Indraprastha Gas leads gainers in 'A' group

Piped gas distributor Indraprastha Gas surged 11.45% to Rs 301.30 on reports that the company is headed for an out-of-court settlement with Petroleum and Natural Gas Regulatory Board (PNGRB) in tariff case. The stock topped the gainers in the BSE's 'A' group.

The Supreme Court is hearing a plea filed by PNGRB after the Delhi High Court ruled that the regulator cannot fix selling price for Indraprastha Gas. The apex court has reportedly deferred the case hearing to 16 April 2013.

India's largest car maker by sales Maruti Suzuki India spurted 7.23% to Rs 1,405.95 after the Japanese yen tumbled against the dollar on Friday, 5 April 2013, after the Bank of Japan announced an aggressive monetary stimulus on Thursday, 4 April 2013. The stock was second biggest gainer in 'A' group.

Maruti Suzuki is likely to benefit from depreciating yen as it imports raw materials from its Japanese parent Suzuki Motor. It also pays annual royalty on sales to the Japanese parent.

Auto component maker Motherson Sumi Systems jumped 4.72% to Rs 184.25 on bargain hunting after the stock fell 15.77% in the preceding eight sessions to Rs 175.95 on 4 April 2013 from a recent high of Rs 208.90 on 21 March 2013. The stock was third biggest gainer in 'A' group.

Beer maker United Breweries climbed 3.79% to Rs 765.55. The stock was fourth biggest gainer in 'A' group.

Tea producer McLeod Russel India rose 3.49% to Rs 342.85 on bargain hunting after the stock fell 7.66% in the preceding three trading sessions to Rs 331.30 on 4 April 2013 from a recent high of Rs 358.80 on 1 April 2013. The stock was fifth biggest gainer in 'A' group.

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