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Market Update

India Movers: Airtel, Ramco Systems, TFCI, Tata Steel, Wipro

Author: Mukesh Buch
Last Update: 9:29 AM ET June 20 2013

6:00 PM Mumbai –Airtel plans to invest $125 million in Gabon of Africa. TFCI board approved proposal to seek licence to set up a bank. Tata Steel signed five-year contract worth £45 million. Wipro won outsourcing contract worth $500 million from Citigroup.

The Sensex Index plummeted 526.41 or 2.7% to close at 18,719.29 The CNX Nifty declined 166.35 or 2.9% to close at 5,655.90.

Gainers & Losers

Bharti Airtel Limited slumped 3.7% to Rs 288.60 after the telecom service provider plans to invest additional $125 million in African country Gabon.

Glenmark Pharmaceuticals Limited dropped 3.1% to Rs 553.35 after its U.S. generic division received final approval from the U.S. Food and Drug Administration to sell riluzole tablets in 50 mg.

Neyveli Lignite Corporation Limited slipped 3.4% to Rs 57.70 and the Cabinet will meet tomorrow for 5% stake sale valued Rs 450 crore.

Ramco Systems Limited rose 0.4% to Rs 80 after the company in partnership with Eurocopter to offer cloud-based maintenance information systems for helicopters.

Tourism Finance Corporation of India Limited surged 11.9% to Rs 24.90 after the board approved proposal to seek licence to set up a bank.

Tata Teleservices (Maharashtra) Limited soared 9.9% to Rs 7.30 after the board propose to issue bonus shares to non-promoters.

Tata Steel Limited plunged 6.3% to Rs 272.40 after it signed five-year contract with Safran Group to supply aerospace steels.

The initial contract value is above £9 million per year.

Wipro Limited gained 1.3% to Rs 347.45 after the company won outsourcing contract of Rs 2,900 crore from Citigroup.

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