India Movers: Adani, Money Matters, HCC, Jet Air

Mukesh Buch
26 Nov, 2010
New York City

Stock in Mumbai plunged for the second day as regulators widen loan scandal probe. Banks declined more than 5%. Bank of India gained 2.9% after positive comments on loan procedures. Jet Airways plunged 7.1% after aviation minister warned against sudden fare increase.

[R]6:00 PM Mumbai – Stock in Mumbai plunged for the second day as regulators widen loan scandal probe. Banks declined more than 5%. Bank of India gained 2.9% after positive comments on loan procedures. Jet Airways plunged 7.1% after aviation minister warned against sudden fare increase.[/R]

The BSE Sensex plunged 0.94% or 181.55 to close at 19,136.61. The CNX Nifty on the National Stock Exchange declined 47.80 to close at 5,751.95.

Gainers & Losers

Archies Limited fell 0.7% to Rs 38.75 after the gift retailer secured an overseas order worth 4 million euro from a Russian company for supply of greeting cards.

Alphageo (India) Limited declined 3.2% to Rs 169.30 after the seismic survey provider secured an order of Rs 12 crore from Essar Oil for acquisition of seismic data in the state of Assam.

Adani Enterprises Limited plunged 16.9% to Rs 584.70 after the conglomerate said that the Securities & Exchange Board of India is examining the possibility of insider trading.

Apollo Tyres Ltd. declined 5.3% to Rs 63.35 after the tyre maker said rubber prices have risen sharply in recent weeks.

Bank of India gained 2.9% to Rs 432.75 after the bank clarified that it has a proper structure for sanctioning loans, which is duly observed and that the asset quality continues to be good.

D B Realty Limited slipped 9.9% to Rs 211.75 after the real estate on concerns property prices may slump as loan scam hits bank funding.

Glodyne Technoserve Limited decreased 8.9% to Rs 967.15 after the board approved sub-division of equity shares of Rs 10 each into shares of face value Rs 6 each.

Hindustan Construction Company Ltd tumbled 19.9% to Rs 39.85 after the infrastructure reports the environment ministry has asked Lavasa Corporation to halt building a new town outside Pune.

India Infoline Limited slipped 12.2% to Rs 80.85 after the financial services company reported some brokers sold shares after their clients were unable to pay adequate margins.

Jet Airways (India) Limited plunged 7.1% to Rs 799.00 after the aviation reports civil aviation minister Praful Patel has warned airlines against sudden spike in air fares.

Jaiprakash Associates Limited slumped 8.2% to Rs 105.50 after the media reports named the company in an alleged loan bribery scandal.

Jaiprakash Power Ventures Limited declined 4.1% to Rs 50.70 after the power transmission company''s chairman Manoj Gaur said the firm has received a notice from the Central Bureau of Investigation and is complying with the probe.

Mahindra & Mahindra Limited decreased 3% to Rs 757.65 after the conglomerate agreed to acquire up to 5.5% stake in Tech Mahindra from British Telecommunications over time through an inter-se transfer between promoters.

Murli Industries Limited tumbled 19.9% and locked to Rs 89.00 on profit taking, after the stock soared 42% in the preceding four sessions.

Money Matters Financial Services Ltd slumped 9.9% to Rs 382.55 after the non-banking investment company''s board is meeting today. The company is in the center of the loan scandal probe that has rattled financial markets and bank stocks.

Pratibha Industries Limited plunged 10.3% to Rs 64.50 after the water transmission and distributor raised Rs 50 crore through issue of equity shares to Van Dyck, a unit of ChrysCapital V LLC.

The Great Eastern Shipping Company Limited fell 0.2% to Rs 374.60 after the shipping company signed a contract to buy a general-purpose product tanker.