India Movers: Bajaj Auto, MphasiS, Mahindra & Mahindra

Mukesh Buch
23 Nov, 2010
New York City

Stock in Mumbai slumped. Bajaj Auto Ltd. gained 2.9% as it focuses on expanding its dealer network. MphasiS surged 8.5% after annual net profit rose 20%. Mahindra & Mahindra agreed to acquire 70% stake in South Korea based Ssangyong Motor for $465 million.

[R]6:00 PM Mumbai – Stock in Mumbai slumped. Stock in Mumbai slumped. Bajaj Auto Ltd. gained 2.9% as it focuses on expanding its dealer network. MphasiS surged 8.5% after annual net profit rose 20%. Mahindra & Mahindra agreed to acquire 70% stake in South Korea based Ssangyong Motor for $465 million.[/R]

The BSE Sensex slumped 1.33% or 265.75 to close at 19,691.84. The CNX Nifty on the National Stock Exchange declined 75.25 to close at 5,934.75.

Gainers & Losers

Bharati Shipyard Limited soared 3.5% to Rs 237.10 after the ship maker and windmill power said it proposes to acquire a majority 51% equity stake and management control in south-based Tebma Shipyards for Rs 75.75 crore.

Bajaj Auto Ltd. gained 2.9% to Rs 1,642.50 after the two and three-wheeler vehicle maker plans to increase its dealership network and upgrade its service centres by next festive season.

JAI Corp Limited declined 7.2% to Rs 243.25 on profit booking after the stock increased 16.41% to Rs 262.15 in a single trading session on November 22.

MphasiS Limited surged 8.5% to Rs 614.90 after the information technology provider said year ended October 2010, consolidated net profit rose 20.04% to Rs 1,090.75 crore.

Mahindra & Mahindra Limited fell 0.8% to Rs 759.70 after the conglomerate today signed a deal to buy a 70% stake in South Korea''s Ssangyong Motor $463 million.

Murli Industries Limited tumbled 2.9% to Rs 90.00 after the cement and pulp mill on profit taking after the stock rose 18.45% to Rs 92.75 in a single trading session on November 22.

National Aluminium Company Limited slumped 1.7% to Rs 374.30 after the aluminum, cast metal maker traded on London Metal Exchange, fell 0.87% to $3,700.90 on October 22.

RR Financial Consultants Ltd. increased 9.8% and locked at upper limit to Rs 102.90 after the investment and portfolio manager extending gains for the second consecutive day, after the board will meet on November 26 to consider issue of bonus shares.

Shri Lakshmi Cotsyn Limited slipped 1.1% to Rs 173.85 after the textile manufacturer turned ex-dividend November 23, for Rs 3 per share for the year ended June.

Sadbhav Engineering Limited fell 0.6% to Rs 1,414.55 after the engineering construction company fixed December 8 as the record date for a 10-for-1 stock split.

Subex Limited decreased 1% to Rs 80.55 after the telecom application provider secured an overseas order for one of its software products for undisclosed sum.

Tilaknagar Industries Ltd. tumbled 2.2% to Rs 112.20 after the beverage industry entered into an agreement to acquire 100% stake in Goa-based -- Kesarval Springs Distillers.