India Movers: Geometric, NMDC, Tata Motors, Zodiac

Mukesh Buch
03 Jan, 2013
New York City

Indian Overseas Bank approved equity rights issue. Manappuram Finance surged on the expectations that the Reserve Bank may increase loan-to-value ratio on gold loans to 75%. Ramky Infrastructure arranged debt syndication.

[R]6:00 PM Mumbai – Indian Overseas Bank approved equity rights issue. Manappuram Finance surged on the expectations that the Reserve Bank may increase loan-to-value ratio on gold loans to 75%. Ramky Infrastructure arranged debt syndication.[/R]

The Sensex Index gained 50.54 or 0.3% to close at 19,764.78 The CNX Nifty increased 16.25 to close at 6,009.50.

Gainers & Losers

Aurobindo Pharma Limited added 0.2% to Rs 202.60 after the pharmaceutical company secured final approval from United States Food and Drug Administration to manufacture and market Rizatriptan Benzoate Tablets in 2 strengths in United States

Bajaj Auto Limited increased 0.5% to Rs 2,213.95 after the automobile company said total vehicle sales climbed 13% to 3,43,000 units in December 2012 from a year ago month.

Cairn India Limited jumped 2.3% to Rs 327.55 after the oil and explorer as US crude oil futures surged to 3-month high on January 2.

Geometric Limited advanced 2.5% to Rs 103.20 after the engineering solution provider announced that its German subsidiary has acquired 100% stake in 3Cap Technologies GmbH for 11 million euros.

Hero MotoCorp, Ltd. slid 0.8% to Rs 1,887.60 after the motorcycle manufacturer reported total sales in December increased 8% from November to 5,41,000 units.

Indian Overseas Bank added 0.8% to Rs 92.50 after the bank''s board of directors approved equity rights issue of 20 crore fully convertible preference shares with face value of Rs 10 each.

KEC International Limited climbed 1.8% to Rs 72.65 after the engineering company secured new orders for Rs 1,511 crore in its transmission, power systems, and cable businesses from India, Oman, Nepal and Americas.

Manappuram Finance, Ltd. surged 19.9% to Rs 40.55 after the finance and leasing service provider gained after Reserve Bank of India to proposed increasing the loan-to-value ratio on gold loans to 75% from the current 60%.

Muthoot Finance Limited climbed 10..2% to Rs 230 after the non-banking finance company stock led the gainers in the Bombay Stock Exchange’s ‘A’ group.

NMDC Limited dropped 3.1% to Rs 162.55 after the iron ore producer cut prices of iron ore lumps by 5.9% for January 2013.

Ramky Infrastructure Limited jumped 11.5% to Rs 124.85 after the developer achieved arranged debt syndication of Rs 1,225 crore to execute Agra Etawah road project in Uttar Pradesh.

Reliance Industries Limited increased 1.5% to Rs 860.55 after Rangarajan Committee suggested significant changes in gas pricing.

State Bank of India gained 0.9% to Rs 2,470.95 after the financial service provider said government has approved Rs 3,004 crore capital infusion into bank.

Tata Motors Limited down 0.05% to Rs 317.80 after the automaker said total sales of commercial and passenger vehicles declined 20.3% to 65,582 units in December 2012 compared to month a year ago.

Zodiac Clothing Company Limited surged 20% to Rs 224.40 after the clothing accessories maker trading volume jumped soared to 26,84,000 shares and the stock was locked at 20% upper daily limit at Rs 224.40.