India Movers: DEN to Raise $160 million; Emami, GSK, Sintex Net Climb

Mukesh Buch
07 May, 2013
New York City

Allahabad Bank net plunged 68%. Dabur India expanded manufacturing in Sri Lanka and DEN Networks plans to raise nearly $160 million. Emami net climbed 39% and GSK net surged 38%. Maruti said vehicles production in April dropped 7.6%. Sintex net soared 66%.

[R]6:00 PM Mumbai – Allahabad Bank net plunged 68%. Dabur India expanded manufacturing in Sri Lanka and DEN Networks plans to raise nearly $160 million. Emami net climbed 39% and GSK net surged 38%. Maruti said vehicles production in April dropped 7.6%. Sintex net soared 66%.[/R]

The Sensex Index climbed 215.31 or 1.1% to close at 19,888.95 The CNX Nifty jumped 72.50 to close at 6,043.55.

Gainers & Losers

Allahabad Bank declined 4.8% to Rs 126.50 after net profit in the fourth quarter plunged 68.5% to Rs 126.15 crore.

The bank said net non-performing asset at the end of March, stood at 3.2% and provisions and contingencies rose 37% to Rs 622.49 crore.

Dabur India Limited climbed 2.5% to Rs 161.70 after the company invested $21 million on manufacturing facility for packaged fruit-based beverage in Sri Lanka.

In September 2011, Dabur Lanka was established.

Dabur’s food business reported 25% growth in fiscal 2012.

DEN Networks Limited dropped 2% to Rs 222.10 after the cable television services provider plans to raise nearly $160 million including $110 million from the Goldman Sachs through an institutional stock sale.

Emami Limited advanced 2.3%to Rs 680.10 after fourth quarter net profit climbed 38.9% to Rs 91.14 crore.

Electrosteel Steels Limited slipped 1.4% to Rs 4.82 after the company reported fourth quarter net loss widened to Rs 121.87 crore.

Fedders Lloyd Corporation Limited surged 7.1% to Rs 37.50 after net profit in the fourth quarter declined 25.7% to Rs 14.94 crore.

GlaxoSmithKline Pharmaceuticals Limited jumped 2.6% to Rs 2,378.45 after first quarter net profit surged 37.5% to Rs 169.01 crore and net sales rose 2% to Rs.632.14 crore.

Lanco Industries Limited surged 20% to Rs 24 after net profit in the fourth quarter rose 0.9% to Rs 14.13 crore.

The company has withdrawn the plan to set up mini-cement plant in Andhra Pradesh.

Maruti Suzuki India Limited slid 0.07% to Rs 1,691.85 after production dropped 7.6% to 1,05,000 vehicles in April.

Mahindra Holidays and Resorts India Limited fell 0.5% to Rs 254.55 after net profit in the fourth quarter declined 16.9% to Rs 30.93 crore.

Sintex Industries Limited climbed 4.9% to Rs 53.95 after consolidated net profit in the fourth quarter soared 66% to Rs 151 crore.

Amit Patel, managing director said, “Despite economic adversities across the globe, we grew our top-line by 15% and strengthened our balance sheet.”

Sharyans Resources Limited soared 8.9% to Rs 42.50 after fourth quarter net profit plunged 33.9% to Rs 1.09 crore.

Stovec Industries Limited tumbled 9% to Rs 332 after net profit in the fourth quarter surged 89.8% to Rs 2.05 crore.