hydrochloride Tablets USP.

Sanghvi Forging & Engineering Ltd closed unchanged at ₹46 after forging and fitting company received orders worth ₹10 crore from oil & gas, power and irrigation sectors.

Siemens Limited edged up 0.4% to ₹1,368.50 after the conglomerate’s subsidiary won an order for ₹183 crore from NTPC.

TTK Prestige Limited soared 11.9% to ₹4,280.20 after net in the second-quarter surged 21.7% from a year ago to ₹34.04 crore.

Net revenues in the quarter advanced 10.5% to ₹423.17 crore.

Zee Entertainment Enterprises Limited jumped 3.9% to ₹385.60 after net in the second-quarter slid 1.5% from a year ago to ₹243.76 crore.

Net revenues in the quarter fell 2.5% to ₹1,407.84 crore.