India Movers: Essar Oil, Jain Irrigation, FAG Bearings, Thomas Cook

Mukesh Buch
18 Feb, 2011
New York City

Bank of Maharashtra soared 5% after Government of India decided to inject $70 million. FAG Bearings gained 3% after net profit increased 105%. Thomas Cook tumbled 8% after net declined 40%.

[R]4:40 PM Mumbai – Bank of Maharashtra soared 5% after Government of India decided to inject $70 million. FAG Bearings gained 3% after net profit increased 105%. Thomas Cook tumbled 8% after net declined 40%.[/R]

The BSE Sensex declined 1.6% or 295.30 to close at 18,211.52 The CNX Nifty on the National Stock Exchange decreased 87.50 to close at 5,458.95.

Gainers & Losers

Anant Raj Industries Limited tumbled 19.7% to Rs 75.90 on a heavy trading. Volume surged seventeen times daily average on no specific news.

Albert David Limited slumped 4.9% to Rs 119.55 after the pharmaceutical company said February 10 notification of Government of India on prohibition of Human Placental Extract and its formulations for human use may affect the business.

ACC Limited declined 1.5% to Rs 983.75 ahead of budget scheduled to be released at the end of the month.

ARSS Infrastructure Projects Limited slipped 1.4% to Rs 725.20.

Bank of Maharashtra soared 4.9% to Rs 59.65 after the public sector bank said the Government of India has decided to inject Rs 352 crore.

City Union Bank Limited gained 3.8% to Rs 45.75 after the private banking company opened a branch in Karim Nagar, Andhra Pradesh and Perundurai, Tamil Nadu.

Essar Oil Limited slumped 5.3% to Rs 106.45 after the energy and telecom group chief executive Prashant Ruia was questioned by telecom regulators and special investigation branch officials.

FAG Bearings India Ltd. gained 3.4% to Rs 867.00 after the bearings maker reported third quarter net profit increased 105.2% to Rs 33.75 crore and net sales increase 21.5% to Rs 262.66 crore.

IRB Infrastructure Developers Limited decreased 1.3% to Rs 181.40 after the holding company’s wholly owned subsidiary achieved financial closure of project in Karnataka.

Jain Irrigation Systems Limited plunged 8.1% to Rs 208.75 after the agri-business company fell on profit taking after stock rose 12% in the previous three sessions.

Marico Limited rose 0.4% to Rs 125.00 and the consumer goods maker is looking to restructuring its portfolio including divestment of some of brands.

Pratibha Industries Limited rose 0.4% to Rs 58.30 after the water transmission company secured two orders aggregating Rs 297 crore.

Thomas Cook (India) Limited tumbled 8% to Rs 48.85 after the travel and financial services company fourth quarter consolidated net profit declined 39.70% to Rs 1.52 crore and net sales rose 17.10% to Rs 66.70 crore.