Maruti Suzuki India leads gainers in 'A' group

Adani Enterprises, HPCL, Indian Oil Corporation and Godrej Industries are among the other gainers.

India's largest car maker by sales Maruti Suzuki India (MSIL) jumped 7.11% to Rs 1,674.35, with the stock recovering from Tuesday's steep slide triggered by the company's decision to route the expansion project in Gujarat through a 100% subsidiary of Suzuki Motor Corporation, Japan. The stock topped the gainers in the BSE's 'A' group.

MSIL made the announcement during trading hours on Tuesday, 28 January 2014. The stock slumped 8.12% to Rs 1,563.20 on that day. The stock tumbled 13.41% in the preceding four sessions to Rs 1,563.20 on Tuesday from a recent high of Rs 1,805.30 on 22 January 2014.

Commodities trading company Adani Enterprises galloped 6.09% to Rs 254.30. The stock was second biggest gainer in 'A' group. The company unveils Q3 results on 31 January 2014.

Public sector oil marketing company HPCL spurted 5.61% to Rs 240.20. The stock was third biggest gainer in 'A' group. The company unveils Q3 results on 11 February 2014.

HPCL, announced during trading hours today, 29 January 2014, that its wholly owned subsidiary has entered into a sale purchase pact with AWE, Australia to acquire stake in 2 Australian gas fields for total consideration of AUD 85 million.

HPCL said that Prize Petroleum Company, which is a wholly owned subsidiary and upstream arm of the company has entered into a sale purchase agreement with AWE, Australia to acquire 11.25% interest in T/L1 license (includes Yolla producing field and BassGas infrastructure) and 9.75% interest in T/18P permit (includes Trefoil development field) in Australia for a total consideration of AUD 85 million. The field is operated by Origin Energy and is held by a consortium in which Origin Energy, AWE and Toyota Tsusho are the major partners, HPCL said in a statement.

HPCL said that the fields are located in shallow water in Bass basin between mainland Australia and Tasmania offshore Victoria. In addition to the field, the acquisition will also entail a stake in offshore platform, gas processing plant and a 147 Km subsea pipeline. Production from Yolla mainly comprises of Gas, LPG and condensate, HPCL said in a statement.

Public sector oil marketing company Indian Oil Corporation climbed 5.35% to Rs 235.45. The stock was fourth biggest gainer in 'A' group. The company unveils Q3 results on 13 February 2014.

Diversified company Godrej Industries rose 5.03% to Rs 281.05. The stock was fifth biggest gainer in 'A' group. The company unveils Q3 results on 7 February 2014.

Powered by Capital Market - Live News