*Shares in Yash Birla group firms Zenith Brila , Birla Kennametal and Birla Power Solution surged after reports that the group planned a merger of the firms, acquisitions, investment and sale of non-core units to steamline operations and focus on textiles, autoparts, lifestyle and power. Shares in Zenith Birla was up 20 percent, Birla Kennametal 5 percent and Birla Power 5.5 percent.
* Sadbhav Engineering Ltd. extended gains after it raised the foreign portfolio limit to 49 percent of its paid-up capital. Shares in the company touched a high of 617 rupees after the news and were up 2.33 percent at 608.95 rupees.
* Drugs and chemicals maker Hikal Ltd. extended gains after it signed a mutually exclusive deal worth about 2 billion rupees with U.S.-based Alpharma Inc. to sell a veterinary bulk drug. Shares in the company were up 10.8 percent at 523.90 rupees.
* Dishman Pharmaceuticals & Chemicals Ltd. extended gains to a new high of 341.85 rupees after the drug maker said it had agreed to acquire the fine chemicals and vitamins business of the Netherlands' Solvay Pharmaceuticals BV, for an undisclosed sum. Dishman shares were trading at 338 rupees, up 3.9 percent.
* Shares of construction firm Roman Tarmat Ltd. , which rose 69 percent from its initial public offer price of 175 rupees on debut, were trading at 325 rupees on a volume of 1.6 million shares on the BSE. Brokers said there was strong demand for the stock on attractive pricing and expect it to close above 350 rupees.
* Zenith Infotech Ltd. touched a new high of 594 rupees after the company said its board would meet on July 14 to consider raising 3 billion rupees in equity or convertibles. The shares have eased to 565 rupees.
* Ankit Metal & Power Ltd. made its debut at 37.90 rupees, 5.3 percent higher than the issue price of 36 rupees. The stock was trading at 36.85 rupees at 0539 GMT.
* GMR Infrastructure Ltd. rose almost 3 percent to 767.05 rupees, after a consortium of Malaysia Airports Holdings, Turkey's Limak and the Indian firm clinched the rights to Istanbul's second airport with a 1.9 billion-euro bid.
* Top bus & truck maker Tata Motors rose 2.8 percent to 735.95 rupees after media reports quoting chairman Ratan Tata said the company could go in for initial public offering of some of its profitable subsidiaries to unlock shareholder value.
MAIN TOP THREE BY VOLUME
* Ankit Metal & Power Ltd. on 5.5 million shares
* IFCI Ltd. on 3.2 million shares
* G.V. Films on 2.2 million shares
* Reliance Natural Resources Ltd. rose 5 percent to 39.75 rupees after the firm said it would seek government approval to set up city gas distribution projects in Delhi and its adjoining towns as well as Mumbai.
* Textile firm Arvind Mills Ltd. rose 4.5 percent to 48.55 rupees on market talk of the company selling surplus land near Ahmedabad, Gujarat. Two brokers said Arvind was at an advanced stage of sealing the sale of the property. Company officials were not available for comments.
* GMR Infrastructure Ltd. rose to as much as 770 rupees after its consortium with Malaysia Airport Holdings and Turkey's Limak won the rights to build Istanbul's second airport with a 1.9-billion-euro bid. The stock was trading 3.2 percent higher at 768.60 rupees.
* Packaging materials maker Radha Madhav Corp. Ltd. extended gains to touch a high of 78.75 rupees after its April-June net profit rose nearly five-fold from a year ago to 50.25 million rupees. The stock was trading at 78 rupees, up 4 percent.
* Ahluwalia Contracts India Ltd. touched a high of 455 rupees after the company said it had secured civil construction projects worth 1.3 billion rupees in June. The shares have trimmed gains to 445 rupees, still up 3.7 percent.
* JK Tyre & Industries Ltd. was trading 2.5 percent up at 140 rupees after the company said it plans to invest 11 billion rupees in the next three years to expand capacity by 30 percent.
STOCKS THAT MOVED
* Software firm Megasoft Ltd. jumped 9.2 percent on news it would buy U.S. firm Boston Communications Group Inc. for about $65 million.
* Shares in utility Reliance Energy Ltd. closed up 2.1 percent at 625.80 rupees after the firm said on Tuesday it would spend nearly $15 billion over five years to add 15,000 megawatts of power capacity.
* Reliance Natural Resources rose 3.6 percent to 41.85 rupees, after the firm said on Tuesday it had sought government approval to set up city gas distribution projects in Delhi and its adjoining towns as well as in Mumbai.
MAIN TOP THREE BY VOLUME
* Reliance Natural Resources on 21.2 million shares
* IFCI Ltd. on 11.9 million shares
* Nagarjuna Fertilizers on 11.7 million shares
* Shares in Pyramid Saimira Theatre Ltd. extended gains after it reported a net profit of 160 million rupees in the quarter to June 2007. The shares, which touched a high of 356.75 rupees during the day, were trading 5.5 percent up at 348.10 rupees.
* Chennai Petroleum Corp. Ltd. touched a high of 310 rupees after the state-run refiner said June-quarter net profit rose 27 percent from a year earlier to 3.23 billion rupees. The shares have eased to 304 rupees, up 6.8 percent.
* KEC International Ltd. touched a high of 590 rupees after the power transmission equipment maker said it had secured two contracts in the Middle East worth 1.76 billion rupees. The stock was trading at 582 rupees, up 4.8 percent.
* Accentia Technologies Ltd. was up 2.8 percent at 147.75 rupees after the company said its board will meet on July 18 to consider a $3 million acquisition in the U.S.
STOCKS THAT MOVED
* Reliance Energy Ltd. jumped 6.8 percent to a record close of 668.50 rupees. The stock has been gaining since the utility said on Tuesday it would massively expand capacity to make it a leader in Asia's third-largest economy.
* Metal stocks such as Hindalco Industries and Tata Steel gained as investors switched into the sector after results from Infosys signalled the stronger rupee would hurt profit growth in software firms, traders said.
* GMR Infrastructure jumped to an all-time high on hopes of more contracts after its consortium with Malaysia Airport Holdings and Turky's Limak won the rights to build Istanbul's second airport. The stock closed 13.6 percent up at 951.65 rupees, and has gained 28.5 percent so far this week.
MAIN TOP THREE BY VOLUME
* Reliance Natural Resources on 24.9 million shares.
* Nagarjuna Fertilizers on 10.1 million shares.
* IFCI Ltd. on 9.7 million shares.
STOCKS THAT MOVED
* Larsen & Toubro Ltd. rose to an all-time high of 2,450 rupees during trade after the firm said it had won contracts worth 8.53 billion rupees ($211 million). It closed up 1 percent up at 2,400 rupees.
* Power equipment manufacturer Bharat Heavy Electricals Ltd. rose to a lifetime peak of 1,715 rupees, before closing up 2.6 percent at 1,683.70. Citigroup has raised its target price on the stock to 1,923 rupees from 1,672 earlier. HSBC Securities had upgraded the stock to "overweight" from "neutral" and raised its target to 1,880 rupees.
MAIN TOP THREE BY VOLUME
* Reliance Natural Resources on 9.8 million shares
* IFCI Ltd. on 9.3 million shares
* Steel Authority of India on 6.4 million shares
* Textile exporters Gokaldas Exports Ltd. , Bombay Rayon Fashions Ltd. and Himatsingka Seide Ltd. are up 2.7-6.1 percent after the federal government announced a series of measures, including interest rate concessions, to help exporters.
* Birla Kennametal fell 5 percent, its maximum daily limit, after the Yash Birla group bought out the entire shareholding of joint venture (JV) partner, Kennametal , to end the agreement. The stock was at 343.95 rupees.
* Textiles firm Pearl Global Ltd. rose to its maximum daily limit of 20 percent after its board approved a collaboration with Ansal Properties and Infrastruture Ltd. to develop land in Gurgoan, near Delhi. The shares were at 87.70 rupees.
* Great Offshore Ltd. rose to as high as 850 rupees after the company said it had received a 10-billion-rupee contract from state-owned Oil and Natural Gas Corp. The stock was trading at 833 rupees, up 3.6 percent.
* DCM Shriram Consolidated Ltd. rose by its maximum daily limit of 5 percent to 97.15 rupees after newspaper reports that it was close to selling 112 acres land in West Delhi to DLF Ltd.. Company officials were not immediately available for comment.
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