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Market Update

India Movers: GMR Infra, Hero, L&T, M&M, Novartis, RCom, Siemens

Author: Mukesh Buch
Last Update: 9:44 AM ET July 01 2013

6:00 PM Mumbai – GMR Infra won an order build 200 mw power plant in Malta. L&T won new orders worth $500 million in June. Mahindra & Mahindra June sales declined 7.8%. RCom fully repaid two Syndicated loans worth $1 billion.

The Sensex Index gained 181.58 or 0.9% to close at 19,577.39 The CNX Nifty increased 56.65 to close at 5,898.85.

Gainers & Losers

GMR Infrastructure, Ltd jumped 3.9% to Rs 18.30 after the company was selected to build a 200 MW gas-fired power plant in Malta in the African continent.

Hero MotoCorp Limited increased 1.8% to Rs 1,691.70 after the company acquired 49.2% stake of U.S. based Erik Buell Racing, Inc. for $25 million.

Hindustan Motors Limited advanced 9.4% to Rs 8.37 after the signed contract with Isuzu Motors India to manufacture utility vehicles and pickup trucks.

Larsen & Toubro Limited jumped 2.3% to Rs 1,436.95 after the company acquired new order worth Rs 3,057 crore in various business segments in June.

Mahindra & Mahindra Limited fell 0.8% to Rs 958.75 after the company’s total June auto sales declined 7.8% at 38,092 units and domestic tractor sales jumped 19% to 26,723 units.

Novartis India Limited gained 1.6% to Rs 486.90 after the parent company in Switzerland sold 1.42% stake through open market for Rs 25 crore.

Reliance Communications Limited climbed 12.2% to Rs 132.95 after the company paid in full two Syndicated loans worth $500 million each by the end of June.

Reliance Infrastructure Limited jumped 5.1% to Rs 366.50 after the company exited from the Delhi airport metro operations and took the Delhi Metro Railway Corporation project.

Reliance has invested Rs 2,800 crore and said it exited the contract to operate the train for 30 years and blamed Delhi Metro for failing to complete the tunnel and other infrastructure repairs.

Reliance shut the link for repairs in July last year after it found defects in civil structures built by Delhi Metro. Delhi Metro spokesman denied the allegation and said the dispute with Reliance is under arbitration.

Siemens Limited gained 2.4% to Rs 565.50 and the company with a consortium secured order worth Rs 248 crore from Delhi Metro Rail Corporation.

United Spirits Limited surged 13.3% to Rs 2,460.35 after the Morgan Stanley Asia (Singapore) Pte today purchased 10,80,000 shares for valued Rs 229 crore.

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