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Market Update

India Movers: Colgate Approved Stock Split, Hindustan Motors Sales Surge

Author: Mukesh Buch
Last Update: 7:42 AM ET March 08 2013

6:00 PM Mumbai Colgate-Palmolive board approved a 2-for-1 stock split. Hindustan Motors February sales surged 166.5%. Kalpataru Power secured orders worth more than $300 million. NYSE Euronext postponed 4.8% stake sale in MCX.

The Sensex Index jumped 281.65 or 1.5% to close at 19,695.19 The CNX Nifty advanced 82.40 or 1.4% to close at 5,945.70.

For the week, the Sensex climbed 4%.

Gainers & Losers

Colgate-Palmolive (India) Limited rose 0.03% to Rs 1,332.25 after the board approved a 2-for-1 stock split via a stock dividend and increased the dividend by 10%.

Hindustan Motors Limited soared 16.5% to Rs 10.42 after the company registered 166.5% monthly sales growth in February.

Jet Airways (India) Limited surged 9.9% to Rs 554.10 on the report that Etihad may buy a 10% to 12% stake in the company.

Kalpataru Power Transmission Limited jumped 3.4% to Rs 87.10 after the company secured new orders worth over Rs 1,810 crore in international and domestic markets.

Larsen & Toubro Limited advanced 2.2% to Rs 1,496.10 after the company signed agreement with CMI Energy for license extension to manufacture and supply small steam generators to South East Asia and the Middle East.

Multi Commodity Exchange of India Limited declined 4.5% to Rs 970.10 on the media reports that New York Stock Exchange postponed its plans to sell 4.79% stake.

Maruti Suzuki India Limited slipped 1.6% to Rs 1,427.70 after the company said it will suspend production of petrol cars at Gurgaon plant to cut inventory amid slowing sales.

The company is in the process of setting up a manufacturing plant with a total investment of $728 million in Gujarat.

Pantaloon Retail (India), Ltd gained 2.9% to Rs 184.45 after the company plans to raise Rs 800 crore unlocking value in two insurance joint ventures with Italy''s Generali Group.

Rashtriya Chemicals and Fertilizers Limited jumped 3.7% to Rs 45.45 after the central government set the base price for auction of a 12.5% stake at Rs 45 a share, 2.6% premium of closing price of Rs 43.85 of March 7.

Sun TV Network Limited rose 0.3% to Rs 429.30 and the board is in talks with foreign institutional investors to sell a 2% stake.

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