Notable Industrial Goods Stocks Gainers (IGC, CMI, HXL)

India Globalization Capital, Inc. (AMEX:IGC)  soared 62.79% to $2.10 after announced that it has signed a five year contract with Chinese steel manufacturer, to begin supplying iron ore. The contract is valued at approximately $160 million. Under the agreement, IGC will deliver 63.5% ferrous content iron ore, initially 40,000 Metric Tons per ship load, building up to 80,000 MT per shipload up to an aggregate of 1,600,000 MT over the life of the contract. The iron ore will be supplied from mines in India and shipped out of the Visakhapatnam port, off the eastern coast of India and out of Karwar on the west coast.   The stock today also touched a new 52 week high at $2.69. 

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Cummins Inc. (NYSE:CMI) surged 4.64% to $73.58 as the first-quarter profit surged more than expected on higher margins as the engine maker also benefited from growth in China, India and Brazil. The company posted a profit of $149 million, or 75 cents a share, up from $7 million, or 4 cents, a year earlier. Revenue grew 1.6% to $2.48 billion. Analysts surveyed by Thomson Reuters expected a profit of 35 cents on revenue of $2.42 billion. Gross margin climbed to 24.3% from 18.2%..   The stock today also touched a new 52 week high at $76.35. 

Hexcel Corporation (NYSE:HXL) spurted 9.84% to $16.09.  The stock today also touched a new 52 week high at $16.62.  The stock has surged 22% in this year.  

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