India Movers: Dishman, Exide, GMR Infra, GVK Power, NMDC, Tata

Mukesh Buch
13 Jan, 2014
New York City

Dishman Pharma plans to sell its China plant. Exide net declined 26% and revenue plunged 11%.GMR Infra expects revenue to grow modestly. GVK Power plans to sell stake in its airport business. NMDC said third-quarter production and sales rose. Tata Steel sales jumped 9%.

[R]6:00 PM Mumbai – Dishman Pharma plans to sell its China plant. Exide net declined 26% and revenue plunged 11%.GMR Infra expects revenue to grow modestly. GVK Power plans to sell stake in its airport business. NMDC said third-quarter production and sales rose. Tata Steel sales jumped 9%.[/R]

The Sensex Index climbed 375.72 or 1.8% to close at 21,134.21. The CNX Nifty jumped 101.30 to close at 6,272.75.

Gainers & Losers

Dishman Pharmaceuticals & Chemicals Ltd rose 1.3% to Rs 104.55 and the company plans to sell its China plant to reduce debt and expects to get minimum of $25 million.

Exide Industries Limited declined 6.2% to Rs 105.10 after net profit in the third-quarter declined 25.5% to Rs 77.52 crore and total revenue plunged 11.28% to Rs 1,308.85 crore.

GMR Infrastructure Ltd grew 1.8% to Rs 22.25 and expects revenue in the third-quarter to grow modestly.

GVK Power and Infrastructure Ltd climbed 4.7% to Rs 10.71 after the company plans to sell stake in its airport business in the next few months to reduce the debt.

The company recently completed expansion of Mumbai international airport that will increase the annual passenger handling capacity by a third to 40 million passengers.

The company operates Mumbai and Bengalaru airports.

NMDC Limited gained 1.4% to Rs 141.10 and the total iron ore production and shipments in the third-quarter jumped from a year ago period.

Nitin Spinners Limited increased 1.6% to Rs 15.80 after the company received term loan of Rs 200 crore from the banks for a project with a total cost of Rs 286 crore.

Pennar Industries Ltd soared 5.7% to Rs 23.20 after its subsidiaries secured orders worth Rs 70 crore.

Rushil Decor Ltd jumped 3.1% to Rs 55.20 after the board approved the procedures for sale or lease of a land parcel in Gujarat.

Tata Steel Limited rose 0.5% to Rs 386.15 after third-quarter sales jumped 9.4% to 2.06 million tons.