India Movers: Ashok Leyland, Bharti Airtel, GMR, HCC, IVRCL

Mukesh Buch
04 Mar, 2014
New York City

Ashok Leyland February sales declined 21%. Bharti Airtel seek to acquire telecom licences and subscribers of Essar Telecom Kenya for $100 million. GMR won rail line projects worth Rs 267 crore in Uttar Pradesh. HCC secured Rs 903 crore order from Karnataka.

[R]6:00 PM Mumbai – Ashok Leyland February sales declined 21%. Bharti Airtel seek to acquire telecom licences and subscribers of Essar Telecom Kenya for $100 million. GMR won rail line projects worth Rs 267 crore in Uttar Pradesh. HCC secured Rs 903 crore order from Karnataka.[/R]

The Sensex Index jumped 263.08 or 1.3% to close at 21,209.73. The CNX Nifty increased 76.50 to close at 6,297.95.

Gainers & Losers

Ashok Leyland Limited rose 0.3% to Rs 15.60 after the company said total vehicle sales in February declined 21% to 7,915 units.

Bharti Airtel Limited rose 0.4% to Rs 287.60 after the company said its Kenya unit sought regulatory approval to acquire telecom licences and subscribers of Essar Telecom Kenya Ltd. The deal is estimated at $100 million.

Dhanlaxmi Bank Limited soared 14.6% to Rs 34.20 after the lender plans to issue 59.7 million shares on preferential basis.

GMR Infrastructure Ltd jumped 2.2% to Rs 20.85 after a consortium led by the company won construction of rail line projects total valued at approximately Rs 267 crore in Uttar Pradesh.

GMR share of the project work is about Rs 135 crore.

Hindustan Construction Company soared 5% to Rs 13.87 after the company secured Rs 903.83 crore order in joint venture with GVPR Engineers from Karnataka.

IVRCL Infrastructures & Projects Limited surged 7.7% Rs 11.06 after the said that its irrigation division and water division have bagged orders worth an aggregate Rs 2,632.85 crore.

Jubilant Life Sciences Ltd climbed 3% to Rs 141.10 after the company’s subsidiary Jubilant First Trust Healthcare has sold its hospital business to Narayana Health.

Steel Authority of India Limited advanced 2.5% to Rs 56.50 after the company said sales in February jumped 7% to 1.04 million tons.