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Market Update

India Movers: 3M India, Manappuram Finance, ONGC, SAIL, SBI, V Mart

Author: Mukesh Buch
Last Update: 8:56 AM ET March 20 2013

6:00 PM Mumbai 3M India offer for sell of equity shares. Manappuram Finance said fourth quarter profits may drop. ONGC sign agreement to set up oil terminal costing to $750 million. SBI allots 12.99 million shares to the government. Government approved 10.8% stake sale of SAIL on March 22.

The Sensex Index slipped 123.91 or 0.6% to close at 18,884.19 The CNX Nifty decreased 51.55 to close at 5,694.40.

Gainers & Losers

3M India Limited slid 0.6% to Rs 3,420 after the company proposed to sell 113,198 equity shares with par value of Rs.10 each on March 21.

Globus Spirits Limited soared 4.4% to Rs 109.25 after the board approved allotment of cumulative compulsorily convertible shares and warrants to raise $13 million.

Manappuram Finance, Ltd. plunged 14.2% to Rs 23.75 after the company said fourth quarter profits may drop on the less than estimated revenue on gold loan portfolios.

Prime Focus, Ltd slipped 0.5% to Rs 41.50 after the film editing company plans to invest $3 million to expand to new markets in Hong Kong, China, Macau and Taiwan.

Oil and Natural Gas Corporation Limited dropped 2.8% to Rs 301.15 after signing an agreement for feasibility of liquid gas import terminal set up at Mangalore costing $500 million to $750 million.

The Mysore Paper Mills Limited rose 0.3% to Rs 4 after the company reported fourth quarter net loss narrowed to Rs 11.57 crore.

Steel Authority of India Limited fell 0.6% to Rs 65.05 after the government approved sale of 10.8% stake in the company through share auction on March 22.

State Bank of India declined 3.9% to Rs 2,117.75 after the bank alloted 12.99 million shares to the government and received Rs 3,004 crore.

Sadbhav Engineering Limited slipped 1.6% to Rs 114 after the company won road construction projects worth Rs 382 crore from National Highways Authority of India.

V Mart Retail Limited dropped 3.6% to Rs 170.65 after net profit in the fourth quarter surged 52.6% to Rs 10.30 crore.

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