India Movers: Alstom, Adani, AIA Engineering, DLF, Power Grid, Power Grid

Mukesh Buch
19 Dec, 2013
New York City

BHEL awarded Alstom India a contract worth

[R]6:00 PM Mumbai – BHEL awarded Alstom India a contract worth €125 million. Adani Ports completed port project worth Rs 400 crore and eight months ahead of schedule. AIA Engineering plans to double production capacity. DLF sold its insurance business to Dewan Housing.[/R]

The Sensex Index slipped 151.24 or 0.7% to close at 20,708.62. The CNX Nifty fell 50.50 to close at 6,166.65.

Gainers & Losers

Alstom India Ltd jumped 2.1% to Rs 372.50 and secured contract worth €125 million from BHEL to supply components and services for its two new thermal power project at Neyveli in Tamil Nadu.

Adani Ports & Special Economic Zone Ltd soared 5.6% to Rs 167.10 and the company completed its steam coal import terminal at Visakhapatnam port valued Rs 400 crore and eight month ahead of schedule.

AIA Engineering Ltd jumped 2.7% to Rs 476.35 and plans to double production capacity to 4,40,000 tons by 2015.

DLF Limited slipped 1% to Rs 158.65 after the realty developer completed sale of its 74% stake in the joint venture DLF Pramerica Life Insurance to Dewan Housing Finance between Rs 250 crore to 300 crore.

Meghmani Organics Limited gained 1.4% to Rs 7.45 and the company installed and commissioned its pigment manufacturing plant at Dahej SEZ near Bharuch.

Power Grid Corporation of India Limited fell 0.8% to Rs 99.25 and said it will use the proceeds of Rs 5,400 crore through an offering in 27 transmission projects.

Sobha Developers Ltd rose 0.6% to Rs 302 and signed an agreement with Lakshmi Machine Works for construction of residential apartments in Coimbatore.

Wockhardt Limited surged 9.6% to Rs 417.25 after the pharmaceutical and biotechnology group plans to list on Berne Stock Exchange in Switzerland.

Wockhardt sold its 5% stake from initial public offering of its European unit to raise 11.86 million francs or $13.37 million.