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Market Update

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

Author: Mukesh Buch
Last Update: 8:31 AM ET February 18 2014

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%.

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.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc