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Market Update

India’s ONGC and Mexico’s Pemex to Explore Jointly

Author: Mukesh Buch
Last Update: 9:55 AM ET September 29 2014

6:00 PM Mumbai – MAN Industries secured orders worth about Rs 550 crore. Mahindra Holidays plans to invest up to Rs. 500 crore for expansion. NTPC received syndicated loan of $250 million. Valecha Engineering divested its three road assets worth Rs 309 crore.

The Sensex Index slid 29.21 to close at 26,597.11 The CNX Nifty fell 9.95 to 7,958.90.

Gainers & Losers

IDBI Bank Limited fell 0.2% to Rs 62.55 after the bank received board approval to increased capital raising limit to Rs 15,000 crore from the previous Rs 4,000 limit.

MAN Industries India Limited climbed 5.8% to Rs 60.90 after the company secured orders worth about Rs 550 crore from domestic and international customers for the supply of pipes for oil and gas sector projects.

Mahindra Holidays & Resorts India Limited soared 7.4% to Rs 295.85 after the company plans to invest up to Rs. 500 crore in next 18 months for expansion.

NTPC Limited decreased 0.6% to Rs 138.55 after the company signed a syndicated term loan of $250 million from Mizuho Bank.

Oil and Natural Gas Corporation Limited declined 1.1% to Rs 407.55 after the company’s subsidiary signed an agreement with Mexico-based Pemex to jointly explore fields.

Pricol Limited jumped 4.1% to Rs 60.50 after the automotive component maker agreed to sell its automotive speedo cable business to Suprajit Engineering.

Valecha Engineering Limited surged 9.9% to Rs 67.50 after the company’s board approved the sale of three road assets in Madhya Pradesh and Gujarat for about Rs 309 crore.

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