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Orchid Chemicals dives

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INDIA

Shares in Orchid Chemicals hit a 52-week high in early trades on the sale of its key generic injectable business but ended 10.35 percent lower at 197.85 rupees on Wednesday after growth concerns sparked a sell-off.

Orchid Chemicals remained one of the top traded stocks on BSE ending with a volume of over 9.5 million shares.

Late on Tuesday, U.S.-based Hospira Inc said it would buy Orchid Chemicals & Pharmaceuticals Ltd’s generic injectable business for $400 million, in a deal that would expand its global reach and position as the market leader.

Orchid Chemicals expects the sale of its generic injectable drug to add 7-8 rupees a share to its earnings in FY11, Managing Director K Raghavendra Rao said.

Banks slide

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KASHMIR-PROTESTS/

The BSE banking index ended 2.9 percent lower on Tuesday, making it the top sectoral loser of the day.

Concerns over higher-than-expected inflation for November triggered worries the Reserve Bank of India may start tightening liquidity soon.

ACC shares jump over 5 pct

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Cement manufacturers ACC and Grasim Industries piped other Sensex stalwarts on Monday to top the list of benchmark gainers.

ACC gained 5.3 percent and ended as the top Sensex gainer, followed by Grasim Industries which rose 2.8 percent.

Cox and Kings zooms on mkt debut

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INDIA-BUDGET/

Shares of travel operator Cox and Kings (India) Ltd closed nearly 30 percent up on Friday after listing about 8 percent lower than its issue price of 330 rupees.

Shares in the counter rose to an intra-day high of 433.45 rupees before closing at 426.05 with volumes of 16.9 million shares.

Telecom shares rise

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TELECOMS INDIA INVESTMENT

Shares of telecom firms rose on Thursday after the RBI allowed telecom firms to access oversees markets to fund their bids for 3G spectrum.

The big names that led the rise were Bharti Airtel (up 3.4 percent to 342.35 rupees), Reliance Communications (up 2.1 percent higher at 185.70 rupees) and IDEA (up 4.1 percent higher at 60.20 rupees)

Metal index ends as top sectoral loser

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The BSE Metal index dropped 2 percent on Wednesday and was the top sectoral loser, with all components ending in the red.

Top counters like Tata Steel and Hindalco were the top losers in the metal index and the Sensex.

Realty stocks shine as markets soar

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Realty stocks posted smart gains on Tuesday with the realty index gaining 3.2 percent and ending as the top sectoral performer.

The Sensex ended nearly 250 points higher at 17,228.

Ansal Properties was the star performer among realty index stocks with a jump of over 12 percent, followed by Parsvnath which gained a bit over 7 percent.

Reliance Industries drops 3 percent

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Shares in India’s top listed firm, Reliance Industries, plunged 3 percent on Monday, dragging the benchmark lower by 118 points.

The shares of the energy major, which recently began trading ex-bonus, closed 33 rupees lower at 1055.65.

Auto stocks slip

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The BSE Auto index fell nearly 1.5 percent on Friday with stocks like Maruti Suzuki and Mahindra & Mahindra falling.

The auto index ended as the worst sectoral performer, with Exide Industries leading the losers pack with a near 5 percent decline.

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