India Movers: Cipla, Havells India, IOB, Inox Leisure, ONGC, Torrent

Mukesh Buch
30 Jun, 2014
New York City

Cipla acquired 51% stake in generic pharmaceutical business in Yemen. Indian Overseas Bank plans to raise Rs 1,200 crore or $200 million. Inox Leisure chain is in talks to buy Satyam Cineplexes for $36 million. ONGC plans to invest nearly $900 million in an offshore oil field near Mumbai.

[R]6:00 PM Mumbai – Cipla acquired 51% stake in generic pharmaceutical business in Yemen. Indian Overseas Bank plans to raise Rs 1,200 crore or $200 million. Inox Leisure chain is in talks to buy Satyam Cineplexes for $36 million. ONGC plans to invest nearly $900 million in an offshore oil field near Mumbai.[/R]

The Sensex Index climbed 313.86 or 1.3% to close at 25,413.78 The CNX Nifty increased 102.55 or 1.4% to 7,611.35.

For the month, Sensex jumped to 4.9% and for the quarter soared 13.8% and for the first-half surged 20.2%.

Gainers & Losers

Cipla Ltd rose 0.1|% to Rs 437.95 after the company agreed to acquire 51% stake in pharmaceuticals manufacturing and distribution business in Yemen.

Havells India Ltd fell 1% to Rs 1,163.75 after the company approved the nominal value of equity shares split from face value of Rs 5 to Rs 1 per share.

Indian Overseas Bank surged 6.7% to Rs 81.50 after the bank shareholders approved proposal to raise Rs 1,200 crore through qualified institutional placements.

Inox Leisure Limited gained 1.2% to Rs 156.70 after the multiplex chain is in talks to buy Satyam Cineplexes Ltd in a transaction valued at Rs 220 crore or $36 million.

Oil & Natural Gas Corporation Limited climbed 3.1%to Rs 423.70 after the company plans to invest approx Rs 5,706 crore to redevelop of Mumbai High North oil field.

Torrent Pharmaceuticals Ltd increased 1% to Rs 709.65 after the company completed the acquisition of branded formulations business of Elder Pharma in India and Nepal.