India Movers: Hero Honda, Tata Consultancy, GMR, Reliance Comm

Mukesh Buch
15 Dec, 2010
New York City

Oil refiners and marketers rose after a retail price increase. Manganese Ore Limited surges on its first day of trading. Reliance Communications struck deal with China Development Bank for $1.93 billion. Ambalal Sarabhai Enterprises Ltd faces delisting.

[R]5:00 PM Mumbai – Oil refiners and marketers rose after a retail price increase. Manganese Ore Limited surges on its first day of trading. Reliance Communications struck deal with China Development Bank for $1.93-billion. Ambalal Sarabhai Enterprises Ltd faces delisting.[/R]

The BSE Sensex decreased 0.7% or 151.42 to close at 19,647.77. The CNX Nifty on the National Stock Exchange fell 51.80 to close at 5,892.30.

Gainers & Losers

Ambalal Sarabhai Enterprises Limited plunged 15.5% to Rs 7.86 after the Bombay Stock Exchange said it will suspend trading in pharmaceutical company for failure to comply with various clauses of the Listing Agreement.

Bharat Petroleum Corporation Limited gained 3.2% to Rs 699.00 after state controlled companies hiked retail petrol prices by Rs 2.95 a litre.

Crest Animation Studios Limited surged 5.4% to Rs 83.00 after the extending two-day 25.2% rally, after the company signed agreement for production of DVD feature film ''Swan Princess''.

Golden Tobacco Limited increased 2.7% to Rs 85.05 after the cigarette maker was active in bulk trading.

GMR Infrastructure Limited declined 3.2% to Rs 46.10 after the holding company on profit booking after the stock rose 8.29% in the preceding three sessions to Rs 47.65 on December 14 from a recent low of Rs 44 on December 9.

Hero Honda Motors Limited tumbled 5.4% to Rs 1,621.30 after the motorcycle maker board approved the purchase of Honda stake of 26%.

Lanco Infratech Limited rose 0.4% to Rs 61.30 after the infrastructure company''s Australian unit agreed to acquire Griffin Coal Mining Co and Carpenter Mine Management for $820 million.

Manganese Ore India Ltd public offering soared 51% to Rs 580 on its first day of trading and closed down at Rs 465. The offering was priced at Rs 375.

Nu Tek India Limited gained 4.9% and locked to Rs 20.05 after the telecom infrastructure provider raised $44.4 million through an issue of global depositary receipts.

Patni Computer Systems Limited soared 4.7% to Rs 482.65 after a consortium of Carlyle Group and Advent International with former Wipro vice-chairman Vivek Paul is expected to bid for the company.

Punj Lloyd Ltd. plunged 4.2% to Rs 104.95 after the engineering construction on profit taking after the stock increased about 11% in the preceding three trading sessions.

Polyplex Corporation Limited decreased 1.2% to Rs 638.10 after the plastic film maker company fixed December 25 as the record date for issuing one bonus share for every share held.

PTC India Limited gained 2.8% to Rs 118.55 is planning to launch initial public offering of its financial services unit PTC India Financial Services in the current fiscal year that ends in March 2011.

Reliance Communications Limited rose 0.8% to Rs 129.10 after the telecommunication reports the company has struck deal with China Development Bank for $1.93-billion syndicated loan, to refinance short-term debt and buy telecom network equipment.

SKS Microfinance Limited slipped 3.1% to Rs 721.35 after the non-banking finance company Andhra Pradesh state assembly approved tighter rules for micro lenders.

The Shipping Corporation of India Limited tumbled 4.8% to Rs 132.45 after the lock period expired for its recently allotted shares in a public offering.

Tata Consultancy Services Limited increased 2.4% to Rs 1,101.25 and information technology company paid higher advance tax of Rs 230 crore for third quarter to December compared to Rs 177 crore a year ago.

Tata Motors Limited gained 1.2% to Rs 1,320.20 automobile company''s global vehicle sales, including Jaguar Land Rover, rose 6% to 79,959 units in November from a year ago.

VA Tech Wabag Ltd. rose 0.4% to Rs 1,505.00 after the infrastructure firm in joint venture with Nagarjuna Construction Company International LLC, won Rs 170 crore orders from Oman-based Majis Industrial Services S.A.O.C.