TCS tanked 7.41 percent on profit booking and lower than expected revenue numbers in the quarter ended September 2014. HCL Technologies crashed over 6 percent after its revenue missed expectations. Tech Mahindra was down 4.53 percent.
Crompton Greaves under pressure post earnings
Crompton Greaves missed street expectations on every parameter with the second quarter consolidated net profit rising 19 percent year-on-year to Rs 69.6 crore. Profit in the year-ago period was Rs 58.41 crore. The stock fell nearly 2 percent. According to the average of estimates of analysts polled by CNBC-TV18, profit was expected at Rs 80.2 crore on revenue of Rs 3,508 crore for the quarter. Consolidated net sales grew by 5.8 percent to Rs 3,430.3 crore in the quarter ended September 2014 compared to Rs 3,241.35 crore in corresponding quarter of last fiscal.
Market Check
Equity benchmarks started of Friday's trade on a positive note post yesterday's sharp cut but it could not sustain those gains. It got back to consolidation mode with the Sensex rising 2.70 points to 26002.04, and the Nifty falling 4.60 points to 7743.60. About 781 shares have advanced, 373 shares declined, and 33 shares are unchanged. Hero Motocorp gained 1.68 percent post a 58 percent jump in second quarter net profit. Bharti Airtel, M&M, ITC, HUL, Zee Entertainment (ahead of earnings) and Asian Paints rallied 1.2-1.7 percent. TCS tanked 7.41 percent on profit booking and lower than expected revenue numbers in the quarter ended September 2014. HCL Technologies crashed over 6 percent after its revenue missed expectations. Tech Mahindra was down 4.53 percent.
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