India Movers: A2Z, Pipavav, Sun Pharma, Steel Authority

Mukesh Buch
23 Dec, 2010
New York City

A2Z Maintenance dropped 16% from its IPO price on the first day of trading. Pipavav Shipyard signed an agreement with Sweden-based SAAB Dynamics AB. Suven Life Sciences secured four patents. SAIL upcoming secondary offering may be priced as 12% discount.

[R]6:00 PM Mumbai – A2Z Maintenance dropped 16% from its IPO price on the first day of trading. Pipavav Shipyard signed an agreement with Sweden-based SAAB Dynamics AB. Suven Life Sciences secured four patents. SAIL upcoming secondary offering may be priced as 12% discount.[/R]

The BSE Sensex fell 0.1% or 32.92 to close at 19,982.88 The CNX Nifty on the National Stock Exchange decreased 4.40 to close at 5,980.00.

Gainers & Losers

A2Z Maintenance & Engineering Services Ltd. dropped 15.6% to close at Rs 328.90 after it priced the initial public offering at Rs 400.

Aster Silicates Limited rose 0.9% to Rs 33.50 after the chemical company said it commenced first phase commercial production of sodium silicate at Bharuch with a capacity of 150 tons per day.

A B G Infralogistics Limited surged 17.9% to Rs 191.95 after the crane service provider’s board of directors approved buyback of up to 875,000 equity shares at Rs 244.50 per share.

Falcon Tyres Limited declined 2.7% to Rs 120.00 after the tire maker turned ex-dividend of Rs 2.50 per share for the year ended September 2010.

GSS America Infotech Limited slumped 4.9% to Rs 181.85 after the software developer surged more than 21% in a five-day rally.

Glenmark Pharmaceuticals Limited decreased 1.6% to Rs 351.70 after the pharmaceutical company’s U.S. unit received a final approval from the U.S Food & Drug Administration for three Abbreviated New Drug Applications.

India Infoline Ltd. advanced 1.1% to Rs 83.25 after 1.44% equity changed hands in a bulk deal on December 23.

J. Kumar Infraprojects Limited gained 2.5% to Rs 185.00 after the construction company extended its rally for the fourth day after secured work orders aggregating Rs 36.85 crore.

Pipavav Shipyard Limited increased 1.3% to Rs 79.05 after the ship builder company signed memorandum of understanding with Sweden-based SAAB Dynamics AB, to enter into army and air force segments.

PTC India Limited rose 0.9% to Rs 125.10 after the power and coal trading company’s subsidiary filed draft prospectus with Securities & Exchange Board of India for initial public offer on December 22.

Radico Khaitan Limited advanced 2.2% to Rs 159.55 after the liquor company is in advanced talks for marketing deal with three overseas companies.

Selan Exploration Technology Limited gained 2.6% to Rs 413.70 after the crude oil and natural gas producer fixed January 3 as the record date for issue of bonus 1-to-10 shares.

Steel Authority of India Limited tumbled 4.3% to Rs 186.45 after the steel maker reports the company''s upcoming offering may be priced close to Rs 165 per share at 11.6% discount.

Sintex Industries Limited soared 5.5% to Rs 179.60 after the water tank maker rebounded from a recent price declines.

Suven Life Sciences Limited increased 2% to Rs 24.45 after the drug and fine chemical maker company secured four products patents two each in New Zealand and in Eurasia for a new chemical entity.

Sun Pharmaceutical Industries Ltd. surged 4.9% to Rs 453.25 after the US Court of Appeals for the Federal Circuit ruled in favor of the firm in a case involving the cancer drug Eloxatin.

Uniphos Enterprises gained 4.9% to Rs 40.65 after the chemical trader said company''s board approved issue of equity shares on rights basis for amount not exceeding Rs 75 crore.