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Market Update

India Movers: Cadila, GMR Infra, Hero MotoCorp, Just Dial, Lanco


Author: Mukesh Buch
ticker.com
Last Update: 9:29 AM ET December 12 2013

6:00 PM Mumbai Cadila Healthcare settled patent litigation with Warner Chilcott. GMR Infra and Megawide are the highest bidders for an airport terminal in Philippines. Hero and Magneti Marelli engine venture targets to generate revenue of $100 million.

The Sensex Index dropped 245.80 or 1.2% to close at 20,925.61. The CNX Nifty slumped 70.85 to close at 6,237.05.

Gainers & Losers

Britannia Industries Limited decreased 0.9% to Rs 880.55 after the company opened its first manufacturing unit for Bakery products in Bharuch district.

The manufacturing unit set up at an investment of about Rs 75 crore to Rs 100 crore with 45,000 tons per year capacity.

Cadila Healthcare Limited climbed 2.7% to Rs 744.70 after the company settled a patent litigation with US-based Warner Chilcott Company LLC.

GMR Infrastructure Ltd gained 1.4% to Rs 22.15 after the infrastructure developer and Philippines-based contractor Megawide Construction Corp were declared the highest bidder for $400 million airport terminal project.

Hero MotoCorp Limited dropped 1.9% to Rs 2,128.30 after the company signed joint venture with Italian firm Magneti Marelli SpA for engine systems and target $100 million in revenues in the next five years.

Just Dial Ltd increased 1.2% to Rs 1,158 after the company was selected to be included in the FTSE AllCap index from December 23.

Lanco Infratech Limited slid 0.1% to Rs 7.03 after the company said the consortium of 27 banks agreed for a corporate debt restructuring package of Rs 8,000 crore.

SKS Microfinance Limited jumped 3% to Rs 176.65 and the company has completed a securitization deal of Rs 80.81 crore through the nationalized bank.

Tata Motors Limited plunged 4.6% to Rs 360.60 after the company said November global sales surged 25% to 37,403 units.

In November, Jaguar Land Rover sales in China surged 42%, in North America soared 37%, in Asia Pacific climbed 32% and other overseas markets jumped 42%.

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