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Market Update

India Movers: Alstom India, IDBI, IRB Infra, NTPC

Author: Mukesh Buch
Last Update: 9:00 AM ET June 09 2014

6:00 PM Mumbai – IDBI Bank plans to raise $680 million through a public offering. IRB Infra executed an agreement for a four-lane highway project. NTPC invited bids for thermal project of Rs 7,000 crore.

The Sensex Index jumped 183.75 or 0.7% to close at 25,580.21 The CNX Nifty gained 71.20 to 7,654.60.

Gainers & Losers

Alstom India Ltd increased 1.2% to Rs 512.90 after the company agreed to sell its air pre-heater making unit to OAK India Pvt. Ltd an entity of European investment firm Triton for Rs.51.3 crore in cash.

IDBI Bank Ltd rose 0.3% to Rs 112.45 after the bank plans to raise equity capital up to Rs 4,000 crore or $680 million through qualified institutional placement to cover for rising bad loans.

IRB Infrastructure Developers Ltd climbed 2.5% to Rs 219.35 after the company’s subsidiary has executed an agreement with National Highway Authority of India for a four-lane highway project.

Indowind Energy Limited soared 4.9% to Rs 6.79 after net profit in the fourth-quarter rose 5.9% to Rs 0.18 crore and revenue surged 84.6% to Rs 2.99 crore.

Maruti Suzuki India Ltd jumped 1.7% to Rs 2,434 after the company agreed to let parent Suzuki Motor Corporation own a newly built plant in Gujarat. The company expects to save about Rs 10,500 crore.

NTPC Limited increased 0.1% to Rs 165.60 after the company invited bids to construct 1,320 mega watts thermal project Madhya Pradesh valued Rs 7,000 crore.

Reliance Communications Ltd gained 1.5% to Rs 153.50 after the company launched One India, One Rate Plans, a free national roaming offer for all its subscribers.

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