India Movers: Apollo Tyres, Alstom, HDFC, IRB Infra, JSW Steel, Zee

Mukesh Buch
17 Dec, 2013
New York City

Apollo Tyres won an appeal against Cooper Tire merger proposal. Alstom signed an agreement to sell the property in Bengaluru for Rs 120 crore. HDFC Bank declined after RBI restricted additional foreign investor stake. IRB Infra was selected as a preferred bidder in road project.

[R]6:00 PM Mumbai – Apollo Tyres won an appeal against Cooper Tire merger proposal. Alstom signed an agreement to sell the property in Bengaluru for Rs 120 crore. HDFC Bank declined after RBI restricted additional foreign investor stake. IRB Infra was selected as a preferred bidder in road project.[/R]

The Sensex Index slipped 47.38 to close at 20,612.14 and the CNX Nifty fell 15.65 to close at 6,139.05.

Gainers & Losers

Apollo Tyres Ltd climbed 2.3% to Rs 86.70 after the U.S. court dismissed Cooper Tire & Rubber Co.''s appeal to force the Indian tire-maker to complete their proposed merger.

Alstom T&D India Limited jumped 2.3% to Rs 182.40 and the company agreed to sell a property in Bengaluru with an Indian business group for Rs 120 crore.

Coal India Limited dropped 2.9% to Rs 278.60 after the company raised the prices by 10% of non-coking coal and estimated Rs 140 crore additional revenue this year.

The company board also postponed a decision to pay special dividend.

HDFC Bank Limited declined 3.6% to Rs 658.45 after the Reserve Bank of India restricted foreign institutional investors from buying additional shares in the private-sector bank.

IRB Infrastructure Developers Ltd rose 1% to Rs 89.25 and the company was selected as the preferred bidder for Rs. 1,500 crore road projects in Maharashtra.

Infosys Limited rose 0.1% to Rs 3,452 and the company won a contract from FESCO to develop a human resource services platform for the Chinese staffing firm.

JSW Steel Limited increased 1.2% to Rs 925.05 and the Competition Commission of India approved the acquisition for cement grinding facility of HeidelbergCement at Raigad, Maharashtra.

Zee Entertainment Enterprises Limited gained 1.3% to Rs 285.35 and the board approved the scheme of arrangement with Diligent Media Corporation.