Shares of 8 companies were buzzing on Friday reacting to their announcement and quarterly earnings. The same are as follows:
JM Financial, an integrated financial service group, jumped 13.38% after the company said on Thursday former Citigroup chief executive Vikram Pandit decided to buy a stake in the Indian financial services company. Pandit and Hari Aiyar will buy 3% stake in JM Financial for Rs 450 million.
HeidelbergCement India, a cement manufacturing company, surged 7.79% after media reports said, Bain Capital is in talks with the company to buy 12% stake. The company may divest minority stake.
Mahindra Satyam, a consulting, IT services and engineering solutions provider, fell 1.60% after it reported Thursday a fall of 14.99% in the consolidated net profit to Rs 4.54 billion for the quarter ended Mar. 33, 2013. Total income has increased by 16.20% to Rs 19.36 billion for the quarter ended Mar. 31, 2013 from Rs 16.66 billion in the year ago period.
Sun TV Network, an Indian mass media company reported, plunged 3.17% after it posted Q4 earnings. The company posted a rise of 11.61% in its fourth quarter net profit. It earned profit of Rs 1.77 billion for the quarter ended Mar. 31, 2013, compared with Rs 1.59 billion, a year ago. Revenues came at Rs 4.72 billion, an increase of 10.69% over Rs 4.27 billion in the same period a year ago.
Infinite Computer Solutions (India), a global service provider of infrastructure management, tumbled 19.97% after it posted Q4 results. It reported a rise of 2.27 times in its fourth quarter net profit to Rs 239.1 million. Total income came at Rs 999.9 million, an increase of 23.16% over Rs 811.9 million in the same period a year ago.
Trident, leading textiles and paper manufacturers, extended gain of 4.24% after the company partnered with Accenture for upgrading to SAP ECC 6 version. Accenture would help the company in business transformation and to improve business performance.
Motherson Sumi, the flagship company of the Samvardhana Motherson Group, declined 4.11% after it reported a marginal growth of 0.52% in its fourth quarter consolidated net profit to Rs 1.95 billion. Consolidated total income came at Rs 66.75 billion, an increase of 3.89% over Rs 64.25 billion in the same period a year ago.
Kingfisher Airlines (KFA), the Mallya group company, dropped 3.86% after media reports said that AAI sued the company. State-run Airports Authority of India said Tuesday it has filed two lawsuits against the company in a Mumbai court, seeking Rs 3 billion of unpaid airport-usage fees from the now-grounded carrier.