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Market Update

GMR Infra, Bank of Baroda Complete Offering; Infosys Net Drops 11%

Author: Mukesh Buch
Last Update: 9:21 AM ET July 09 2014

6:00 PM Mumbai – Bank of Baroda issued fixed rate senior unsecured notes of $250 million. GMR Infra raised Rs 1,477 crore through a secondary offering. Infosys net profit expected to decline 11%. Indusind Bank profit surged 26%. SpiceJet offered one million seats at a deep discount price.

The Sensex Index slipped 137.30 or 0.5% to close at 25,444.81 The CNX Nifty fell 38.20 to 7,585.

Gainers & Losers

Bank of Baroda gained 0.4% to Rs 834.40 after the bank issued fixed rate senior unsecured notes of $250 million, maturing on July 23, 2019.

GMR Infrastructure Ltd slumped 2.2% to Rs 28.20 after the company raised Rs 1,477 crore by selling shares at Rs 31.50 per share to qualified institutional investors.

Infosys Ltd fell 0.9% to Rs 3,304.30 after the company’s net profit for the fourth-quarter is expected to decline 11.3% to Rs 2,653 crore from Rs 2,992 crore a year ago.

Indusind Bank Ltd slipped 1.6% to Rs 543.40 after net profit in the first-quarter surged 25.7% to Rs 421.06 crore and total revenue climbed 20.6% to Rs 2,873.68 crore.

As on June, ratio of gross non-performing assets to gross advances jumped to 1.11% from 1.06% a year ago.

OnMobile Global Limited rose 0.1% to Rs 35.20 after the company signed an agreement with Bangladesh –based Robi Axiata to distribute ring-back tone and interactive voice response solutions.

Sadbhav Engineering Limited jumped 2.8% to Rs 194.45 after the company secured new project worth Rs 250 crore from South West Mining Ltd of Rajasthan.

SpiceJet Limited dropped 2.4% to Rs 18.40 after the low-cost airline offered one million seats at deep discount price of Rs 999 for one way fares.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc