Bharti Airtel (down 5.7%)
After opening 5% up in early trade, Bharti Airtel shares ended down 5.7% on reports the MTN deal may be slightly dilutive in the first year. However, the current transaction structure will not result in open offer in India. The firm is also mulling structures to achieve its objective of 25% sale to MTN.
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Deccan Chronicle (up 6.5%)
Following the Deccan Chargers’ victory in the second edition of the Indian Premier League, shares of Deccan Chronicle Holdings Ltd rose 6.5%. Deccan Chargers is a 100% subsidiary of Deccan Chronicle. Management and reports indicate the team could see profits of Rs35-40 crore.
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Ranbaxy (up 21.2%)
Shares of Ranbaxy Laboratories Ltd surged 21.2%. CEO Atul Sobti dispelled delisting rumours. He said the company would remain listed, adding that Ranbaxy plans to reverse forex losses in the next quarter. He also said the company had had three good meetings with the US Food and Drug Administration.
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HT Media (up 7.9%)
HT Media ended up 7.9% after it increased the price of ‘Hindustan Times’ in Delhi by 50 paise. Recently, Reliance Life bought 4 million shares in the company at Rs100 per share. KMUK A/C Sandstone Capital bought 3.09 million shares at Rs86 a share on Thursday. HT Media is the publisher of ‘Mint’.
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PNB (down 3%)
Punjab National Bank ended down 3% as foreign ownership in the company reached the caution limit of 18%, with effect from Friday. FIIs will have to take clearance from the central bank for further purchases— approvals will be given on a first-come-first- served basis, till the limit of 20% is reached.
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Indowind Energy (up 15.9%)
The shares of Indowind Energy Ltd gained 15.9% to close at Rs33 a share on the Bombay Stock Exchange on Monday. The stock touched an intraday high of Rs34.25. According to CNBC-TV18 Impact, the government has been pushing for more reforms in the alternative energy sector.
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Glenmark (up 13.4%)
Glenmark gained 13.4% after it emerged as the first company to have received tentative approval from the US Food and Drug Administration for the 10mg generic Zetia, which has annual revenues of $1.5 billion. It closed at Rs251.95 per share on Monday on the Bombay Stock Exchange.
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Oscar Investments (up 19.96%)
Oscar Investments Ltd’s shares hit the 20% upper circuit on low volumes. The company is promoted by Malvinder Mohan Singh and Shivinder Mohan Singh who, along with family, hold 69.1% stake. On Monday, the stock closed at Rs240.75 per share on the Bombay Stock Exchange.
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