IndusInd Bank leads gainers in 'A' group

Engineers India, Titan Industries, Reliance Communications and MRF are among the other gainers.

Private sector bank IndusInd Bank surged 7.22% to Rs 450.10 after striking a record high of Rs 455.70 in intraday trade today, 18 April 2013. The stock topped the gainers in the BSE's 'A' group.

IndusInd Bank's net profit rose 37.61% to Rs 307.40 crore on 23.55% increase in total income to Rs 2190.66 crore in Q4 March 2013 over Q4 March 2012. The result was announced during trading hours today, 18 April 2013.

State-run Engineers India jumped 5.73% to Rs 173.35. The stock was second biggest gainer in 'A' group.

Gold jewellery and watches maker Titan Industries climbed 5.35% to Rs 259.15. The stock was third biggest gainer in 'A' group. Shares of the gold jewellery retailer surged on expectations that the recent steep fall in gold price will boost sales of gold jewellery. As per reports, jewellery retailers have witnessed brisk sales this week as gold prices declined sharply in just a few days after 12 years of sustained upside.

Anil Dhirubhai Ambani-controlled Reliance Communications (RCom) rose 4.87% to Rs 86.10. The stock was fourth biggest gainer in 'A' group. Shares of RCom have been on a roll recently on media reports that RCom is planning to sell 80% stake in subsidiary Reliance Globalcom to a consortium led by Bahrain Telecommunications Company (Batelco) for around Rs 6000 crore. Started in 1990 as Flag Telecom, Reliance Globalcom is a global managed network and communication service provider to carriers, ISPs and Multinational enterprises.

On 2 April 2013, RCom and Reliance Jio Infocomm had announced the signing of a definitive agreement for approximately Rs 1200 crore as one time indefeasible right to use (IRU) fees for sharing RCom's nationwide inter-city fiber optic network infrastructure. Reliance Jio Infocomm will utilize multiple fiber pairs across RCom's 1.2 lakh kilometres inter-city fiber optic network to provide a robust and future proof backbone for rolling out its state-of-the-art 4G services. As per the agreement, RCom will in turn have reciprocal access to optic fiber infrastructure to be built by Reliance Jio Infocomm in the future. The agreement provides for joint working arrangements to be put in place immediately for upgradation of the optic fiber network, to ensure seamless delivery of next generation services.

Tyres maker MRF rose 4.81% to Rs 12,898.05 after net profit jumped 40.29% to Rs 210.61 crore on 2.87% decline in net sales to Rs 2904.77 crore in Q2 March 2013 over Q2 March 2012. The result was announced during trading hours today, 18 April 2013. The stock was fifth biggest gainer in 'A' group.

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