India Movers: Airtel, Cipla, Essar, HUL, Reliance Capital, S Mobility

Mukesh Buch
21 Jun, 2013
New York City

Bharti Airtel market share held at 28.4% in May. Cipla received approval to acquire its South African unit for $512 million. Essar Steel raised $1 billion to repay the debt. Hindustan Lever launched its open offer to increase stake to 75%. Reliance Capital suspends gold sale.

[R]6:00 PM Mumbai – Bharti Airtel market share held at 28.4% in May. Cipla received approval to acquire its South African unit for $512 million. Essar Steel raised $1 billion to repay the debt. Hindustan Lever launched its open offer to increase stake to 75%. Reliance Capital suspends gold sale.[/R]

The Sensex Index gained 54.95 to close at 18,774.24 The CNX Nifty rose 11.75 to close at 5,667.65. For the week Sensex declined 2.1%.

Gainers & Losers

Bharti Airtel Limited jumped 1.4% to Rs 292.55 after the market share was ahead of Vodafone and Idea Cellular for the second consecutive months and at the end of May, recorded 189.65 million or 28.41% of the total market share.

Cipla Limited increased 0.6% to Rs 381.40 after the drug maker received approval to acquire Cipla Medpro from South African and Botswana for the $512 million.

Earlier this year, Cipla had offered 10 South African rand a share.

Essar Steel Ltd rose 0.5% to Rs 12.19 after the company raised today $1 billion or approx Rs. 5,970 crore through external commercial borrowings to repay the debt.

Hindustan Unilever Limited fell 0.4% to Rs 590.85 after the Anglo-Dutch Unilever Plc began its $5.4 billion offer to increase stake in its Indian unit to up to 75% will begin from tomorrow and close on July 4.

In a statement from London, the company said the offer price is fixed at Rs 600 a share but the company offers Rs 6 bonus a share.

Jaiprakash Associates Limited slipped 1.8% to Rs 57.65 after the subsidiary Jaypee Cement postponed the plans to sell its Gujarat cement unit. According to media reports, Aditya Birla Group is interested to buy the 4.8 metric tons cement plant for about Rs 4,000 crore.

LIC Housing Finance Limited rose 0.3% to Rs 257.95 after the company''s board cleared a proposal to apply for a banking licence.

Neyveli Lignite Corporation Limited gained 0.6% to Rs 58.05 after the ministry cleared today 5% stake sale of Indian government to raise Rs 700 crore.

Reliance Capital Ltd dropped 3.3% to Rs 319.75 after the company decided to suspend sale of gold to support the government objectives.

S Mobility Limited climbed 4.9% to Rs 38.55 after the company''s board approving buyback of shares at a maximum price of Rs 75 each.