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Market Update

India Movers: Aban Offshore, Bombay Dyeing, Cipla, HDFC, Shriram, Wyeth

Author: Mukesh Buch
Last Update: 10:13 AM ET November 20 2013

6:00 PM Mumbai Aban Offshore net climbed as sales jumped. Bombay Dyeing denied the media report of Wadala land handover order. HDFC plans to raise Rs. 250 crore from non-convertible debentures. Shriram EPC won orders worth Rs 214 crore. Wyeth plans to merge with Pfizer.

The Sensex Index declined 255.69 or 1.2% to close at 20,635.13. The CNX Nifty dropped 80.45 to close at 6,122.90.

Gainers & Losers

Aban Offshore Limited jumped 2.9% to Rs 304.65 after profit climbed to Rs. 77.68 crore and net sales jumped 5% to Rs.1,001.59 crore from Rs.954.05 crore a year ago period.

Bombay Dyeing and Manufacturing Company climbed 4.7% to Rs 69.40 after the company denied media report that Bombay High Court ordered to hand over 66,651 square meters land of Wadala to BMC and Mhada.

Cipla Limited slipped 1.8% to Rs 392.85 after consolidated net profit in the second-quarter declined 26.6% to Rs 358 crore and revenue climbed 14% to Rs 2,463 crore.

HDFC Bank Limited fell 1.5% to Rs 649.70 after the mortgage lender plans to raise Rs. 250 crore through a non-convertible debentures issue.

Shriram EPC Limited gained 2.1% to Rs 32 after the company said it won multiple orders worth Rs 214 crore including Rs 157 crore contracts from Bharat Petroleum Corporation Limited.

Wyeth Limited surged 20% to Rs 776.80 after the company said its plans to merge with Pfizer. Today before the market opening the company reported its board will meet on November 23 to consider a scheme of amalgamation of the company with Pfizer.

The board of Pfizer will also meet on November 23, to consider the proposed amalgamation. Shares of Pfizer Limited climbed 5.2% to Rs 1,415.80.

Venus Remedies Ltd climbed 3.7% to Rs 208.10 after the company said it became the first pharma firm to get marketing approval from Saudi Food and Drug Authority for meropenem in Gulf.

The company said net profit in the second-quarter was flat at Rs 14.99 crore and net sales climbed 13% to to Rs 125.24 crore.

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