Sensex in India Dropped 1.5%; Pfizer, Hindalco, NHPC Net Soar

Sarla Buch
10 Nov, 2015
New York City

Pfizer, the Indian unit of the drug maker said quarterly profit surged more than expected. The central government plans to sell 5% stake in Container Corporation of India. Hindalco net surged 31%. Hindustan Petroleum net swung to loss. NHPC net and revenues soared.

[R]6:00 PM Mumbai, India – Pfizer, the Indian unit of the drug maker said quarterly profit surged more than expected. The central government plans to sell 5% stake in Container Corporation of India. Hindalco net surged 31%. Hindustan Petroleum net swung to loss. NHPC net and revenues soared.[/R]

Stocks in Mumbai trading declined following the region-wide decline in Asian trading.

Markets in India are scheduled to close on Wednesday and Thursday to celebrate Diwali and the New Hindu Year.

Rupee strengthened 13 paisa to 66.31 against one U.S. dollar.

The Sensex Index declined 378.14 or 1.5% to close at 25,743.26. The CNX Nifty slipped 131.85 or 1.7% to 7,783.35.

Gainers & Losers

Container Corporation of India Limited decreased 1% to ₹1,386 after the transportation services provider said the central government plans to sell 5% stake in the company.

The government currently holds 61.8% in the company.

Financial Technologies (India) Limited jumped 3.7% to ₹101.95 after the consultancy services provider plans to sell 3.6% stake in Indian Energy Exchange for ₹100 crore and 1.61% stake to SG BRIC III for ₹34.64 crore.

The company also plans to sell 3.02% stake to Singuler Guff NJDM Investment Holdings for ₹64.99 crore.

Hindalco Industries Limited edged down 0.4% to ₹79.45 after the aluminum and copper producer said net in the second-quarter surged 31.1% from a year ago to ₹103.27 crore.

Net revenues in the quarter increased 6.4% to ₹9,342.14 crore.

Hindustan Petroleum Corporation Limited tumbled 7.6% to ₹733.55 after the oil and gas explorer net in the second-quarter swung to loss from a year ago to ₹320.50 crore.

Total revenues in the quarter declined 18.4% to ₹ 42,367.60 crore.

Maxwell Industries Limited declined 5.1% to ₹49.80 after the garment retailer reported net in the second-quarter swung to loss from a year ago to ₹6.27 crore.

Total revenues in the quarter plunged 26.3% to ₹49.79 crore.

NHPC Limited gained 2.8% to ₹18.30 after the hydroelectric power generation company said net in the second-quarter surged 72.6% from a year ago to ₹1,180.87 crore.

Total revenues in the quarter soared 21% to ₹2,813.71 crore.

Pfizer Limited edged up 0.3% to ₹2,446.05 after the pharmaceutical products maker said net in the second-quarter surged 3,402.3% from a year ago to ₹61.64 crore.

Net sales in the quarter gained 6.4% to ₹506.45 crore.

The State Trading Corporation of India Limited advanced 2.8% to ₹157.60 after net in the second-quarter swung to profit from a year ago to ₹1.02 crore.

Net revenues in the quarter soared 79.6% to ₹4973.75 crore.