India Movers: Adani Power, Gujarat Gas, Jet Airways, SKF India, Voltas

Mukesh Buch
22 Feb, 2013
New York City

Gujarat Gas fourth quarter net surged 182.4%. Hindustan Motors in talks with European sports utility vehicle makers. Etihad chairman said it needs to revise the deal with Jet Airways. SKF India net declined 20.2%. Voltas joined hands with Benninger AG for marketing and selling.

[R]6:00 PM Mumbai – Gujarat Gas fourth quarter net surged 182.4%. Hindustan Motors in talks with European sports utility vehicle makers. Etihad chairman said it needs to revise the deal with Jet Airways. SKF India net declined 20.2%. Voltas joined hands with Benninger AG for marketing and selling.[/R]

The Sensex Index inched lower 8.35 to close at 19,317.01 The CNX Nifty edged down 1.95 to close at 5,850.30. For the week, the BSE Sensex slid 0.8%.

Gainers & Losers

Adani Power Limited gained 0.5% to Rs 50.30 after the power sector regulator CERC is expected to decide on higher tariff for electricity generated for imported coal projects in Gujarat.

Exide Industries Limited dropped 2.7% to Rs 125.65 after fair trade regulator give green signal on proposal of fully acquisition of ING Vysya Life Insurance Company.

Gujarat Gas Company Limited rose 0.07% to Rs 290.30 after consolidated net profit in the fourth quarter surged 182.4% to Rs 70.60 crore.

Hindustan Motors Limited fell 0.5% to Rs 9.45 after the company said it is in talks with European sports utility vehicle makers to utilize the surplus capacity of its Chennai car plant.

Jet Airways (India) Limited plunged 5.8% to Rs 527.35 after Etihad Airways chairman said it needs to revise the deal to buy a stake in the Indian carrier.

Orissa Sponge Iron & Steel Limited slumped 3% to Rs 116.50 after the company reported net loss in the third quarter narrowed to Rs 17.31 crore from Rs 20.68 crore a year ago earlier.

SKF India Limited slipped 1.2% to Rs 544.90 after net profit in the fourth quarter declined 20.2% to Rs 32.19 crore.

Sun Pharmaceutical Industries Limited increased 1.9% to Rs 811.30 after Credit Sussie upped its price target from Rs 840 earlier to Rs 900.

The Federal Bank Limited gained 0.4% to Rs 496 after the bank reduced 0.25% in its base rate, or minimum rate of lending at 10.20%.

Voltas Limited slid 0.2% to Rs 87 after the joined hands with Swiss textile equipments maker Benninger AG to sell its equipment in India.

Shriram Transport Finance Company, Ltd advanced 2.2% to Rs 714.45 after the South African financial services group Sanlam agreed to buy 3.7% for 650 crore.

Websol Energy Systems Limited climbed 5% to Rs 9.24 after the company said net loss in the third quarter narrowed to Rs 7.26 crore compared to Rs 42.94 crore a year ago period.