Bharti Airtel (3.9% down)
The Bharti Airtel share lost 3.9% on disappointment that the stock was not included in the MSCI India Index but rival Idea Cellular was. The MSCI changes take effect after the close of trading 29 May, according to a statement issued by MSCI Inc.
Take Solution (20% up)
Take Solution Ltd rose20%, hitting the upper circuit for the second day running after Passport India Investment (Mauritius) Ltd bought 5.7 millionshares or 4.6% equity at Rs24.40 per share on Wednesday. Passport India increased its stake in the firm from 4.5% to nearly 9%.
Bajaj Auto (7.7% up)
Shares of Bajaj Auto Ltd gained 7.7% on being included in the MSCI India Index. Analysts at HSBC recommend investors to initiate positions in the Bajaj Auto stock on the close of 14 May and run these until the close of business on 29 May, the effective date of the quarterly review.
Lupin (4.3% down)
Lupin shares moved down 4.3% on USFDA concerns. The firm’s management says the firm is working with USFDA to solve issues mentioned in a letter. The management says it hopes to resolve issues in the near term and was confident about maintaining growth rate of the past five years.
United Phosphorus (6.4% up)
United Phosphorus Ltd shares ended Wednesday up 6.4% each on the National Stock Exchange after the company’s stock was included in the MSCI India Index. Also helping the share was the company’s management saying that the firm will maintain margins in fiscal 2010.
JK Lakshmi (19.6% up)
JK Lakshmi Cement Ltd surged 19.6% after posting good numbers. The firms net sales for Q4 was Rs364.4 crore (up 25%), operating profit was Rs112 crore (up 29%). Net profits were Rs104 crore and operating profit margin was at 30.7% . However, for the fiscal, net profit fell by 20.15% to Rs178.59 crore.
Mercator Lines (6.6% up)
Shipping firm Mercator Lines’ share was up 6.6% as the Baltic Dry Index hits a new 2009 high driven by continued demand for goods by China. The index, which gauges the cost of shipping resources, rose to 2,332 points. Chinese demand for iron ore, coal and grains has pushed the index up.
Balaji Telefilms (5.5% down)
Balaji Telefilms lost 5.5% after it reported its first quarterly loss since at least 2002. Q4 net loss was at Rs14.6 crore against a profit of Rs23.85 crore a year earlier. The biggest draggers were provision of doubtful debts and depreciation. Ebitda loss was at Rs13.7 crore.