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Market Update

India Movers: Adani Power, Airtel, Bajaj Finance, IOB, L&T, MTNL

Author: Mukesh Buch
Last Update: 8:59 AM ET March 21 2013

6:00 PM Mumbai – Adani Power plans to issue shares to promoters on preferential basis. Indian Overseas Bank approved additional stake sales to central government. L&T won new orders valued Rs 2,080 crore.

The Sensex Index decreased 91.32 or 0.5% to close at 18,792.87 The CNX Nifty slid 35.65 to close at 5,658.75.

Gainers & Losers

Adani Power Limited declined 6.5% to Rs 41.20 after the company plans to issue shares to promoters on preferential basis.

Balmer Lawrie & Co. Ltd climbed 5.8% to Rs 612.15 after the company’s board schedule to meet on March 26, to consider bonus share issues.

Bajaj Finance Limited slipped 1.2% to Rs 1,239 after the company allotted 2,05,000 shares to the trustees under employee stock option.

Bharti Airtel Limited soared 6% to Rs 298 after its promoter Bharti Telecom Limited acquired 8,78,514 shares of the company worth around Rs 26.75 crore.

ITC Limited fell 0.8% to Rs 304.95 after the Maharashtra government raised taxes on cigarettes from 20% to 25%.

Indian Overseas Bank slumped 2% to Rs 66.25 after the shareholders approved to allot 12.71 crore equity shares to the Government of India.

Larsen & Toubro Limited dropped 2.8% to Rs 1,396.60 after the construction unit won orders valued Rs 2,080 crore in February and March.

Moser Baer India Limited gained 3% to Rs 4.79 after the company sought shareholders approval to issue 4 crore shares to its promoter as part of corporate debt restructuring.

Mahanagar Telephone Nigam Limited declined 4.2% to Rs 18.05 after the company board scheduled to meet on March 25 to discuss sovereign guarantee bonds to raise Rs 3,000 crore.

Sadbhav Engineering Limited slipped 1.6% to Rs 114 after the company won road projects in Haryana worth Rs 1,210 crore from National Highways Authority of India.

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