India Movers: Alstom, Berger, M&M, Reliance, RPower, Ranbaxy, Torrent

Mukesh Buch
13 Dec, 2013
New York City

M&M raised its vehicles prices as much as 2% from January. Reliance and BP plan to invest between $5 billion and $10 billion for natural gas exploration. Torrent Pharma agreed to acquire drug distribution business from Elder Pharma for Rs 2,000 crore.

[R]6:00 PM Mumbai – M&M raised its vehicles prices as much as 2% from January. Reliance and BP plan to invest between $5 billion and $10 billion for natural gas exploration. Torrent Pharma agreed to acquire drug distribution business from Elder Pharma for Rs 2,000 crore.[/R]

The Sensex Index declined 210.03 or 1% to close at 20,715.58. The CNX Nifty dropped 68.65 to close at 6,168.40. For the week, Sensex slipped 1.3%.

Gainers & Losers

Alstom T&D India Limited increased 0.3% to Rs 177.65 after the company plans for about Rs 15,000 crore of new business opportunities in the power transmission and distribution segments.

Berger Paints India Ltd rose a fraction to Rs 228.75 and a foreign promoter bought 0.1% stake in the paint maker.

Mahindra & Mahindra Limited gained 0.6% to Rs 948.10 and the company said it will raise prices of its passenger and commercial vehicles as much as 2% from January.

Reliance Industries Limited slid 0.8% to Rs 863.35 and the company and BP Plc plan to invest between $5 billion and $10 billion to quadruple natural gas production by 2020.

At present the company produces about 11.8 million standard cubic meters per day of gas from the flagging eastern offshore.

Reliance Power Limited dropped 2.3% to Rs 71.15 and the company commissioned the electricity generation from the second 660 megawatt unit of its Sasan power project in Madhya Pradesh.

Ranbaxy Laboratories Limited slipped 1.3% to Rs 424.25 and the Japanese promoter Daiichi Sankyo Company confirmed no intention to de-listing of shares.

Torrent Pharmaceuticals Ltd declined 4% to Rs 479.50 after the company agreed to acquire Elder Pharmaceuticals'' branded domestic formulations business in India and Nepal for Rs 2,000 crore.

Shares of Elder Pharmaceuticals Ltd plunged 8.2% to Rs 298.30.