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Market Update

India Movers: Alstom T&D India, Ashok Leyland, Crompton, JSW Steel, TCS

Author: Mukesh Buch
Last Update: 12:47 PM ET March 19 2014

6:00 PM Mumbai Alstom T&D India secured contract for 20.1 million from Power Grid Corp of India. Ashok Leyland sold its stake worth Rs 207 crore of IndusInd Bank. Crompton Greaves won a contract in Paraguay. JSW Steel February production climbed 10%. TCS forecast weak fiscal outlook.

The Sensex Index edged up 0.25 to close at 21,832.86. The CNX Nifty rose 7.40 to close at 6,524.05.

Gainers & Losers

Alstom T&D India Ltd climbed 3.2% to Rs 220 after the company secured a contract for 20.1 million or Rs.161 crore from Power Grid Corporation of India Ltd.

Ashok Leyland Limited rose 0.6% to Rs 17.60 after the company sold 50,00,000 shares worth Rs 207 crore of IndusInd Bank. Two companies are controlled by billionaire Hinduja family.

Crompton Greaves Limited increased 0.4% to Rs 154.80 after the company signed a contract with Paraguay-based Administracion Nacional de Electricidad for supply of 19 single- and three-phase transformers.

JSW Steel Limited jumped 2.6% to Rs 972.05 after the company reported crude steel production rose 10% to 9,63,000 tons in February.

Shriram City Union Finance Limited gained 0.7% to Rs 1,004.50 and the company plans to raise up to Rs 200 crore through non-convertible debentures.

Sun TV Network Ltd dropped 2.5% to Rs 379.25 after the media company signed a contract with YouTube and iTunes to facilitate the sale of Sun TV proprietary content on a pay-per-view basis.

Tata Consultancy Services Limited declined 3.8% to Rs 2,040.95 after the company said revenue growth for the quarter ending in March could be weaker than the previous quarter.

The company added domestic revenue in India is expected to decline in the current March quarter.

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