India Movers: Reliance Signs $1 Billion Contract with Ericsson

Mukesh Buch
11 Feb, 2013
New York City

Emami net jumped 22% and GMR Infrastructure loss widened. Gujarat Petronet slipped 5.7% and GIPCL net surged more than three-fold. Jaypee Infratech net plunged 60%. RCom signed network contract with Ericsson for $1 billion. Sun Pharm withdraws the merger agreement.

[R]6:00 PM Mumbai –Emami net jumped 22% and GMR Infrastructure loss widened. Gujarat Petronet slipped 5.7% and GIPCL net surged more than three-fold. Jaypee Infratech net plunged 60%. RCom signed network contract with Ericsson for $1 billion. Sun Pharm withdraws the merger agreement.[/R]

The Sensex Index decreased 24.20 to close at 19,460.57 The CNX Nifty slid 5.65 to close at 5,897.85.

Gainers & Losers

Amrutanjan Health Care Limited slid 0.7% to Rs 142 after net profit in the third quarter declined 22% to Rs 3.37 crore.

BEML Limited slumped 3.3% to Rs 253.50 after the company reported net loss in the third quarter swung to Rs 63.34 crore compared to net profit of Rs 40.07 crore a year earlier.

Emami Limited climbed 3.8% to Rs 596.75 after consolidated net profit in the third quarter jumped 21.6% to Rs 114.95 crore.

GMR Infrastructure, Ltd declined 2.4% to Rs 18.50 after the company reported third quarter consolidated net loss widened to Rs 217 crore compared to Rs 108 crore a year ago period.

Gujarat State Petronet Limited dropped 2.1% to Rs 68.45 after net profit in the third quarter slipped 5.7% to Rs 119 crore.

Gujarat Industries Power Company Limited jumped 3% to Rs 70.05 after net profit in the third quarter surged more than three-fold to Rs 69.92 crore.

Jaypee Infratech Limited rose 0.1% to Rs 45.95 after net profit in the third quarter plunged 60.4% to Rs 155.06 crore.

Lloyds Metals & Energy Limited slipped 1% to Rs 13.80 after the engineering company reported net loss in the third quarter widened to Rs 6.26 crore compared to Rs 3.94 crore.

Manugraph India Limited gained 0.9% to Rs 40.40 after net profit in the third quarter declined 55.9% to Rs 3.88 crore.

NCC Limited rose 0.2% to Rs 41 after the company reported consolidated net profit in the third quarter swung to Rs 12.39 crore compared to consolidated net loss of Rs 10.32 crore.

Piramal Enterprises Limited increased 1.1% to Rs 555 after consolidated net profit in the third quarter surged more than six-fold to Rs 61.07 crore.

Reliance Communications Limited slid 0.3% to Rs 75 after the company signed network contract with Ericsson valued $1 billion for eight years.

Sun Pharmaceutical Industries Limited rose 0.6% to Rs 748.85 and the pharmaceutical maker terminated the merger agreement with Taro Pharmaceutical Industries.

Tata Power Company Limited gained 0.5% to Rs 97.60 afte third quarter consolidated net loss swung to Rs 328.92 crore from net profit of Rs 297.95 crore a year ago period.