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Market Update

India Movers: Bharti Airtel, Hindalco, Hanung Toys, Piramal, TTK Prestige

Author: Mukesh Buch
Last Update: 9:39 AM ET June 05 2013

6:00 PM Mumbai –Bharti Airtel shareholders approved 5% stake sell to Qatar Foundation for $5 billion. Hindalco plans to raise $900 million. Third Avenue acquired 1.7% stake of Piramal Enterprises. TTK Prestige sold a stake to Mauritius based Cartica.

The Sensex Index declined 455.10 or 2.3% to close at 19,760.30 The CNX Nifty dropped 138.10 or 2.3% to close at 5,985.95.

Gainers & Losers

Alchemist Limited decreased 0.3% to Rs 38.85 after the fourth quarter net loss widened to Rs 0.14 crore compared to Rs 0.03 crore a year ago period.

For the year, net loss widened to Rs 0.24 crore compared to Rs 0.13 crore a year ago.

Bharti Airtel Limited slid 0.7% to Rs 302 after shareholders approved a $1.2 billion deal to sell 5% to the Qatar Foundation Endowment.

Hindalco Industries Limited gained 1.3% to Rs 102.45 and the company plans to raise Rs 5,000 crore to refinance expensive debt.

Hanung Toys and Textiles Limited soared 5.9% to Rs 115.15 and the board plans to consider stock split on June 12, sub-divide at face value of Rs. 10 per shares.

Just Dial Limited after the shares of local business search provider on phone traded at Rs 614, a premium of 15.6% from the initial public offer price of Rs 530 per share.

The Lakshmi Mills Company Limited closed unchanged at Rs 1,345.05 after fourth quarter in the net swung to profit Rs 8.44 crore compared to net loss Rs 5.95 crore in the same quarter last year. Revenues climbed 61% to Rs 46.74 crore.

For the year, net profit slumped 16% to Rs 11.04 crore and revenues jumped 9.7% to Rs 163.89 crore.

Piramal Enterprises Limited rose 0.7% to Rs 550 after the Third Avenue Management LLC buy 21,87,704 shares of Piramal Enterprises at Rs 534 from Morgan Stanley Asia (Singapore) Pte.

Third Avenue acquired nearly 1.7% stake for around Rs 117 crore.

Ruchi Soya Industries Ltd jumped 2.5% to Rs 68.55 after the edible oil producer plans to partner with Japan based two oil makers J-Oil Mills Inc. and Toyota Tsusho Corporation.

Swelect Energy Systems Limited down 0.5% to Rs 148 after n,et profit in the fourth quarter declined 3.7% to Rs 10.61 crore and sales plunged 88.5% to Rs 16.10 crore.

For the full-year, net profit surged 1375% to Rs 510.80 crore and sales tumbled 81% to Rs 100.84 crore.

TTK Prestige Limited climbed 1.9% to Rs 3,519 after the company sold 3,50,000 shares to Cartica Mauritius based leveraged buyout firm at Rs 3,550 per share to raised approx Rs 106.50 crore.

Cartica Capital will hold 5.6% stake in the company the single largest investor in the company.

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