India Movers: ABB India, Bharti Airtel, Castrol, GSK, Gujarat Pipavav

Mukesh Buch
18 Feb, 2014
New York City

ABB India net and revenue climbed. Bharti Airtel agreed to acquire Loop Mobile for Rs 300 crore. Castrol India profit and sales jumped 7%. GSK Pharma profit declined 16%. Gujarat Pipavav net surged 114% and revenue soared 22%.

[R]6:00 PM Mumbai - ABB India net and revenue climbed. Bharti Airtel agreed to acquire Loop Mobile for Rs 300 crore. Castrol India profit and sales jumped 7%. GSK Pharma profit declined 16%. Gujarat Pipavav net surged 114% and revenue soared 22%.[/R]

The Sensex Index jumped 170.15 or 0.8% to close at 20,634.21. The CNX Nifty gained 53.80 to close at 6,127.10.

Gainers & Losers

ABB India Ltd soared 12.8% to Rs 666.65 after net profit in the fourth-quarter climbed 249.4% to Rs 58.59 crore and total revenue jumped 5.7% to Rs 2,204.56 crore.

For the quarter, the company received orders worth Rs 1,666 crore, an increase of 5.51% a year ago period.

Bharti Airtel Limited fell 0.9% to Rs 302.20 after the company agreed to acquire mobile operator Loop Mobile which operates only in Mumbai with about 30 lakh or 3 million subscribers for about Rs 300 crore.

Castrol India Limited slid 0.2% to Rs 296.60 after net profit in the fourth-quarter grew 7.04% to Rs 126.20 crore and total revenues increased 7.8% to Rs 836.60 crore.

Force Motors Ltd climbed 15.1% to Rs 353.30 after the company’ promoters raised stake to 56.54% from 51.75%.

GlaxoSmithKline Pharmaceuticals Limited rose 0.1% to Rs 3,016.95 after net profit in the fourth-quarter declined 15.6% to Rs 116.88 crore and sales dropped 2.7% to Rs 685.04 crore.

Today, the company said its U.K. based parent GlaxoSmithKline Plc plans to invest Rs 6,390 crore to raise stake to 75% from current stake of 50.67%.

GlaxoSmithKline Plc plans to acquire up to 2.06 crore shares of GSK Pharma at Rs3,100 per share, representing a premium of 26%. The open offer begins February 18 and will close March 5.

Gujarat Pipavav Port Ltd surged 11.1% to Rs 70.95 after net profit in the third-quarter soared 114% to Rs 77.10 crore and revenue climbed 22% to Rs 145.20 crore.