India Movers: Ispat Industries, TCS, Powersoft, ONGC

Mukesh Buch
16 Dec, 2010
New York City

Camlin Fine Chemicals entered into a pact to acquire Italy based Borregaard. Ispat Industries may be acquired by Steel Authority of India. Suzlon Energy concluded contract for the delivery of 25 wind turbines.

[R]6:00 PM Mumbai – Camlin Fine Chemicals entered into a pact to acquire Italy based Borregaard. Ispat Industries may be acquired by Steel Authority of India. Suzlon Energy concluded contract for the delivery of 25 wind turbines.[/R]

The BSE Sensex rose 0.3% or 65.66 to close at 19,864.85. The CNX Nifty on the National Stock Exchange gained 56.45 to close at 5,948.75.

Gainers & Losers

Balrampur Chini Mills Limited rose 0.4% to Rs 79.45 after the farm ministry permitted the exports of 500,000 tons of sugar.

Bajaj Auto Ltd. declined 2.5% to Rs 1,456.05 on the worries that the recent fuel price hike and raw material prices increase may crimp margins.

Bhushan Steel Limited surged 7.3% to Rs 450.30 after the steel maker reported that the company agreed to purchase coal from Australian based Resource Generation''s Boikarabelo mine in South Africa for 20 years.

Bank of Baroda decreased 1.1% to Rs 894.20 after the Reserve Bank of India cut the statutory liquidity ratio to ease liquidity pressures and left key interest rates unchanged after a mid-quarter policy review December 16.

Camlin Fine Chemicals Limited soared 15.4% to Rs 83.00 after the fine chemical manufacturer agreed to acquire a company in Italy.

Confidence Petroleum India Limited increased 1% to Rs 19.10 after the LPG cylinders distributor said it commenced commercial operation of four additional auto LPG dispensing stations two each in Karnataka, one in Gujarat and one in Tamil Nadu.

Glodyne Technoserve Limited tumbled 6.8% to Rs 737.50 after the information technology company’s US arm won five-year multi-million dollar infrastructure management services contract form one of the largest retailer.

Geometric Limited gained 2.1% to Rs 70.40 after the software and engineering solutions provider signed global services pact with Dasault Systemes.

Ispat Industries Limited soared 8.1% to Rs 22.55 on the speculation that Steel Authority of India is likely to acquire the company.

JK Tyre & Industries Ltd. decreased 1.2% to Rs 137.90 after the automotive tires said that the company is expected to increase prices between 4% and 5%.

Oil and Natural Gas Corporation Limited fell 0.2% to Rs 1,329.10 an the company board declared a special dividend of Rs 32 and agreed to issue one share bonus for stock held.

PBA Infrastructure Limited slipped 1.7% to Rs 62.95 after the infrastructure developer secured road construction contract worth Rs 25.65 crore from Pimpri Chinchwad Municipal Corporation in Pune.

Powersoft Global Solutions Limited soared 6.9% to Rs 20.00 after the technology software company fixed December 28 as the record date for a 1-for-1 bonus issue.

R.P.P. Infra Projects Limited surged 5.5% to Rs 59.80 after the construction company said it secured new orders aggregating Rs 100 crore.

Suzlon Energy Limited gained 1.6% to Rs 51.00 after the wind power company concluded a contract for the delivery of 25 wind turbines with EverPower Wind Holdings Inc. with an option to purchase an additional 85 units.

SKS Microfinance Limited slumped 11.1% to Rs 661.90 after the non-banking finance company reports suggested that Andhra Pradesh state government has passed a law to regulate microfinance interest rates.

Tata Consultancy Services Limited surged 6% to Rs 1,140.40 after the information technology won a deal for implementing smart card based financial solution for a domestic bank.