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Market Update

India Movers: Adani Power, BS, Crompton, Sobha, SRF, Steel Strips


Author: Mukesh Buch
ticker.com
Last Update: 9:20 AM ET April 04 2014

6:00 PM Mumbai – Adani Power increased its power generation capacity to become the largest private power generator. BS Ltd won orders of Rs722 crore from electric utilities. Crompton secured news export order worth $29 million. Sobha Developers sales in fourth-quarter surged 20%.

The Sensex Index dropped 149.57 or 0.7% to close at 22,359.50. The CNX Nifty dropped 41.75 to close at 6,694.35.

Gainers & Losers

Adani Power Limited soared 4.6% to Rs 54.05 after the company’s overall power generation capacity increased to 8,620 megawatt. And the company claimed to be the largest private power producer in the nation.

BS Limited surged 13.6% to Rs 14.25 after the company won several orders to the tune of Rs 722 crore from power utilities.

Crompton Greaves Limited rose 1% to Rs 156.80 after the company secured news order worth $29 million to supply of three power transformers to install in Java and Sumatra islands.

Sobha Developers Ltd gained 1.2% to Rs 383.10 after the home builder said total sales in the fourth-quarter ending in March 2014 surged 20.5% to Rs 605.10 crore. The company also estimated higher sales in the current fiscal year.

SRF Limited increased 1.4% to Rs 351.20 after the company said five projects at the company’s chemical complex at Dahej, Gujarat have been commissioned and capitalized in March.

Steel Strips Wheels Ltd climbed 3.3% to Rs 152.75 after the company said it has secured patent on disc forming process in India.

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