India Movers: Bafna, Gammon, Kalpataru, L&T, Sun Pharma, Yes Bank

Mukesh Buch
26 Nov, 2013
New York City

Gammon India net loss widened. Kalpataru Power secured orders worth Rs 1,007 crore. L&T sell a minor stake in L&T Finance. Yes Bank jumped after Morgan Stanley Asia sold its stake.

[R]6:00 PM Mumbai – Gammon India net loss widened. Kalpataru Power secured orders worth Rs 1,007 crore. L&T sell a minor stake in L&T Finance. Yes Bank jumped after Morgan Stanley Asia sold its stake.[/R]

The Sensex Index slipped 180.06 or 0.9% to close at 20,425.02. The CNX Nifty dropped 56.25 to close at 6,059.10.

The Reserve Bank of India said it will sell $2.23 billion of bonds on November 29.

Gainers & Losers

Bank of India declined 4.8% to Rs 206.65 and Canara Bank Ltd plummeted 5.5% to Rs 232.85, the pharmaceutical company Wockhardt Limited dropped 4.1% to Rs 472 and Unitech Limited plunged 7.7% to Rs 15.65 after these are excluded from MSCI India index after the market close today.

Bafna Pharmaceuticals Limited closed unchanged at Rs 30.20 after the media report the U.S.-based generic drug maker Mylan and two Indian companies are in race to acquire hemoglobin drugs maker.

Gammon India Limited slumped 1.6% to Rs 13.10 after the company said net loss in the second-quarter widened to Rs 261.54 crore from Rs 39.44 crore a year ago period. Revenue in the quarter slipped 4% to Rs 1,045.58 crore.

Kalpataru Power Transmission Limited fell 0.8% to Rs 77.90 after the company secured new orders worth Rs 1,007 crore.

First order is of 500-kilovolt D/C over-head transmission line worth Rs 630 crore in Egypt.

Second order is to supply and install 220 kilovolts transmission system worth Rs 246 crore in Rwanda and D. R. Congo.

The third order is for installing a pipeline from Hindustan Petroleum Corporation valued at Rs 131 crore.

Larsen & Toubro Limited slid 0.04% to Rs 1,001.85 after the sold its stake of 0.06% or one crore shares in L&T Finance Holdings for Rs 7.68 crore. Following the transaction L&T has stake of 82.2% or 141.19 crore shares in L&T Finance.

Sun Pharmaceutical Industries Limited slipped 1.3% to Rs 573.30 after its U.S. subsidiary Taro Pharmaceutical Industries launched a tender offer to buy back up to $200 million of shared and increase its stake to 69% from 66%.

Yes Bank Limited jumped 2.9% to Rs 361.10 after the Morgan Stanley Asia (Singapore) Pte today sold more than 19 lacs shares at a price of Rs 349.51 a share totaling Rs 68.92 crore.