India to Sell 10% Stake in NMDC, Suzlon to Sell German Unit

Mukesh Buch
22 Jan, 2015
New York City

Alembic said net swung to a loss. Century Plyboards net soared 110%. Dish TV net loss narrowed. ING Vysya Bank net fell 13%. L&T Finance net surged 66%. Raymond net slid 1% but sales jumped 13%. Suzlon sold its German unit for about $1.1 billion.

[R]6:00 PM Mumbai – Alembic said net swung to a loss. Century Plyboards net soared 110%. Dish TV net loss narrowed. ING Vysya Bank net fell 13%. L&T Finance net surged 66%. Raymond net slid 1% but sales jumped 13%. Suzlon sold its German unit for about $1.1 billion.[/R]

Mumbai market indexes extended rally for the third day this week and rupee trended higher as global investors continue to increase purchases of bonds and stocks in India.

Indian rupee closed at 61.70 against one dollar.

The Sensex Index advanced 117.16 or 0.4% to close at 29,006.02. The CNX Nifty added 31.90 or 0.4% to 8,761.40.

Gainers & Losers

Alembic Pharmaceuticals Limited plunged 9.9% to Rs 46.20 after the pharmaceutical product maker said net in the third-quarter swung to a loss Rs 2.50 crore compared to profit of Rs 2.90 crore.

Net revenues increased 7.51% to Rs 38.18 crore.

Century Plyboards (India) Limited dropped 3.5% to Rs 185.65 after the plywood maker reported net in the third-quarter climbed 109.6% to Rs 41.37 crore.

Net sales jumped 25.8% to Rs 381.85 crore.

Dish TV India Limited climbed 4.5% to Rs 74.35 after the DTH service provider said net loss in the third-quarter narrowed to Rs 2.87 crore compared to Rs 38.25 crore in the same period last year.

Total revenues soared 17.14% to Rs 729.25 crore.

ING Vysya Bank Ltd slid 0.02% to Rs 978.05 after the operator of private sector bank reported net in the third-quarter slipped12.93% to Rs 145.69 crore.

Net sales advanced 13.8% to Rs 145.69 crore.

L&T Finance Holdings Limited jumped 3.1% to Rs 71.65 after the financial service provider said net in the third-quarter soared65.56% to Rs 181.60 crore.

Net sales climbed 23.19% to Rs 1,611.52 crore.

NMDC Limited slipped 1.1% to Rs 136.85 on reports that the central government is planning to sell its 10% stake in the company.

NIIT Limited gained 1.9% to Rs 46.20 after the skills and talent development secured three-year training services contract from Vestas Wind Systems A/S in Aarhus, Denmark.

Raymond Limited declined 1.8% to Rs 521.40 after the branded apparel maker reported net in the third-quarter fell 1.4% to Rs 56.07 crore.

Net sales increased 13.9% to Rs 1,396.26 crore.

Sterlite Technologies Limited surged 7.9% to Rs 67.65 after the transmission solution provider said net in the third-quarter soared 360% to Rs 23 crore.

Net revenues climbed 31.61% to Rs 895 crore.

Suzlon Energy Ltd tumbled 7.5% to Rs 15.91 after the world''s fifth largest wind turbine maker agreed to sell its German unit Senvion SE to U.S.-based Centerbridge Partners for about Rs 7,154 crore or $1.16 billion.