India Movers: Coal India, Maruti, ONGC, Sesa Goa, Tata Motors

Mukesh Buch
01 Dec, 2010
New York City

Stock in Mumbai gained as automobile and cement sales in November surged. Coal India is looking to take a 10% stake in Australian assets of U.S. based Peabody Energy. ONGC expects to launch $3 billion follow-on public offer in March 2011.

[R]6:00 PM Mumbai – Stock in Mumbai gained as automobile and cement sales in November surged. Coal India is looking to take a 10% stake in Australian assets of U.S. based Peabody Energy. ONGC expects to launch $3 billion follow-on public offer in March 2011.[/R]

The BSE Sensex gained 1.6% or 328.75 to close at 19,850.00. The CNX Nifty on the National Stock Exchange rose 98.20 to close at 5,960.90.

Gainers & Losers

Astec Lifesciences Limited surged 4.7% to Rs 65.50 after the pharmaceutical company formed 100% subsidiary to start the business of trading in agrochemicals & pesticides formulation.

ACC Limited rose 0.9% to Rs 997.00 after the cement maker said dispatches rose 4.81% to 1.74 million tonnes in November from a year ago.

Coal India Limited increased 1.2% to Rs 320.50 coal producer’s Chairman Partha Bhattacharyya said the company looking to buy over 10% asset of Australia''s Peabody and has ample funds for overseas acquisitions.

Four Soft Limited soared 10.3% to Rs 21.40 after the software company signed significant contract with US logistics service provider Jacobson Companies.

Great Offshore Limited gained 3.8% to Rs 378.65 after the offshore solution provider won contract from GSPC for deployment of an anchor handling tug supply vessel.

Indowind Energy Limited soared 8.6% to Rs 32.20 after the wind power company said board of directors will meet on December 8 to consider issue of shares with differential voting rights.

Indian Oil Corporation Limited surged 10.9% to Rs 384.10 after the chairman B.M. Bansal told the company likely to sell shares via the follow on public offer at Rs 450 each.

Mahindra Satyam soared 4.9% to Rs 65.35 after the information technology company''s American depository receipt increased 9.81% to $2.91 on the over-the-counter market in the US on November 30.

Maruti Suzuki India Limited rose 0.5% to Rs 1,412.80 after the passenger car maker said total vehicle sales rose 28.2% to 1,12,554 units in November from a year ago.

Mahindra & Mahindra Limited increased 4.5% to Rs 801.00 after the automobile maker said Ssangyong Motor Company''s total vehicle sales rose 65.46% to 7,770 units in November from a year ago.

Oil and Natural Gas Corporation Limited advanced 3.2% to Rs 1,288.50 after the chairman R.S. Sharma told the company expects to launch its $3 billion follow-on public offer in March 2011 and the government will soon decide on the company''s stock split.

Pratibha Industries Limited gained 3.3% to Rs 67.15 after the engineering construction company said it has raised Rs 50 crore by way of preferential allotment to Van Dyck, a subsidiary of Chrys Capital V, LLC.

Ramky Infrastructure Limited gained 1.3% to Rs 347.55 after the infrastructure developer company''s wholly owned subsidiary -- Ramky Engineering and Consultancy Services commenced work on the Gabon Special Economic Zone in Gabon, West Africa.

Strides Arcolab Limited increased 5.3% to Rs 411.65 after the pharmaceutical company got US FDA approval for midazolam hydrochloride injection.

Sesa Goa Limited declined 2.8% to Rs 299.60 after the metals and mining company said it would stop mining operations at Thakurani mine in Orissa from December.

TVS Motor Company Limited rose 0.4% to Rs 82.35 after the two-wheeler automobile company''s total sales rose 29% to 1.57 lakh units in November from a year ago.

Tata Motors Limited gained 4.1% to Rs 1288.15 after the automobile company''s total vehicle sales rose 1% to 54,622 units in November from a year ago.