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Market Update

India Movers: Adani Power, Gujarat Gas, Jet Airways, SKF India, Voltas

Author: Mukesh Buch
Last Update: 11:26 AM ET February 22 2013

6:00 PM Mumbai Gujarat Gas fourth quarter net surged 182.4%. Hindustan Motors in talks with European sports utility vehicle makers. Etihad chairman said it needs to revise the deal with Jet Airways. SKF India net declined 20.2%. Voltas joined hands with Benninger AG for marketing and selling.

The Sensex Index inched lower 8.35 to close at 19,317.01 The CNX Nifty edged down 1.95 to close at 5,850.30. For the week, the BSE Sensex slid 0.8%.

Gainers & Losers

Adani Power Limited gained 0.5% to Rs 50.30 after the power sector regulator CERC is expected to decide on higher tariff for electricity generated for imported coal projects in Gujarat.

Exide Industries Limited dropped 2.7% to Rs 125.65 after fair trade regulator give green signal on proposal of fully acquisition of ING Vysya Life Insurance Company.

Gujarat Gas Company Limited rose 0.07% to Rs 290.30 after consolidated net profit in the fourth quarter surged 182.4% to Rs 70.60 crore.

Hindustan Motors Limited fell 0.5% to Rs 9.45 after the company said it is in talks with European sports utility vehicle makers to utilize the surplus capacity of its Chennai car plant.

Jet Airways (India) Limited plunged 5.8% to Rs 527.35 after Etihad Airways chairman said it needs to revise the deal to buy a stake in the Indian carrier.

Orissa Sponge Iron & Steel Limited slumped 3% to Rs 116.50 after the company reported net loss in the third quarter narrowed to Rs 17.31 crore from Rs 20.68 crore a year ago earlier.

SKF India Limited slipped 1.2% to Rs 544.90 after net profit in the fourth quarter declined 20.2% to Rs 32.19 crore.

Sun Pharmaceutical Industries Limited increased 1.9% to Rs 811.30 after Credit Sussie upped its price target from Rs 840 earlier to Rs 900.

The Federal Bank Limited gained 0.4% to Rs 496 after the bank reduced 0.25% in its base rate, or minimum rate of lending at 10.20%.

Voltas Limited slid 0.2% to Rs 87 after the joined hands with Swiss textile equipments maker Benninger AG to sell its equipment in India.

Shriram Transport Finance Company, Ltd advanced 2.2% to Rs 714.45 after the South African financial services group Sanlam agreed to buy 3.7% for 650 crore.

Websol Energy Systems Limited climbed 5% to Rs 9.24 after the company said net loss in the third quarter narrowed to Rs 7.26 crore compared to Rs 42.94 crore a year ago period.

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