India Movers: DB Realty, Dewan Housing, Geometric Ltd, REC and Suzlon

Mukesh Buch
30 Nov, 2010
New York City

Stock in Mumbai rose. Dewan Housing Finance is expected to acquire Deutsche Postbank Home Finance for $240 million. Ispat Industries gained 2.2% on a speculation that ArcelorMittal may acquire a stake in the trading company.

[R]6:00 PM Mumbai – Stock in Mumbai rose. Dewan Housing Finance is expected to acquire Deutsche Postbank Home Finance for $240 million. Ispat Industries gained 2.2% on a speculation that ArcelorMittal may acquire a stake in the trading company.[/R]

The BSE Sensex rose 0.6% or 116.15 to close at 19,521.25. The CNX Nifty on the National Stock Exchange gained 32.70 to close at 5,862.70.

Gainers & Losers

Balrampur Chini Mills Limited rose 0.9% to Rs 76.50 after the sugar maker reported the government may allow sugar exports if the country's sugar output tops 24.5 million tons in the new season that is one month old.

Dewan Housing Finance Corporation Limited fell 0.6% to Rs 273.80 after the company emerged the front-runner to acquire Deutsche Postbank Home Finance in a deal at $240 million, or roughly Rs 1,100 crore.

DQ Entertainment (International) Ltd. fell 0.6% to Rs 93.70 after the animation maker and licensor signed deals with German and Belgium-based firm for retailing its products in Germany, Austria and Switzerland.

D B Realty Ltd. soared 5% and locked to Rs 207.90 after the reality developer’s managing directors clarified that company was not involved in the bribe-for-loan scam.

Geometric Limited surged 8.4% to Rs 72.30 after the software engineering firm said it is in negotiations with German firm for buyout and earmarked $20 million to $30 million for acquisitions over next three years.

Ispat Industries Limited gained 2.2% to Rs 17.95 after the steel and textiles trading company said ArcelorMittal may be exploring the possibility of acquiring a stake in the Indian company.

Mahindra & Mahindra Financial Services Limited rose 0.9% to Rs 782.30 after the company's board approved raising up to Rs 570 crore.

Patel Engineering Ltd. soared 5.7% to Rs 333.25 after the civil construction firm said it seeking authorization from shareholders to raise funds by issuing securities in domestic and overseas markets.

Rural Electrification Corporation Limited surged 9.4% to Rs 349.70 after the public financial institution said board of directors approved proposal for foreign currency borrowings not exceeding $500 million.

Simbhaoli Sugars Limited gained 12.4% to Rs 47.55 after the sugar power and iron product maker reported fourth quarter net loss of Rs 39.18 crore compared to net profit of Rs 23.58 crore for the same period of year ago.

Suzlon Energy Limited increased 2.9% to Rs 47.60 after the wind power European subsidiary REpower Systems AG signed two contracts with UK based wind energy company Energiekontor UK Construction.

Zenith Birla (India) Limited advanced 1.1% to Rs 10.31 after the steel pipes and cutting tools maker said to setting up manufacturing unit for large diameter special purpose pipes.