India Movers: Coal India, MTNL, Nitin Fire, Tata Sponge

Mukesh Buch
04 Nov, 2010
New York City

Stock in Mumbai soared on the back of a rally in Asia. Coal India Limited surged 25% on the first day of its trading. MTNL declined 2.9%. Nitin Fire Protection plunged despite higher profit. Tata Sponge Iron decreased 2.2% after net profit declined 28.7%.

[R]6:00 PM Mumbai – Stock in Mumbai soared on the back of a rally in Asia. Coal India Limited surged 25% on the first day of its trading. MTNL declined 2.9%. Nitin Fire Protection plunged despite higher profit. Tata Sponge Iron decreased 2.2% after net profit declined 28.7%.[/R]

The BSE Sensex soared 2.09% or 427.83 to close at 20,893.57. The CNX Nifty on the National Stock Exchange gained 121.30 to close at 6,281.80.

Gainers & Losers

Bharat Petroleum Corporation Limited fell 0.5% to Rs 760.60 as crude oil prices rise 1% in international trading.

Coal India Limited surged to Rs 342.35 after the miner emerge as the fifth largest firm on the first day of trading and priced its offering at Rs 245.

Confidence Petroleum India Limited soared 5% to Rs 22.05 after the petroleum company signed a joint venture agreement with Zhejiang Chint Instrument & Meter Co based in China to develop gas meters business in India.

Engineers India Limited fell 0.01% to Rs 345.75 after the engineering construction company said second quarter net profit rose 13.84% to Rs 119.94 crore.

Hindustan Composites Limited soared 3.7% to Rs 541.55 after the fiber-based materials maker net reported second quarter profit surged 1,951.61% to Rs 6.36 crore.

Jay Shree Tea & Industries Limited rose 0.8% to Rs 191.00 after the tea, chemicals and fertilizer maker reported second quarter net profit surged 33.41% to Rs 44.24 crore.

Mahanagar Telephone Nigam Limited declined 2.9% to Rs 67.55 after the second quarter net loss of Rs 604.89 crore as against net profit of Rs 21.30 crore from a year ago.

Nitin Fire Protection Industries Limited plunged to Rs 78.20 after the fire fighting equipment maker said second quarter consolidated net profit surged 126.3% to Rs 13.76 crore.

Neyveli Lignite Corporation Limited gained 4.3% to Rs 169.15 on the strong debut of the Coal India.

National Fertilizers Limited declined 4.9% to Rs 131.70 after on profit booking after the stock spurted 18.05% in the three preceding trading sessions.

Pratibha Industries Limited rose 0.3% to Rs 78.20 after the construction company secured a Rs 63-crore contract from Raheja Universal for constructing residential buildings in Mumbai.

Pioneer Embroideries Limited rose 0.6% to Rs 31.90 after the garment accessory maker reported second quarter net loss of Rs 3.37 crore compared to net profit of Rs 14.67 crore from a year ago.

Rasoya Proteins Limited fell 0.06% to Rs 90.70 after the soya crude oil maker board allotted one crore warrants of Rs 10 each at premium of Rs 26.

Surya Pharmaceutical Limited gained 3.3% to Rs 341.60 after the pharmaceutical company board approved a 10-for-1 stock split.

Tata Sponge Iron Limited decreased 2.2% to Rs 370.00 after the sponge iron maker reported second quarter net profit declined 28.65% to Rs 10.41 crore.

Venus Remedies Limited declined 1.1% to Rs 293.20 after the pharmaceutical formulation company on the back of certification of operation in Saudi Arabia.

Zee Entertainment Enterprises Limited gained 2% to Rs 297.35 after the investors accumulated the stock ahead of the record date for the issue of 1-to-1 bonus shares.