India Movers: Coal India, Jain Irrigation, PowerGrid, Reliance Power

Mukesh Buch
08 Nov, 2010
New York City

Stock in Mumbai fell. Coal India Limited declined 3.4% after surging 40% on the first day of offering last week. Jain Irrigation Systems soared 4.1% after net profit rose 46%. Reliance Power rose 4.5% after get credit of $5 billion from Exim bank. PowerGrid Corp sets the price for its offering.

[R]6:00 PM Mumbai – Stock in Mumbai fell. Coal India Limited declined 3.4% after surging 40% on the first day of offering last week. Jain Irrigation Systems soared 4.1% after net profit rose 46%. Reliance Power rose 4.5% after get credit of $5 billion from Exim bank. PowerGrid Corp sets the price for its $1.7 billion offering.[/R]

The BSE Sensex fell 0.20% or 41.19 to close at 20,852.38. The CNX Nifty on the National Stock Exchange declined 39.25 to close at 6,273.20.

Gainers & Losers

Aksh Optifibre Limited surged 10.3% to Rs 23.40 after the optical fiber cable and FRP rod maker reported second quarter net loss of Rs 3.93 crore, lower than net loss of Rs 6.74 crore from a year ago.

ARSS Infrastructure Projects Limited gained 1.3% to Rs 1,131.00 after the construction company said second quarter net profit surged 205.67% to Rs 16.72 crore.

Aban Offshore Limited increased 1.3% to Rs 841.00 after the oil field service provider reported second quarter consolidated net profit rose 5.21% to Rs 75.16 crore.

B&A Limited soared 12.6% to Rs 151.00 after the tea plantation company said second quarter net profit rose 9.3% to Rs 7.99 crore.

Balrampur Chini Mills Limited surged 7.1% to Rs 94.15.

Coal India Limited declined 3.4% to Rs 330.60 after rising 40% on the first day of trading last week.

Chartered Logistics Limited advanced 10% to Rs 32.75 after the courier and logistic service provider extending gains for third consecutive day after the board recommended bonus of 1-to-1 shares.

Four Soft Limited soared 222% to Rs 25.25 after the software company won a contract from Dooley Rumble Group of U.K. to implement warehouse management application across multiple locations of the British firm.

Golden Tobacco Ltd gained 1% to Rs 85.95 after the tobacco maker reported second quarter net loss of Rs 8.77 crore compared to net profit of Rs 0.12 crore from a year ago.

Glenmark Pharmaceuticals Limited surged 5.8% to Rs 376.90 after the pharmaceutical company completed phase-III trials for its Crofelemer drug.

Hindustan Petroleum Corporation Limited plunged 3.3% to Rs 467.50 after the international crude oil prices reached at a 2-year high.

IFGL Refractories Limited increased 2.6% to Rs 52.70 after the company said second quarter consolidated net profit fell 59% to Rs 4.16 crore.

Jain Irrigation Systems Limited soared 4.1% to Rs 233.00 after the sprinkler pipe maker reported second quarter net profit rose 45.65% to Rs 61.99 crore.

Power Grid Corporation of India Limited fell 2.9% to Rs 98.35 after the power distributor set the price range for its secondary public offer at Rs 85 to Rs 90 per share. PowerGrid is expected to raise as much as $1.7 billion or Rs 6,400 crore.

Pratibha Industries Limited 3.6% to Rs 78.55 after the engineering company secured Rs 37.44 crore construction contract from Godavari Marathwada Irrigation Development Corporation in Aurangabad.

Reliance Power Limited rose 4.5% to Rs 172.10 after the firm announced $5 billion or Rs 22,200 crore, line of credit from the Export-Import Bank of the U.S. for renewable energy and gas plants.

Spicejet Limited gained 4.8% to Rs 91.65 after the airliner said it will buy 30 commercial aircraft from US manufacturer Boeing in a deal worth about $2.7 billion.

Yash Papers Limited surged 8.2% to Rs 10.00 after the paper maker reported second quarter net profit four-fold to Rs 1.22 crore.