India Movers: Bharti Airtel, Coal India, JSW, McNally, Maruti, Tata

Mukesh Buch
09 Dec, 2013
New York City

Bharti Airtel signed partnership with Punjab to expand high speed 4G LTE wireless services. Coal India is reviewing five proposals for mine acquisition in Indonesia. JSW plan to bid for Indian assets of U.K.-based Stemcor. Maruti and Tata plan to increase the prices from January.

[R]6:00 PM Mumbai – Bharti Airtel signed partnership with Punjab to expand high speed 4G LTE wireless services. Coal India is reviewing five proposals for mine acquisition in Indonesia. JSW plan to bid for Indian assets of U.K.-based Stemcor. Maruti and Tata plan to increase the prices from January.[/R]

The Sensex Index jumped 329.89 or 1.57% to close at 21,326.42. The CNX Nifty increased 104 or 1.7% to close at 6,363.90.

Gainers & Losers

Accel Frontline Limited surged 4.9% to Rs 35.50 after the company said that Japan based CAC Corporation plans to acquire majority stake in the company.

Bharti Airtel Limited gained 1.4% to Rs 336.70 after the company signed partnership with Government of Punjab to expand high speed 4G LTE services across the state.

Coal India Limited rose 0.3% to Rs 290.40 after the overseas expansion strategy; the company is looking for as much as five proposals for acquisition of mines in Indonesia.

Glenmark Pharmaceuticals Limited added 1.3% to Rs 532 after the company’s U.S.-based subsidiary launched Hydrocortisone Butyrate cream in the United States.

The company received approval from the United States Food and Drug Administration for its generic version.

JSW Steel Limited rose 0.3% to Rs 930.40 after the company reported 28% increase in crude steel production in November on a pro forma basis to 10.72 lacs tons from a year ago month.

JSW Group headed by Sajjan Jindal, has decided to bid for Indian assets of U.K.-based steel trader Stemcor Holdings Limited valued between $1 billion and $1.5 billion.

McNally Bharat Engineering Company Limited climbed 2% to Rs 60 after the company won order worth Rs 209.84 crore from a thermal power producer for operation and maintenance of coal plant.

Maruti Suzuki India Ltd jumped 3.8% to Rs 1,763.45 after the auto-maker plans to increase automobile prices from January 2014 and pass on higher material costs.

Tata Motors Limited gained 0.4% to Rs 392.75 after the automotive company plans to increase the prices of its passenger vehicles by about 1% from the next month.