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Stocks in news: India Cements, Essel Propack and more

Essel Propack has sold its wholly owned subsidiary Packaging India Pvt Ltd, valued at Rs 165 crore, to Amcor Flexibles India Pvt Ltd.

BT Online Bureau   New Delhi     Last Updated: July 14, 2015  | 17:08 IST
Stocks in news: India Cements, Essel Propack and more

Domestic equity markets closed on a weak note as news from macro front was not supportive. Retail inflation rose to 5.4 per cent in June, the highest in the last eight months. Food prices are the main culprit. June WPI inflation has been negative for the seventh consecutive month, coming in at -2.4 per cent in June against -2.36 percent in May.

The key benchmark indices BSE Sensex and NSE Nifty fell marginally 0.10 per cent and 0.07 per cent to 27932.90 and 8454.10, respectively.

Here are some stocks that made the most buzz today:

Among the Nifty stocks, Coal India, Infosys, BPCL, HUL and Lupin jumped 3.14 per cent, 2.09 per cent, 1.92 per cent, 1.76 per cent and 1.72 per cent, respectively.

However, Tata Motors, State Bank of India, Hindalco, Vedanta and Cairn India slid 4.24 per cent, 2.06 per cent, 2.02 per cent, 1.73 per cent and 1.31 per cent, respectively, and stood at the bottom of the performance chart.

India Cements: Share price of India Cements slid 3.66 per cent on the BSE on reports that Chennai Super Kings (CSK) and Rajasthan Royals were suspended from the cash-rich Indian Premiere League (IPL) for two years for betting activities of their key officials Gurunath Meiyappan and Raj Kundra during the 2013 season. India Cements is a promoter of CSK.

Tata Motors: Rising concerns over slower economic growth in China and profit warning by Brillance China Automotive Holdings Ltd hit Tata Motors stock as it hit a fresh 52-week low of Rs 381.15 on Tuesday. China is the biggest market for Tata Motors' Jaguar Land Rover (JLR). The scrip closed 4.10 per cent lower at Rs 385.75.

Dr Reddy's Laboratories: Share price of the pharma firm gained 0.48 per cent on Tuesday after the company announced that it has launched Memantine hydrochloride tablets USP, 5 mg and 10 mg, a therapeutic equivalent generic version of NAMENDA (memantine HCl) tablets in the US market on July 12, 2015 approved by the United States Food & Drug Administration (USFDA). The scrip closed at Rs 3,776.90.

Essel Propack:The company has sold its wholly owned subsidiary Packaging India Pvt Ltd, valued at Rs 165 crore, to Amcor Flexibles India Pvt Ltd. The agreement has been signed and the deal is completed for full cash consideration, Essel Propack said without disclosing the actual cash realisation. The share price of the company jumped 4.32 per cent to Rs 147.20 on Tuesday.

 

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