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Market Update

India Movers: Bhel, Gujarat Gas, Hanung Toys, Tata Motors, TCS

Author: Mukesh Buch
Last Update: 9:10 AM ET September 04 2013

6:00 PM Mumbai Bhel won approval Bhart Heavy Plate and Vessels. Gujarat Gas singed pact with GSPC for gas supply. Hanung Toys withdrew stock split proposal. SKS Microfinance founder and key shareholder trim stakes. Tata Motors reconfirmed planned investment of $44.12 million.

The Sensex Index jumped 332.89 or 1.8% to close at 18,567.55 The CNX Nifty climbed 106.65 or 2% to close at 5,448.10.

Gainers & Losers

Bharat Heavy Electricals Limited climbed 6.2% to Rs 126.80 after the Board for Industrial and Financial Reconstruction approved pending merger with Bharat Heavy Plate and Vessels.

Gujarat Gas Company Limited gained 4.4% to Rs 207.45 after signing a pact with Gujarat State Petroleum Corporation for long-term gas procurement deal.

Hanung Toys and Textiles Limited] surged 4.9% to Rs 15.67 and the board of directors withdrew the proposal of a 2-for-1 stock split.

Redington (India) Limited jumped 3.6% to Rs 59.50 after its Turkish subsidiary acquired 47.8% stake in ADEO Bilisim Danismanlik Hizmetleri San. ve Tic. AS for $1.09 million.

SKS Microfinance Ltd plunged 6.1% to Rs 124.20 after the founder Vikram Akula and private equity firm Sequoia Capital sold 9,06,724 and 15,00,000 shares respectively valued Rs 32 crore.

Tata Motors Limited climbed 4.7% to Rs 311.25 after the automobile company reconfirmed its planned investment of Rs 3,000 crore in the current financial year.

Tata Consultancy Services Limited soared 3.7% to Rs 2,075 after the Norwegian financial group DNB selected the company six-year managed services contract for multi-million euros.

United Spirits Limited advanced 3.2% to Rs 2,351.40 after the U.S. based brokerage firm Morgan Stanley acquired additional stake of 0.25% in open market.

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