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Market Update

India Movers: Aban Offshore, Hindalco, ICVL, Jain Irrigation, NMDC

Author: Mukesh Buch
Last Update: 9:13 AM ET July 04 2014

6:00 PM Mumbai Aban Offshore raised $125 million. Hindalco plans to raise $500 million to repay maturing debt. ICVL intends to buy three coal mines in Mozambique from Rio Tinto. Siemens sold a land parcel in Bangalore for Rs 345 crore.

The Sensex Index jumped 138.31 or 0.5% to close at 25,962.06 The CNX Nifty gained 36.80 to 7,751.60. For the week, Sensex climbed 3.4%.

Gainers & Losers

Amtek Auto Ltd declined 3.4% to Rs 242.20 after Citigroup sold 2.07 million shares worth Rs 53 crore at a price of Rs 255.93 per share in open market transactions.

Aban Offshore Ltd jumped 2.4% to Rs 827.40 after the company raised $125 million through qualified institutional share placement.

Hindalco Industries Ltd slipped 0.4% to Rs 173.05 after the plans to raised $500 million or Rs 3,000 crore through the qualified institutional placement to repay maturing debt.

ICVL Steels Ltd closed unchanged at Rs 5.44 and a consortium plans to buy three coal mines in Mozambique from Rio Tinto for $200 million.

The company has targeted to acquire a total of 500 million tons of metallurgical coal reserves by 2020.

Jain Irrigation Systems Limited climbed 4.9% to Rs 127.35 after the company secured order worth about Rs 100 crore from Himachal Pradesh.

NMDC Limited fell 0.5% to Rs 183.30 after the company said total iron ore production in first-quarter climbed 13.5% and sales surged 16.7%.

Siemens Ltd slid 0.6% to Rs 982.75 after the company sold a land parcel in Bangalore to Prestige City Properties for Rs 345 crore.

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