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Market Update

India Movers: GMR Infra, HOEC, L&T, NMDC, SAIL

Author: Mukesh Buch
Last Update: 8:16 AM ET June 10 2013

6:00 PM Mumbai Dharamsi Morarji net swung to profit on the rising sales. GMR Infra wrote off nearly $80 million on two of its global assets. HOEC net swung to loss. L&T secured road project worth $1.3 billion.

The Sensex Index edged up 11.84 to close at 19,441.07 The CNX Nifty slid 3 to close at 5,878.

Gainers & Losers

Dharamsi Morarji Chemical Company Limited declined 1.1% to Rs 8 after net in the fourth quarter swung to profit Rs 35.31 crore and sales rose 2.63% to Rs 20.69 crore.

For the year, net swung to profit Rs 33.25 crore compared to net loss of Rs 3.98 crore and sales grew 5.2% to Rs 85.59 crore.

GMR Infrastructure, Ltd dropped 1.2% to Rs 20.50 after the infrastructure developer wrote off Rs 453 crore on two of its global assets in coal mines and airports.

Separately, GMR Airports Ltd a subsidiary of GMR Infrastructure has acquired 17.03% stake in Delhi Duty Free Services Private Ltd.

Hindustan Oil Exploration Company Ltd plunged 9.9% to Rs 35 after fourth quarter net swung to a loss Rs 28.33 crore compared to net profit of Rs 7.55 crore and net sales climbed 28.5% to Rs 33.36 crore.

Jet Airways (India) Limited tumbled 11.2% to Rs 403.70 ahead of the regulatory meeting tomorrow to discuss the stake sale to Etihad Airways.

Larsen & Toubro Limited slipped 0.5% to Rs 1,405.80 after secured road project worth Rs 6,700 crore from Haryana to Gujarat in partnership with Sojitz Corporation of Japan.

NMDC Limited gained 0.5% to Rs 116.35 after it signed a memorandum of understanding with Mosi Oa Tunya Development Company for mineral projects in Zimbabwe.

Steel Authority of India Limited rose 0.1% to Rs 55.85 after the company set up a joint venture with Japan based Kobe steel to set up iron ore nugget plant in West Bengal at an estimated cost of Rs 1,500 crore.

VA Tech Wabag fell 1.6% to Rs 443.75 after the company secured order worth Rs 114.85 crore from Chennai Metropolitan Water Supply and Sewage Board.

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