Bata India leads gainers in 'A' group

Footwear maker Bata India galloped 5.56% to Rs 532.65 on bargain hunting after the stock fell 15.11% in the preceding four sessions to Rs 504.60 on 19 December 2011 from a recent high of Rs 594.40 on 13 December 2011. The stock topped the gainers in the BSE's 'A' group.

Biotech major Biocon jumped 5.11% to Rs 255.90 on bargain hunting after the stock fell 25.43% in the preceding nine sessions to Rs 243.45 on 19 December 2011 from a recent high of Rs 326.45 on 5 December 2011. The stock was second biggest gainer in 'A' group.

Drug maker Ranbaxy Laboratories rose 3.09% to Rs 395.35 on bargain hunting after a recent slide. The stock was third biggest gainer in 'A' group.

Shares of Ranbaxy Laboratories had underperformed the market over the past one month until 19 December 2011, falling 16.34% compared with the Sensex's 6.06% decline. The scrip had also underperformed the market in past one quarter, falling 21.20% as against 8.16% fall in the Sensex.

State-run oil explorer ONGC rose 2.39% to Rs 253.20 as crude oil futures rose for the second day in a row on forecasts that US crude stockpiles declined for a second week and on speculation that further sanctions against Iran will curb supply. The stock was fourth biggest gainer in 'A' group.

Higher crude oil prices will result in higher realisations from crude sales for oil exploration firms such as ONGC. Crude for January 2012 delivery climbed as much as 1.42 cents, or 1.51% to $95.30 a barrel in Asian electronic trading today, 20 December 2011.

Mundra Port & Special Economic Zone rose 2.01% to Rs 122 on bargain hunting after the stock fell 7.89% in the preceding three sessions to Rs 119.60 on 19 December 2011 from a recent high of Rs 129.85 on 14 December 2011. The stock was fifth biggest gainer in 'A' group.

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