India Movers : LIC Housing Finance, IDBI, Punjab National Bank

Mukesh Buch
25 Nov, 2010
New York City

Stock in Mumbai fell as banks and developers led the decliners. Bank of India, Canara Bank, LIC Housing and Punjab National Bank fell more than 5%. Hindustan Construction Company plunged nearly 11% as its unit Lavasa is probed by regulators.

[R]6:00 PM Mumbai – Stock in Mumbai fell as banks and developers led the decliners. Bank of India, Canara Bank, LIC Housing and Punjab National Bank fell more than 5%. Hindustan Construction Company plunged nearly 11% as its unit Lavasa is probed by regulators.[/R]

The BSE Sensex declined 0.73% or 141.69 to close at 19,318.16. The CNX Nifty on the National Stock Exchange decreased 66.00 to close at 5,799.75.

Gainers & Losers

BGR Energy Systems Limited plunged 7.5% to Rs 647.00 after the engineering construction company denied connection with the ongoing loan scandal involving LIC Housing Finance and some PSU banks.

Bank of India tumbled 5.8% to Rs 420.30 after the Central Bureau of Investigation on November 24, unearthed a multi-crore loan scam.

Bharti Airtel Limited gained 1% to Rs 335.05 after the telecommunication provider extending gains for the second consecutive day.

Cravatex Ltd. declined 9.8% to Rs 570.00 after on profit booking after the stock soared over 43% in the preceding four trading sessions.

Hindustan Construction Company Limited plunged 10.9% to Rs 49.50 after the infrastructure company''s unit Lavasa Corporation was among the companies involved in a bribery scandal that led to arrests of eight top officials of banks and financial firms.

MIC Electronics Limited fell 0.4% to Rs 35.55 after the video display; telecom software maker won multiple orders worth Rs 23.89 crore for LED lighting systems.

McNally Bharat Engineering Company Limited advanced 3.3% to Rs 237.25 after the engineering company extending gains for the second day, the company plans to take its export revenue to over Rs 500 crore by March 2013 from Rs 100 crore this fiscal.

Murli Industries Limited surged 11.9% to Rs 111.20 after the paper board, news print, captive power generation extending gains for the second day, after the company said its board will meet on December 2 to consider hiving off cement unit at Chandrapur, Maharashtra

Power Grid Corporation of India Limited fell 0.3% to Rs 96.60 after the bulk power transmission shares allotted in its recently completed follow-on public offer were admitted to trading November 25.

Punjab National Bank slumped 6.3% to Rs 1,183.75 after the The Central Bureau of Investigation has arrested the DGM of Punjab National Bank base in New Delhi. Chairman and managing director, K R Kamath told the media that the loans sanctions were in the ordinary course of the business.

Sun Pharmaceuticals Industries Limited rose 0.4% to Rs 456.25 after the pharmaceutical company secured tentative approval from the US drug regulator to market a generic version of Cymbalta duloxetine hydrochloride delayed-release capsules.

Shriram EPC Limited decreased 3.3% to Rs 201.00 after the engineering construction and project management received a coal handling plant order worth Rs 68 crore from Steel Authority of India.

Tata Motors Limited fell 0.9% to Rs 1,206.30 after the automobile company''s American depository receipt increased 10.77% to $36 on the New York Stock Exchange on November 24.