India Movers: Airtel, DLF, Jyoti Structures, Maruti, RCom

Mukesh Buch
08 Jul, 2013
New York City

Airtel used the 5% stake proceeds of $1.1 billion to repay debt. Jyoti Structures secured export orders worth $200 million. Maruti Suzuki June production declined 25%. RCom plans to spin-off its real estate assets.

[R]6:00 PM Mumbai – Airtel used the 5% stake proceeds of $1.1 billion to repay debt. Jyoti Structures secured export orders worth $200 million. Maruti Suzuki June production declined 25%. RCom plans to spin-off its real estate assets.[/R]

The Sensex Index slipped 171.05 or 0.9% to close at 19,324.77 The CNX Nifty fell 56.35 to close at 5,811.55.

Gainers & Losers

Ashok Leyland Limited rose 0.8% to Rs 18.65 after the company secured an order from the Institute of Road Transport, Tamil Nadu for the supply of 2,610 buses.

Bharti Airtel Limited slid 0.7% to Rs 293.45 after the company repaid Rs. 6,796 crore of debt from the proceeds of a 5% stake sale to Qatar Foundation Endowment.

In June, the company issued 199.87 million new shares that represents 5% stake in the company to Qatar Foundation Endowment for Rs 6,796 crore.

DLF Limited slumped 1.4% to Rs 175.25 after the realty company completed the sale of 150 mega watt wind turbine project to Bharat Light and Power, in Gujarat for Rs 325 crore.

Gillette India Limited increased 1.1% to Rs 2,258.95 after the market regulator imposed penalty on promoters for the failure to meet minimum public shareholding requirements.

The promoters own nearly 89% of the companies shares including 75.9% stake held by Procter & Gamble Co.

Jyoti Structures Limited gained 1.7% to Rs 20.85 after the company secured export orders worth Rs 1200 crore to supply 36,000 metric tons of engineering towers.

Maruti Suzuki India Limited slipped 0.2% to Rs 1,551.65 after the company said June production declined 25.4% to 61,668 units.

Neyveli Lignite Corporation Limited fell 0.5% to Rs 58 after the Securities & Exchange Board of India approved Tamil Nadu state government to buy 5% stake in the company.

Reliance Communications Limited surged 7.2% to Rs 145.35 after the company plans to spin-off its real estate assets into Reliance Properties Ltd.

The new entity will be listed and existing shareholders of RCom will receive shares in new entity on a pro-rata basis, a statement issued by Reliance Communications Ltd on Yesterday.

Yes Bank Limited rose 0.6% to Rs 467.70 and the company plans to sell up to 4.99% stake sale to private equity investors to raise nearly $300 million.