TVS Motor Company leads gainers in 'A' group

TVS Motors gained 12.98% to Rs 72.70 and it topped gainers in the BSE's A group shares.

TVS Motor, India's third-largest motorbike maker, plans to take libel action against Bajaj Auto after the latter accused the former of breaching patented rights on engine technology. Recently,TVS unveiled seven new products, including a new 125 cc bike, Flame, which Bajaj Auto, India's second-largest motorbike maker, said used the same Digital Twin Spark (DTS) technology, that it had developed and patented in 2002.

Escorts rose 6.2% to Rs 108.75. It was the second biggest gainer in A group.

Escorts reported a net loss of Rs 6.24 crore in Q3 June 2007 as against net profit of Rs 1.57 crore in Q3 June 2006. Sales rose 7.73% to Rs 515.50 crore in Q3 June 2007 over Q3 June 2006. The results were announced on 31 July 2007.

Bongaigaon Refinery & Petrochemicals (BRPL) rose 6.18% to Rs 60.10. It was the third biggest gainer in A group.

National Stock Exchange said after trading hours on Friday, 7 September 2007, fresh positions cannot be created in the derivatives contracts of Bongaigaon Refinery & Petrochemicals as the open interest has crossed 95% of the limit

Chennai Petroleum Corporation rose 5.27% to Rs 284.85. It was the fourth biggest gainer in A group. Net profit of Chennai Petroleum Corporation rose 26.93% to Rs 323.15 crore on 2.61% decline in sales to Rs 6296.61 crore in Q1 June 2007 over Q1 June 2006. The results were announced on 11 July 2007.

Reliance Petroleum rose 4.48% to Rs 128.35 . It was the fifth biggest gainer in A group.

On 16 July 2007, Reliance Petroleum (RPL) said it completed 65% of the project work for the refinery complex, which is coming up coming up in a special economic zone (SEZ) at Jamnagar in Gujarat .The project was commenced 19 months ago. The refinery is well on track for completion by December 2008, RPL said.