Britannia Industries leads gainers in 'A' group

Gujarat State Petronet, ING Vysya Bank, Shree Cement and Jet Airways (India) are among the other gainers.

FMCG company Britannia Industries surged 6.23% to Rs 823.55 after hitting a record high of Rs 840 in intraday today, 30 September 2013. The stock topped the gainers in the BSE's 'A' group.

Gujarat State Petronet, which operates natural gas transmission network, spurted 5.58% to Rs 54.85. The stock was second biggest gainer in 'A' group.

ING Vysya Bank galloped 5.11% to Rs 536 on report that ING Groep NV, the biggest Dutch financial-services company, is seeking a buyer for its 43% stake in ING Vysya Bank, as the prospects of limited purpose banking in India and tough competition in retail market make it rethink its local strategy.

Referring to the news report, ING Vysya Bank clarified after market hours today, 30 September 2013, that ING never comments on market rumours and speculations and the bank does not have any other specific comments to offer. ING Vysya Bank was third biggest gainer in 'A' group.

Rajasthan-based Shree Cement jumped 3.62% to Rs 4,149. The stock was fourth biggest gainer in 'A' group. Shares of select cement companies rose on price hike reports. According to reports, the prices have gone up by Rs 10-15 per bag in the western region.

Air carrier Jet Airways (India) climbed 2.99% to Rs 359.40. The stock was fifth biggest gainer in 'A' group. Media report indicated that the Jet-Etihad deal may be ready to take off soon as the Cabinet Committee on Economic Affairs (CCEA) is likely to take up as early as 3 October 2013.

Etihad Airways on 24 April 2013 announced that it agreed to subscribe to 2.72 crore new shares of Jet Airways at Rs 754.74 per share. The value of this equity investment is $379 million and will result in Etihad Airways holding 24% of the enlarged share capital of Jet Airways.

The Foreign Investment Promotion Board (FIPB) has already given its nod to the Jet-Etihad deal. Now, the CCEA and the fair trade regulator, Competition Commission of India, are to give final clearance.

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