India Movers: Airtel, Elder Pharma, Godrej, ING Vysya, Reliance Capital

Mukesh Buch
26 Jun, 2013
New York City

Elder Pharma plans to sell its domestic formulations business. ING Vysya to raise $150 million through a qualified institutional placement. Tech Mahindra completed merger with Satyam Computer. Bharti Airtel faces $110 million of penalty from telecom regulatory authority.

[R]6:00 PM Mumbai – Elder Pharma plans to sell its domestic formulations business. ING Vysya to raise $150 million through a qualified institutional placement. Tech Mahindra completed merger with Satyam Computer. Bharti Airtel faces $110 million of penalty from telecom regulatory authority.[/R]

The Sensex Index gained 88.26 to close at 18,629.15 The CNX Nifty increased 18.85 to close at 5,609.10.

Gainers & Losers

Bharti Airtel Limited plunged 5.7% to Rs 278.45 after the department of telecom charged penalty of Rs 650 crore for violating roaming rules.

Dr. Reddy’s Laboratories Limited decreased 0.3% to Rs 2,093.15 and the company launched Lamotrigine extended release tablets in five strengths in the United States market on June 25.

Elder Pharmaceuticals Ltd soared 4.8% to Rs 310.35 after the promoters are looking the option of selling the domestic formulations business. Industry analysts speculated Sanofi, Novartis, Glaxo are likely to bid for the business.

Godrej Properties Limited decreased 1% to Rs 527.40 after the company plans to launch Rs 700 crore rights issue in September and use the proceeds to repay debt.

ING Vysya Bank Limited slid 0.2% to Rs 605.60 after the bank plans an offering of 1.43 crore shares at a price of Rs 624.5 to raise Rs 900 crore through a qualified institutional placement.

NTPC Limited increased 2.1% to Rs 141.20 after the company''s board showed a willingness to sign a fuel supply agreements with Coal India.

Tech Mahindra Limited gained 2.8% to Rs 1,037.85 after the company completed merger with Satyam Computer Services Ltd.

Reliance Capital Ltd climbed 2.1% to Rs 320.70 after the lender agreed to sell stakes of less than 5% in its consumer lending unit to two Japanese firms.