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Market Update

India Movers: ACC, Alstom, Airtel, HCL, Magma Fincorp, Sobha Developers

Author: Mukesh Buch
Last Update: 9:07 AM ET July 04 2013

6:00 PM Mumbai Switzerland based Holcim plans to merge its ACC and Ambuja Cements. Airtel agreed to buy stake in Qualcomm''s 4G broadband project.The central government sold its 4% stake in HCL. Sobha Developers first quarter sales climbed 10%.

The Sensex Index declined 286.06 or 1.5% to close at 19,177.76 The CNX Nifty dropped 86.65 to close at 5,770.90.

Gainers & Losers

Ambuja Cements Ltd increased 0.8% to Rs 189.75 after the Switzerland based Holcim Ltd plans to restructure of Indian operations including merger of ACC and Ambuja Cements.

Alstom India Ltd rose 1.4% to Rs 339.60 after the company secured contract from Bhel to supply components and services for super thermal power project in Rajasthan.

Bharti Airtel Limited gained 2.4% to Rs 301.25 after the company agreed to buy 49% stake in Qualcomm''s India 4G broadband project.

The company also subscribes an additional 2% equity share capital in all the four India BWA entities of Qualcomm AP.

Hindustan Copper Limited dropped 3.3% to Rs 68.10 after the government sold 4.01% stake today through offer for sale by stock exchange mechanism.

Magma Fincorp, Ltd slipped 2.3% to Rs 90.70 after the company plans to increase disbursement of retail loans by 2% in Rajasthan during the year.

Piramal Enterprises Limited fell 0.1% to Rs 576.05 after the company agreed to purchase 10% stake of Shriram Capital.

Sobha Developers Limited gained 2.4% to Rs 343.35 after the company said in the first quarter ending in June new sales climbed 10.2% to 0.92 million square feet.

United Spirits Limited grew 1.7% to Rs 2,556.25 after the UK based Diageo plc increased its stake to over 27%.

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