India Movers: Dr Reddy

Mukesh Buch
08 Dec, 2010
New York City

Stocks in Mumbai trading declined and local oil refiners plan to raise retail price of gasoline. Karuturi agreed to buy 54% stake in Mumbai-based floral chain Florista. Ruchi Soya tumbled 27%on the prospect insider trading investigation. Wipro won telecom line operation contract from Vodafone Essar.

[R]6:00 PM Mumbai – Stocks in Mumbai trading declined and local oil refiners plan to raise retail price of gasoline. Karuturi agreed to buy a 54% stake in Mumbai-based floral chain Florista. Ruchi Soya tumbled 27% on the prospect o insider trading investigation. Wipro won a telecom line operation contract from Vodafone Essar.[/R]

The BSE Sensex declined 1.1% or 238.16 to close at 19,696.48. The CNX Nifty on the National Stock Exchange decreased 72.85 to close at 5,903.70.

Gainers & Losers

Ashok Leyland Limited declined 2.2% to Rs 71.05 on the worries that the commercial vehicle maker may face sales pressure on the rising fuel prices.

Bhushan Steel Limited decreased 2% to Rs 447.85 after the zinc cold-rolled product official told that demand is weaker than expected and raw materials prices are on the rise.

Dr. Reddy''s Laboratories Limited rose 0.6% to Rs 1,841.40 after the pharmaceutical company’s American depository receipt rose 1.56% to $41.76 on the New York Stock Exchange on December 7.

Hindustan Petroleum Corporation Limited gained 3.3% to Rs 409.95 after the oil refiner’s planning to raise prices of petrol and diesel by Rs 2 a liter each.

HDFC Bank Limited decreased 3% to Rs 2,280.15 after the bank''s American depository receipt tumbled 4.09% to $179.10 on the New York Stock Exchange on December 7.

INOX Leisure Limited increased 3% to Rs 66.00 after the movie theater chain operator said that the Securities and Exchange Board of India has cleared the company''s open offer for Fame India at Rs 51 per share.

Kingfisher Airlines Limited tumbled 7.2% to Rs 63.85 after the Federation of Indian Airlines said late on December 7, member decided to publish different fare levels for each route.

Karuturi Global Limited plunged 9.9% to Rs 19.85 after the rose cultivation company said it will buy a 54% stake in Mumbai-based floral designing chain Florista.

Oil and Natural Gas Corporation Limited rose 0.5% to Rs 1,344.45 after the oil exploration company said board will meet on December 16 to consider bonus share issue, stock-split and payment of special dividend ahead of planned share sale.

Ruchi Soya Industries Limited tumbled 27% to Rs 89.30 after the vanaspati oil and food product maker may be the target of the Intelligence Bureau suspect investigation.

State Bank of Bikaner and Jaipur soared 6.3% to Rs 679.35 after the bank said board will meet on December 10 to approve a letter of offer to raise up to Rs 800 crore in a rights issue.

Tantia Construction Limited slipped 2.6% to Rs 79.50 after the general civil infrastructure said it received an order of Rs 37.32 crore.

Uflex Limited slumped 33.1% to Rs 163.00 after the plastic and metalized film maker clarified that the conviction of its chief executive Ashok Chaturvedi in a land-allotment case was in his personal capacity and will not have any financial implication on the company.

Wipro Limited fell 0.1% to Rs 434.00 after the information technology won an outsourcing contract from Vodafone Essar to build and manage the fixed line telecom service business.