Supply chain solution provider Redington (India) jumped 6.05% to Rs 77.95. The stock topped the gainers in the BSE's 'A' group.
Redington (India) announced after trading hours today (19 December 2011) that it acquired 25.97% stake of its Cayman Island-based overseas business holding arm Redington International Holding from Gulf-based private equity fund, Investcorp (IVC), for $113 million. With this stake buy, Redington's shareholding in the overseas arm will go up to 95.56%. The balance is held by employees of the Redington group.
Sugar maker Shree Renuka Sugars climbed 5.43% to Rs 25.25 on bargain hunting after the stock tumbled 27.31% in the preceding nine sessions to Rs 23.95 on 16 December 2011 from a recent high of Rs 32.95 on 2 December 2011. The stock was second biggest gainer in 'A' group.
India's largest commercial vehicle maker by sales Tata Motors rose 4.44% to Rs 179.90. The stock was third biggest gainer in 'A' group. The company's global vehicle sales rose an annual 35% to 1,08,028 units in November 2011 over November 2010, with its luxury Jaguar Land Rover unit reporting a 27% rise in sales to 29,183 units. Sales of Jaguar cars fell 5% to 5,315 units while those of Land Rover sport-utility vehicles gained 38% to 23,868 units. The company said it sold 49,724 trucks and buses globally in November, up 24% from a year earlier.
Private sector oil explorer Cairn India rose 4.17% to Rs 309.90. The stock was fourth biggest gainer in 'A' group.
Infrastructure developer Lanco Infratech rose 4.08% to Rs 9.19 on bargain hunting after the stock tumbled 30.47% in the preceding seven sessions to Rs 8.83 on 16 December 2011 from a recent high of Rs 12.70 on 7 December 2011. The stock was fifth biggest gainer in 'A' group.
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