Sensex in India Falls 0.4%; Maruti, Alembic, Axis Bank Net Jump

Mukesh Buch
27 Oct, 2015
New York City

Maruti Suzuki, the largest automaker said quarterly profit soared 42% on 13% increases in revenues. Alembic profit jumped but Lupin profit declined. Axis Bank and State Bank of Mysore profit surged. Blue Star net swung to a loss.

[R]6:00 PM Mumbai, India – Maruti Suzuki, the largest automaker said quarterly profit soared 42% on 13% increases in revenues. Alembic profit jumped but Lupin profit declined. Axis Bank and State Bank of Mysore profit surged. Blue Star net swung to a loss.[/R]

Stocks in Mumbai traded lower and largest automaker Maruti reported better –than-expected earnings.

Rupee weakened 1 paisa to 64.96 against one U.S. dollar.

The Sensex Index dropped 108.52 or 0.4% to close at 27,253.44. The CNX Nifty fell 27.65 or 0.3% to 8,232.90.

Gainers & Losers

Alembic Pharmaceuticals Limited slipped 2.1% to ₹664.35 after the pharmaceutical products maker reported net in the second-quarter surged more than three-fold or 274% from a year ago to ₹289 crore.

Net sales in the quarter soared 85% to ₹1,018 crore.

Axis Bank Limited edged up a fraction to ₹521.30 after the private lender said net in the second-quarter jumped 18.9% from a year ago to ₹1,915.64 crore.

Net revenues in the quarter advanced 13.8% to ₹12,001.01 crore.

The bank said the ratio of gross non-performing assets in the quarter was unchanged at 1.38% in June quarter and increased 1.34% in the same period last year.

The ratio of net non-performing assets in the quarter was unchanged at 0.48% and increased from 0.44% in a year ago period.

Blue Star Limited rose 0.8% to ₹363.05 after the electronics products maker reported net in the second-quarter swung to a loss of ₹5.79 crore compared to profit of ₹9.05 crore in the same period last year.

Net sales in the quarter gained 12.4% to ₹710.46 crore.

Lupin Limited declined 5.3% to ₹1,945.65 after the drug maker said net in the second-quarter tumbled 35.1% from a year ago to ₹408.84 crore.

Net sales in the quarter rose 1.9% to ₹3,178.30 crore.

Manpasand Beverages Limited increased 1.4% to ₹441.70 after the fruit juices maker signed a partnership with ice cream & food retailer Havmor Ice Cream.

Maruti Suzuki India Limited advanced 2.4% to ₹4,494.60 after the largest auto maker said net in the second-quarter soared 42.1% from a year ago to ₹1,225.60 crore.

Net sales in the quarter advanced 13.2% to ₹13,574.80 crore.

State Bank of Mysore gained 2.9% to ₹439 after the financial services provider net in the second-quarter soared 29.5% from a year ago to ₹131.98 crore.

Net sales in the quarter increased 3.7% to ₹1,969.96 crore.

Vedanta Limited edged up 0.1% to ₹104.85 after the diversified natural resources operator said net in the second-quarter plunged 39% from a year ago to ₹1,933 crore.

Net sales in the quarter dropped 16% to ₹16,349 crore.