India Movers: Amtek Auto, GVK Power, Indiabulls, GMR

Mukesh Buch
11 Mar, 2013
New York City

Amtek Auto agreed to acquire German based NeumayerTek Group for $500 million. GVK Power signed partnership with Australia based Aurizon for two projects. Indiabulls merged with its housing finance company.

Amtek Auto Limited surged 5.7% to Rs 75 after the auto components maker agree to acquire NeumayerTek Group of Germany for approx $500 million.

GMR Infrastructure, Ltd increased 2.6% to Rs 19.95 after the company plans to sell its five-star hotel at Rajiv Gandhi International Airport for Rs 300 crore.

GVK Power & Infrastructure Limited rose 1% to Rs 11.26 after the company signed partnership with Australia based Aurizon for Galilee Basin rail and port project.

Indiabulls Financial Services Limited fell 0.5% to Rs 267.05 after the company merged with Indiabulls Housing Finance to focus on mortgage lending.

Kalpataru Power Transmission Limited fell 1% to Rs 86.25 and the company said it is looking for opportunity to acquire tower manufacturing plants in the US and Latin America.

Larsen & Toubro Limited gained 0.6% to Rs 1,505.80 and the World Bank barred the company from participating in any projects for six months.

Mahindra & Mahindra Limited gained 1.1% to Rs 912.30 after the company offered voluntary replacement of components of selected batch for XUV5OO.

Shyam Telecom Limited surged 18.4% to Rs 25.05 after the Russia based Sistema and the company were the lone bidder for eight circles in the 2G spectrum auction.

Wipro Limited dropped 1.3% to Rs 439.05 after the promoter groups Prazim Traders and Zash Traders acquired 7.43 crore shares of the company from Hasham Traders.