India Movers: CARE, DCM Shriram, ICRA, Pfizer, SKF India

Mukesh Buch
24 Feb, 2014
New York City

Anik Industries net jumped 9%. CARE declined after stakeholders rejected the sale bids. DCM Shriram board approves a stock buyback plan. ICRA surged after Moody''s offered to increase its stake to 55%. Pfizer climbed on restructuring plan. SKF India net surged 50%.

[R]6:00 PM Mumbai - Anik Industries net jumped 9%. CARE declined after stakeholders rejected the sale bids. DCM Shriram board approves a stock buyback plan. ICRA surged after Moody''s offered to increase its stake to 55%. Pfizer climbed on restructuring plan. SKF India net surged 50%.[/R]

The Sensex Index increased 110.69 or 0.5% to close at 20,811.44. The CNX Nifty rose 30.65 to close at 6,186.10.

Gainers & Losers

Anik Industries Ltd declined 4.8% to Rs 20.70 after net profit in the third-quarter jumped 9.1% to Rs 1.68 crore and revenue climbed 14.7% to Rs 335.42 crore.

Credit Analysis and Research Ltd plunged 8.2% to Rs 788.45 after the IDBI rejected the bids from the potential investors and said none of the bids were “acceptable.”

DCM Shriram Consolidated Ltd climbed 5.2% to Rs 71.40 after its board approved share buyback at a maximum price of Rs 90 per share, worth up to Rs 135 crore in the open market.

ICRA Limited surged 20% to Rs 1,913 after the U.S.-based promoter Moody''s made a conditional open offer to buy at least 2.15 million shares at Rs 2,000 per share to increase their stake in the company from 28.5% to 55%.

Pfizer Limited soared 9.4% to Rs 1,138.20 after the company announced its internal corporate restructuring plan.

Rolta India Limited rose 0.8% to Rs 74.55 after the company was awarded 3D City Modeling contract for $4 million from Middle-Eastern country.

SKF India Limited jumped 6.8% to Rs 700.10 after net profit in the fourth-quarter surged 50.3% to Rs 48.39 crore and net sales soared 15.2% to Rs 591.17 crore.

For the year, net profit declined 12.3% to Rs 166.72 crore and net sales rose 1.9% to Rs 2,246.44 crore.