India Movers : Kesoram, LIC Housing, Murli Industries

Mukesh Buch
24 Nov, 2010
New York City

Stock in Mumbai declined. Dr. Reddy''s gained 1.1% after acquire agreed to acquire GlaxoSmithKline

[R]6:00 PM Mumbai – Stock in Mumbai declined. Stock in Mumbai declined. Dr. Reddy''s gained 1.1% after acquire agreed to acquire GlaxoSmithKline’s U.S. penicillin manufacturing site. LIC Housing Finance tumbled 18.3% after investigators question company officials. Siemens India consolidated net profit rose 7.54% to Rs 757.77 crore.[/R]

The BSE Sensex declined 1.18% or 231.99 to close at 19,459.85. The CNX Nifty on the National Stock Exchange tumbled 69.00 to close at 5,865.75.

Gainers & Losers

Abbott India Limited increased 3.3% to Rs 1,472.75 after the pharmaceutical company board of directors to consider a proposal for merger of Solvay Pharma India with the company.

Aegis Logistics Limited rose 0.1% to Rs 350.65 after the oil storage and distribution company entered into a major deal with APM Terminals Pipavav for a port infrastructure project.

Dr. Reddy's Laboratories Limited gained 1.1% to Rs 1,782.60 after the pharmaceutical company said it will acquire London-based GlaxoSmithKline plc''s US penicillin manufacturing site in Bristol, Tennessee.

Gujarat NRE Coke Limited rose 0.4% to Rs 57.75 after the metcoke and coking coal maker's Australian subsidiary declared impressive results for the half year ended September.

Hi-Tech Gears Limited surged 5.2% to Rs 267.00 after the gears and transmission component maker fixed December 2 record date for ratio of a 1-for-1 bonus issue.

JSW Energy Limited slipped 2.6% to Rs 108.10 after the power generation & distribution agreed to buy Canadian coal miner CIC Energy Corp for Canadian dollar $422 million.

Kesoram Industries Limited fell 1.9% to Rs 269.90 after the tires; cement; rayon, and chemicals maker stock turned November 24 for interim dividend of Rs 2.25 per share for the year ending March 2011.

LIC Housing Finance Limited tumbled 18.3% to Rs 1,068.55 after the Central Bureau of Investigation has questioned the top officials of the company in connection with an alleged multi-crore fake home loans scandal.

Mahindra & Mahindra Limited soared 3.2% to Rs 784.25 after the conglomerate on November 23, signed a deal to buy 70% stake in South Korea's Ssangyong Motor $463 million.

Murli Industries Limited surged 11.3% to Rs 99.30 after the cement and pulp mill said board will meet on December 2 to consider hiving off cement unit at Chandrapur, Maharashtra into a separate entity.

McNally Bharat Engineering Company Limited rose 0.5% to Rs 230.80 after the reports the company plans to take its export revenue to over Rs 500 crore by March 2013 from Rs 100 crore this fiscal.

Nestle India Limited gained 2.6% to Rs 3,774.45 after the food products maker said its Swiss parent Nestle SA, hiked its stake in the company by 0.8% to 62.76% through open market purchases during the quarter ended September.

Pennar Industries Limited increased 2.8% to Rs 50.65 after the steel product maker said its shares will be listed in the National Stock Exchange from November 25.

Siemens Limited fell 0.2% to Rs 787.20 after the industry, energy and healthcare company reported year ended consolidated net profit rose 7.54% to Rs 757.77 crore.

Varun Shipping Company Limited rose 0.1% to Rs 36.60 after the Baltic Dry Index, which tracks rates to ship dry commodities, gained nearly 1% in London on November 23.

Yuken India Limited slumped 1.3% to Rs 283.30 after the oil hydraulic manufacturer entered into a memorandum of understanding with Clenergen Corporation, a US based company for purchase of power from a gasification power plant to be set up at its site.