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Market Update

India Movers: Glaxo, Jaiprakash, Natco, Reliance Infra, Suzlon

Author: Mukesh Buch
Last Update: 8:56 AM ET November 18 2013

6:00 PM Mumbai Amara Raja net surged 35% after sales climbed 12%. Glaxo plan to invest 85 million for a manufacturing plant near Bangalore. Jaiprakash Associates net tumbled 47%. Natco net soared 29% and won a patent case against Israeli drug-maker Teva. State Bank of Mysore net declined 79%.

The Sensex Index climbed 451.32 or 2.2% to close at 20,850.74. The CNX Nifty jumped 132.85 or 2.2% to close at 6,189.

Gainers & Losers

Amara Raja Batteries Limited slid 0.5% to Rs 313.75 after net profit in the second-quarter surged 34.9% to Rs 94.58 crore and net sales climbed 12.4% to Rs 804.72 crore.

GlaxoSmithKline Pharmaceuticals Limited decreased 0.01% to Rs 2,410.25 and the company plans to invest Rs 864 crore or 85 million for a manufacturing facility in Bangalore.

Jaiprakash Associates Limited climbed 6.3% to Rs 48.20 after net profit in the second-quarter tumbled 47.1% to Rs 67.67 crore and net sales advanced 5.6% to Rs 3,149.40 crore.

Natco Pharma Ltd rose 0.8% to Rs 799.05 after consolidated net profit in the second-quarter soared 28.6% to Rs 27 crore and revenue fell 1.6% to Rs 188 crore.

The company also won a patent case against Israeli drug manufacturer Teva Pharmaceutical Industries Limited.

Reliance Infrastructure Ltd climbed 3.4% to Rs 426.80 after the company commissioned 311 kilometer Pune-Parli transmission line in Maharashtra.

Suzlon Energy Limited surged 10% to Rs 10.06 after the company unveil its new offshore turbine, the Repower 6.2M152, at the EWEA Offshore 2013 event in Frankfurt.

State Bank of Mysore jumped 2.3% to Rs 438 after net profit in the second-quarter declined 79.3% to Rs 30.08 crore and total revenue jumped 4.9% to Rs 1,687.71 crore.

The bank increased its base rate by 10 basis points to 10.25% from November 16.

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