India Movers: L&T, Godrej Properties, HDFC Bank, ONGC

Mukesh Buch
18 Oct, 2010
New York City

Larsen & Toubro increased more than 1% after its second quarter net from operations increased 19.6%. Godrej Properties declined 3.6% after quarterly net fell 26.4%. HDFC Bank second quarter net surged 21.6%.

[R]6:30 PM Mumbai – Larsen & Toubro increased more than 1% after its second quarter net from operations increased 19.6%. Godrej Properties declined 3.6% after quarterly net fell 26.4%. HDFC Bank second quarter net surged 21.6%.[/R]

Stocks in Mumbai fell 1% by mid-day but rebounded by the close as the Coal India public offering was subscribed more than thirty percent on the first day. The week marks the beginning of $20 billion offering slated to be completed in the next six months.

Gainers & Losers

Bharat Seats Limited surged 4.7% to Rs 23.10 after the automobile seat maker said second quarter net profit soared 92.54% to Rs 2.58 crore.

Bharat Petroleum Corporation Limited gained 0.7% to Rs 701.00 after the government on October 15 hiked petrol prices by 70 paise per litre.

Commercial Engineers & Body Builders Company plunged 13.3% to Rs 110.00 from the initial public offer price of Rs 127.

Dr. Reddy''s Laboratories Limited rose 0.8% to Rs 1,595.00 after the pharmaceutical company received approval from the US Food & Drug Administration to market Lansoprazole delayed release capsules in United States.

Godrej Properties Ltd. slipped 3.6% to Rs 704.50 after the construction company said second quarter consolidated net profit declined 26.4% to Rs 32.91 crore.

HDFC Bank Limited increased 1% to Rs 2,411.00 after it reported second quarter net profit soared 21.62% to Rs 807.54 crore.

Idea Cellular Limited rose 0.1% to Rs 72.40 after the mobile company added 1.48 million mobile users in September, lower than 1.99 million subscribers it added in August.

Jay Bharat Maruti Limited spurted 19.9% to Rs 98.15 after the auto component maker said second quarter net profit jumped 133% to Rs 10.30 crore.

Jyothy Laboratories Limited gained 3.2% to Rs 292.70 after the fabric whiteners maker is in talks with Safechem Industries to buy laundry detergent brand Safed.

Kiri Dyes and Chemicals Limited soared 4.9% to Rs 632.00 after the reactive dyes & intermediates maker’s board decided to open bidding for a proposal qualified institutional placement of shares on October 21.

Larsen & Toubro Limited increased 1.1% to Rs 2,013.15 after the engineering, construction said second quarter profit after tax from ordinary activities rose 19.59% to Rs 694.14 crore.

Oil and Natural Gas Corporation Limited gained 1.4% to Rs 1,360.50 after the oil exploration company said it has made two new discoveries of oil and gas reserves.

Sasken Communication Technologies Ltd surged 8.4% to Rs 218.10 after the telecommunication software company said its board of directors will consider a proposal for buyback of shares at a meeting scheduled on October 21.

State Bank of Bikaner and Jaipur increased 2.9% to Rs 755.30 after the bank said second quarter net profit surged 41.48% to Rs 127.52 crore.

Surana Telecom and Power Limited surged 10.2% to Rs 20.40 after the petro products maker said that it won a solar power project of 5 megawatt capacity from the state government of Gujarat.

S.E. Investments Ltd gained 2.3% to Rs 47.05 after the finance and non conventional energy provider said second quarter net profit jumped 209.14% to Rs 17.83 crore.

Steel Strips Wheels Limited soared 9.4% to Rs 340.55 after the automotive wheel rim maker secured an export order worth Rs 15 lakh from a Middle East customer for supply of 400 truck wheels rims.

State Bank of Mysore slumped 2% to Rs 895.00 after the treasury bank said second quarter net profit fell 5.35% to Rs 93.36 crore.

Shiva Cement Limited surged 19.9% and was locked to Rs 10.70 after the cement maker said its cement dispatches grew 12.6% in September from a year ago.

Sudarshan Chemicals Industries Limited rose 1.8% to Rs 628.45 after the organic and inorganic pigment maker said second quarter net profit rose 18.48% to Rs 16.67 crore.

The Karnataka Bank Limited declined 1.5% to Rs 179.55 after the private sector bank second quarter net profit surged 75.7% to Rs 28.72 crore

Venus Remedies Limited rose 0.4% to Rs 312.40 after the pharmaceutical company secured a patent in Australia and Ukrain for its Potentox. The drug used in the treatment of pneumonia, already has patents in India, South Korea, South Africa and New Zealand, the company said in a statement in Mumbai today.