India Hot Stocks: Religare Ent up as rights terms reconsidered

(Adds Religare Enterprises)
MUMBAI, March 23 (Reuters) - The following stocks were on the
move at the BSE on Monday.
At 11:18 a.m., the benchmark 30-share BSE index <.BSESN> was
up 2.39 percent at 9,180.92 points.
The 50-share National Stock Exchange Index <.NSEI> was up
2.48 percent at 2,876.60 points.
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* Shares in Religare Enterprises rose as much as 20
percent after the financial services firm said its board will
meeet on March 25 to reconsider the terms of a proposed rights
issue. Share were up 12 percent at 362.90 rupees.
(11.17 a.m.)
(jasudha.kirpalani@thomsonreuters.com)
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* Subhash Projects & Marketing Ltd extended gains
to hit an intra-day high of 53.90 rupees, or up 15.3 percent,
after the company said it won a contract worth 4.92 billion
rupees from a municipal unit in Thane, near Mumbai to build and
operate an underground sewerage system. The shares have eased to
52.70 rupees, up 12.7 percent.
(10:38 a.m.)
(bharghavi.nagaraju@thomsonreuters.com)
-----------------------------------------------
* Hikal Ltd rose more than 13 percent on low volume
after the maker of chemical and pharmaceutical products said its
board will meet on March 25 to consider merging its wholly owned
unit, Hikal Pharmaceuticals Ltd, with itself.
The shares are trading 11.9 percent higher at 176 rupees on
volume of 4,150 shares.
(10:26 a.m.)
(bharghavi.nagaraju@thomsonreuters.com)
-----------------------------------------------
* Shares in Tata Motors rose as much as 8 percent
in early trade ahead of the launch of the Nano, the world's
cheapest car at less than $2,000, on Monday.
Shares in the auto maker were up 5 percent at 168.95 rupees.
(10.05 a.m.)
(jasudha.kirpalani@thomsonreuters.com)
---------------------------------------------
* Ballarpur Industries rose after a block deal of
16 million shares or 2.9 percent of its equity on the BSE at
16.10 rupees a share.
Shares were up 10.96 percent at 16.40 rupees.
(9:59 a.m.)
(aniruddha.basu@thomsonreuters.com)
---------------------------------------
(Editing by Sunil Nair)
((jasudha.kirpalani@thomsonreuters.com; +91 22 6636 9028;
Reuters Messaging: jasudha.kirpalani.reuters.com@reuters.net ))
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Keywords: MARKETS INDIA HOTSTOCKS/

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