India Movers: Apollo, Hero Honda, ONGC, UltraTech

Mukesh Buch
02 Dec, 2010
New York City

Apollo Hospitals plans to sell 49% stake in its pharmacy chain. Hero Honda Group agreed to increase royalty payments to the parent company in Japan. Union Cabinet has approved ONGC stock split. UltraTech Cement November sales fell.

[R]6:00 PM Mumbai –Apollo Hospitals plans to sell 49% stake in its pharmacy chain. Hero Honda Group agreed to increase royalty payments to the parent company in Japan. Union Cabinet has approved ONGC stock split. UltraTech Cement November sales fell.[/R]

The BSE Sensex increased 0.7% or 142.70 to close at 19,992.70. The CNX Nifty on the National Stock Exchange gained 50.80 to close at 6,011.70.

Gainers & Losers

Apollo Hospitals Enterprise Limited gained 4.5% to Rs 508.10 after the healthcare provider executives said that the company planning to raise Rs 550 crore and wants to sell 49% stake in its pharmacy chain.

Bank of Baroda increased 1.4% to Rs 968.15 after the Union Cabinet approved an infusion of Rs 6,000 crore in 10 public sector banks with an objective to raise government holding to minimum 58% in all state-run banks.

Commercial Engineers & Body Builders Company Ltd. declined 19.9% to Rs 59.35 after the bodies for commercial vehicle maker said its half-yearly financial performance was below expectations.

Dewan Housing Finance Corporation Limited surged 7.2% to Rs 298.20 after the housing finance company along with its promoter Wadhawan Housing and Caledonia Investments acquired Deutsche Postbank India Home Finance for Rs 1,079 crore.

Hero Honda Motors Limited tumbled 7.2% to Rs 1,788.25 after the motorcycle maker reports the Hero Group agreed to increase royalty payments made to Japan''s Honda Motor Co. to 8% of overall annual sales in return for a technology makeover and a stake-sale.

IFCI Limited rose 0.9% to Rs 64.15 after the financial services and investment provider picked up an additional 2.02% stake in Tourism Finance Corporation.

Jubilant Life Sciences Limited increased 4.3% to Rs 287.15 after the pharmaceutical company spun off its agri and performance polymers businesses into independent firm to be named Jubilant Industries, effective November 15.

J. B. Chemicals & Pharmaceuticals Ltd. surged 7.8% to Rs 135.55 after the pharmaceutical company said it has won US FDA approval for Diclofenace Sodium tablets in 25 and 50 milligram dosage.

Mastek Limited soared 13.5% to Rs 208.95 after the software developer said its US unit has acquired the assets of SEG Software for an undisclosed amount.

Oil and Natural Gas Corporation Limited increased 1.9% to Rs 1,313.05 after the reports the Union Cabinet has approved a stock split.

UltraTech Cement Limited plunged 4.7% to Rs 1,091.40 after the cement maker said sales declined 9.25% to 2.66 million tons in November from a year ago.