Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls

HCL Technologies (8.27% up)

The HCL Technologies stock rose 8.27% after the firm reported third quarter profit of Rs344 crore, up 58% over a year ago, beating street estimates. Revenue rose 7.5% to Rs3,076 crore in the quarter under review. HCL said revenue was boosted by lower than expected foreign exchange losses.

Zee Entertainment (3.25% up)

Shares of Zee Entertainment Ltd closed up 3.25% after the firm reduced debt significantly and approved acquisition of 9x, a general entertainment channel owned by INX Media Pvt. Ltd. Zee reduced its gross debt to Rs59 crore as of March, against Rs575 crore a year ago.

Axis Bank (4.25% up)

Shares of Axis Bank gained 4.25% after fourth quarter earnings, led by a robust 41% year-on-year growth in net interest income, beat the street estimates. The bank reported a 38.5% rise in net profit to Rs2,514.53 crore in the year ended March compared with the year-ago period.

Binani Cements (8.48% up)

The Binani Cements stock rose 8.48% on news that the board will be meeting on 23 April to consider a share buy-back proposal. The board will consider buying back shares aggregating up to 25% of the paid-up capital and free reserves of the company as on 31 March, the firm said.

Infotech Ent (6.48% up)

Shares of Infotech Enterprises closed up 6.48% after the firm posted a net profit of Rs170.8 crore for the year ended 31 March, up 84.7% over last year. The board announced a 40% dividend—Rs2 per share of Rs5 each —and also a 1:1 bonus share for subscribers.