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Market Update

India Movers: Adani Power, Escorts, L&T, RCom, SRF

Author: Mukesh Buch
Last Update: 9:33 AM ET April 03 2013

6:00 PM Mumbai – Ashok Leyland March sales slid 2%. Adani Power soared 9% after the electricity commission approved a temporary price hike to compensate for higher imported coal prices. L&T won order for Abu Dhabi Airport. RCom rose after network sharing deal worth Rs 1,200 crore with Reliance Jio Infocomm.

The Sensex Index declined 239.31 or 1.3% to close at 18,801.64 The CNX Nifty dropped 73.20 or 1.3% to close at 5,672.90.

Gainers & Losers

Ashok Leyland Limited fell 0.7% to Rs 22.30 after the company reported March sales slid 2% to 14,020 units.

Adani Power Limited surged 8.8% to Rs 47.65 after the Central Electricity Regulatory Commission approved temporary compensation package for current tariff in imported coal prices.

Central Bank of India declined 2.1% to Rs 69.30 after the bank recorded total business of Rs. 4,02,306 crore in as on March 31.

Escorts Limited rose 0.2% to Rs 55 after the company reported tractor sales in March increased 4.6% to 6,159 units.

HCL Technologies Limited slipped 1.9% to Rs 780.35 and the struck a partnership with the US based Carolina New Schools to create online technology hub for schools and businesses.

Infosys Limited fell 0.2% to Rs 2,964 after the company signed a five-year agreement with European energy trading house RWE Supply & Trading.

Larsen & Toubro Limited declined 3% to Rs 1,379.55 after the company’s construction division secured order worth AED 943.11 millions for Abu Dhabi Airport.

Mahindra Lifespace Developers Limited slid 0.1% to Rs 394.75 after the company plan to issue secured redeemable non-convertible debentures to raised Rs 500 crore.

Redington (India) Limited dropped 3.7% to Rs 78 after the tax department demanded Rs 138 crore in additional taxes.

Reliance Communications Limited gained 1.9% to Rs 64.50 after it signed a deal with Reliance Jio Infocomm worth Rs 1,200 crore for right to use nationwide inter-city fiber optic network.

Ramky Infrastructure Limited climbed 3.5% to Rs 66.65 after the company won orders worth Rs 387 crore for various projects in four states.

SRF Limited increased 1.4% to Rs 182.30 after the company commissioned multipurpose chemical plant in Gujarat at an aggregate cost of Rs 173.62 crore.

Sesa Goa Limited dropped 2.5% to Rs 152.65 after the Bombay High Court approved the schemes of amalgamation and arrangement for creating of Sesa Sterlite.

Valecha Engineering Limited fell 0.2% to Rs 51.50 after the company secured road project worth Rs 141 crore in Uttar Pradesh.

Welspun Corp Limited jumped 3.1% to Rs 57.60 after the Japan based Nippon Investment and Finance Co raised stake in the company to approx 2.1%.

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