Mahindra & Mahindra rose over 2.5 percent after the vehicles and tractor maker said on Wednesday it would buy a 55.2 percent stake in Reva Electric Car Company.
Shares in the utility vehicle maker, worth nearly $7.1 billion, pares most of the gaines and ended 0.6 percent higher at 519.45 rupees with volumes of 0.3 million shares.
The BSE Metal index dropped 5.1 percent on Tuesday, the lowest among the sectoral indices.
The BSE Sensex also dropped to its lowest in more than three months as renewed fears over Europe’s debt woes triggered worries foreign portfolio investors will step up their withdrawals.
Shares in companies controlled by the billionaire Ambani brothers were among the big gainers on Monday after the two moved towards resolving a long-running strife.
The BSE Sensex ended 0.15 pct higher led by Reliance Industries which gained 2.5 percent at 1021 rupees.
The BSE Oil & Gas Index ended 1.79 percent up in a broader market that closed 0.68 percent higher at 16519.
Lead gainers in the index were energy explorer ONGC, which ended 8.7 percent higher at 1118 rupees, and BPCL which rose 2.8 percent, after the government more than doubled natural gas prices on Wednesday.
Shares in ABan Offshore lost almost a fifth of their value on Friday after its gas exploration rig sank in the Carribean. The counter ended 18.2 percent lower at 831 rupees, with volumes of over 3.9 million shares.
An analyst said the rig might hurt revenues of the company. “This was one of the best assets for the company with a day rate of $385,000, which is the second highest revenue for the company in day rate terms,” Mehul Thanawala, Vice President (Research) at JM Financial, told Reuters.
The BSE Realty Index ended 4.3 percent lower while the broader Index ended 1.2 percent down on Friday leading to the worst weekly fall in six months.
Stocks which declined include Sobha Developers which ended 6.2 percent down, DLF 4.4 percent, HDIL 5.1 percent and Unitech which slipped 4.9 percent.
The BSE Auto Index gained 1.5 percent on Friday with Hero Honda and Tata Motors posting gains of over 3 percent.
Ashok Leyland was the star performer among index counters with gains of over 8 percent. The company said March quarter net profit more than quadrupled on higher sales, but warned of supply constraints and margin pressure in the future.
It was a good day for banking counters with the Bankex gaining 1.6 percent and ending as the second best sectoral performer.
Financial counters rose on hopes that the economy, expected to expand 8.5 percent in the fiscal year beginning April 1, will boost demand for loans.
The BSE realty index ended 3.5 percent lower while the broader index dropped 1.7 percent to 17,380 points.
Some of the other losers were Indiabulls Real Estate, which dropped 6.3 percent, Unitech which ended 3.9 percent lower, and HDIL which slipped 3.7 percent.
Shares of ABG Shipyard and Bharti Shipyard gained on Tuesday after a news channel reported yesterday that ABG would sell its 3 percent stake in Great Offshore.
The report said ABG was close to selling a 3 per cent stake in Great Offshore to Bharati in a price range of Rs 440-450 per share, which would fetch ABG Rs 45-50 crore.