India Movers: Glenmark, ICICI Bank, Ispat, Mahindra Satyam

Mukesh Buch
21 Dec, 2010
New York City

Bajaj Hindusthan agreed to set up 1,980 megawatt power project at Bargarh. Mahindra Satyam plan to list the company stock in New York. NMDC third quarter advance tax payment surged 246%. Sun Pharmaceutical sued by Swiss drug maker Hoffman-La Roche in the U.S. for alleged patent infringement.

[R]6:00 PM Mumbai – Bajaj Hindusthan agreed to set up 1,980 megawatt power project at Bargarh. Mahindra Satyam plan to list the company stock in New York. NMDC third quarter advance tax payment surged 246%. Sun Pharmaceutical sued by Swiss drug maker Hoffman-La Roche in the U.S. for alleged patent infringement.[/R]

The BSE Sensex gained 0.8% or 171.44 to close at 20,060.32. The CNX Nifty on the National Stock Exchange increased 53.60 to close at 6,000.65.

Gainers & Losers

APL Apollo Tubes Limited soared 4.5% to Rs 140.00 after DSP Blackrock Mutual Fund bought 900,000 shares or 4.43% equity of the company at Rs 132 a share via bulk deal on December 20.

Bajaj Hindusthan Ltd. rose 0.2% to Rs 110.00 after the sugar, distillery and power a consortium signed pact with the state government of Uttar Pradesh for setting up 1,980 megawatt power project at Bargarh.

Bharti Airtel Limited fell 0.3% to Rs 333.80 after the telecommunication reports the government will move to stop telecom companies from offering non-voice 3G mobile services in seven days unless they demonstrate that these facilities can be tapped live.

Glenmark Pharmaceuticals Limited surged 4.6% to Rs 359.00 after the pharmaceutical company’s overseas unit got final approval from the U.S. drug regulator to market Felodipine.

ICICI Bank Limited gained 3.5% to Rs 1,138.55 after the financial service provider paid third quarter advance tax payment of Rs 450 crore, an increase of 49.5% from a year ago.

Ispat Industries Limited tumbled 5.9% to Rs 21.20 after the importer of steel and textiles’ board approved preferential allotment of shares to JSW Steel at Rs 19.85 per share at discount of 20.4%

India Infoline Ltd. surged 7% to Rs 81.80 after the financial services company said its board will meet on December 23 to consider proposal for buyback of its own shares.

KEC International Limited rose 0.9% to Rs 439.25 after the engineering contractor fixed December 31 as the record date for a 5-for-1 stock split.

Lanco Infratech Limited rose 0.6% to Rs 62.50 after the infrastructure developer achieved financial closure for a thermal power project in Maharashtra.

Mahindra Satyam Computer Services Limited soared 8.8% to Rs 69.05 after the information technology reports the company is planning to re-list its shares on the New York Stock Exchange.

Maruti Suzuki India Limited rose 1% to Rs 1,428.95 after the passenger car maker reports the company will launch its first luxury car named Kizashi on January 28.

NMDC Limited increased 2.6% to Rs 263.30 after the iron ore producer said third quarter advance tax payment surged 246.2% to Rs 900 crore from a year ago.

National Aluminium Company Limited increased 1.4% to Rs 382.35 after the company paid third quarter advance tax payment Rs 187 crore, an increase of 180% from a year ago.

Sumeet Industries Limited advanced 2% to Rs 24.90 after the polyester chip and filament yarn maker said board will meet on December 22 to consider issue of equity shares on rights basis.

Sun Pharmaceutical Industries Ltd. declined 3.2% to Rs 428.35 after its international unit was sued by Swiss drug maker Hoffman-La Roche and Warner Chilcott Co in the US for alleged patent infringement.

Subex Limited gained 2.8% to Rs 75.50 after the telecom software maker secured an overseas order worth $3 million for one of its software products.

Texmaco Limited gained 3.8% to Rs 49.15 after the railway freight car provider signed agreement with Australia based UGL Rail Services to manufacture and supply rail components.