India Movers: EIH Ltd, Claris Lifesciences, Hero Honda, Mundra Port

Mukesh Buch
20 Dec, 2010
New York City

EIH Limited received the regulatory approval for nearly $300 million rights issue. IDFC agreed to sell 25% stake to France based Natixis Asset Management. Tata Chemicals UK arm agreed to acquire UK based British Salt.

[R]6:00 PM Mumbai – EIH Limited received the regulatory approval for nearly $3 billion rights issue. IDFC agreed to sell 25% stake to France based Natixis Asset Management. Tata Chemicals UK arm agreed to acquire UK based British Salt.[/R]

The BSE Sensex rose 0.1% or 24.03 to close at 19,888.88. The CNX Nifty on the National Stock Exchange gained 1.70 to close at 5,947.05.

Gainers & Losers

A B G Infralogistics Limited surged 5.4% to Rs 153.80 after the crane service provider said its board will meet on December 22 to consider proposal to buyback maximum 10% of stocks and free reserves.

Astra Microwave Products Limited gained 3.2% to Rs 63.50 after the communication applications maker fixed December 31 as the record date for issue of bonus 1-to-2 shares.

Camlin Fine Chemicals Limited tumbled 7.2% to Rs 77.00 after the fine chemical manufacturer declined on profit taking after the stock surged on Friday.

Claris Lifesciences Ltd. in early traded of Rs 204 after the 10.13% discount to the initial public offer price of Rs 228.

Elecon Engineering Company Limited increased 1.6% to Rs 78.20 after the material handling equipment maker secured order worth Rs 43.25 crore from Energo Engineering Projects.

EIH Limited surged 5.8% to Rs 119.45 after the hotelier said the Securities and Exchange Board of India approved the company''s Rs 1,300 crore rights issue.

Four Soft Limited soared 8.9% to Rs 20.00 after the software company secured an order from Netherlands-based AFS Transport (Rotterfam) B.V.

Finolex Industries Limited rose 0.8% to Rs 94.15 after the PVC pipe maker said it plans to set up plant of rigid PVC pipes in Baroda district, Gujarat with annual capacity of 50,000 tonnes at an estimated cost of Rs 100 crore.

Hero Honda Motors Limited soared 17.9% to Rs 1,981.20 after the motorcycle maker said royalty payment to Japan''s Honda Motor will decline from January 2011.

Ispat Industries Limited surged 10.6% to Rs 24.95 after the reports JSW Steel and Jindal Steel & Power have emerged as strong contenders for acquiring the steel maker.

Infrastructure Development Finance Company Limited gained 2.1% to Rs 174.70 after the finance company agreed to sell 25% equity stake each in IDFC Asset Management Company and IDFC AMC Trustee Co to France based Natixis Global Asset Management.

LGS Global Limited advanced 4.9% to Rs 65.90 after the information technology developer secured project from Department of Food & Civil Supplies Uttar Pradesh for implementing bio-metric based e-ration card system.

Mundra Port and Special Economic Zone Limited decreased 2.6% to Rs 143.90 after the port operator received a notice from the environment ministry for violations of coastal regulations.

Oil and Natural Gas Corporation Limited declined 1.8% to Rs 1,304.95 after the oil explorer turned ex-dividend today after special interim dividend of Rs 32 for the year ending March 2011.

Parekh Aluminex Limited declined 2.2% to Rs 213.55 after the aluminum foil container maker signed memorandum of understanding with Uttar Pradesh state government to set up 250 megawatt thermal power plant.

TT Limited gained 3.8% to Rs 36.05 after the cotton and blended yarn maker secured order worth $10 million from a Chinese company for supply of textile products.

Tata Chemicals Limited rose 0.4% to Rs 372.85 after the chemical company''s overseas arm Brunner Mond, UK, signed binding agreement to acquire 100% stake in UK based British Salt.

Unity Infraprojects Limited increased 4% to Rs 88.00 after the construction company secured three orders aggregating Rs 200 crore.

Uniphos Enterprises gained 4.9% to Rs 38.90 after the chemical trader said its board will meet on December 23 to consider raising funds including a rights issue.