India Movers: ACC, Alstom, Airtel, HCL, Magma Fincorp, Sobha Developers

Mukesh Buch
04 Jul, 2013
New York City

Switzerland based Holcim plans to merge its ACC and Ambuja Cements. Airtel agreed to buy stake in Qualcomm''s 4G broadband project.The central government sold its 4% stake in HCL. Sobha Developers first quarter sales climbed 10%.

[R]6:00 PM Mumbai – Switzerland based Holcim plans to merge its ACC and Ambuja Cements. Airtel agreed to buy stake in Qualcomm''s 4G broadband project.The central government sold its 4% stake in HCL. Sobha Developers first quarter sales climbed 10%.[/R]

The Sensex Index declined 286.06 or 1.5% to close at 19,177.76 The CNX Nifty dropped 86.65 to close at 5,770.90.

Gainers & Losers

Ambuja Cements Ltd increased 0.8% to Rs 189.75 after the Switzerland based Holcim Ltd plans to restructure of Indian operations including merger of ACC and Ambuja Cements.

Alstom India Ltd rose 1.4% to Rs 339.60 after the company secured contract from Bhel to supply components and services for super thermal power project in Rajasthan.

Bharti Airtel Limited gained 2.4% to Rs 301.25 after the company agreed to buy 49% stake in Qualcomm''s India 4G broadband project.

The company also subscribes an additional 2% equity share capital in all the four India BWA entities of Qualcomm AP.

Hindustan Copper Limited dropped 3.3% to Rs 68.10 after the government sold 4.01% stake today through offer for sale by stock exchange mechanism.

Magma Fincorp, Ltd slipped 2.3% to Rs 90.70 after the company plans to increase disbursement of retail loans by 2% in Rajasthan during the year.

Piramal Enterprises Limited fell 0.1% to Rs 576.05 after the company agreed to purchase 10% stake of Shriram Capital.

Sobha Developers Limited gained 2.4% to Rs 343.35 after the company said in the first quarter ending in June new sales climbed 10.2% to 0.92 million square feet.

United Spirits Limited grew 1.7% to Rs 2,556.25 after the UK based Diageo plc increased its stake to over 27%.