6:00 PM Mumbai – Amtek Auto offer to acquire 26% stakes in JMT Auto. HCL wins a government panel approval stake to sell 4.01%. Government refused foreign direct investment proposal in MCX. SAIL posted record steel production in first quarter.
The Sensex Index declined 286.06 or 1.5% to close at 19,177.76 The CNX Nifty dropped 86.65 to close at 5,770.90.
Gainers & Losers
Amtek Auto Limited
declined 3.4% to Rs 69.10 after the company made an open offer for stake of 26% or Rs 149 per share to Kolkata based JMT Auto.
Jamshedpur based JMT Auto with Rs 300 crore and is one of the leading auto component makers in the eastern region.
Deepak Fertilisers and Petrochemicals Corporation Limited
slipped 1.3% to Rs 93.50 and the company agreed to buy 20% stake in Mangalore Chemicals & Fertilizers Ltd.
Gitanjali Gems Limited
plummeted 5% to Rs 202.85 after the Macquarie Finance (India) Pvt. Ltd. acquired 5.43% stake for Rs 106 crore.
Hindustan Copper Limited
dropped 3.1% to Rs 70.40 after the panel of ministers on disinvestment approved stake sale of 4.01% that could fetch between Rs 240 crore and Rs 250 crore to the government.
based in India secured technology outsourcing contract worth Rs 400 crore from public sector lender Corporation Bank.
Multi Commodity Exchange of India Limited
declined 3.8% to Rs 750.90 after the government refused the foreign direct investment proposal in the company.
Oil and Natural Gas Corporation
dropped 3.3% to Rs 311.30 after the oil and gas explorer subsidiary obtains the right to buy contract of 8.4% stake of ConocoPhillips in North Caspian Sea production sharing agreement said by Kazakhstan.
Oil India Limited
decreased 2.1% to Rs 557.25 after the company plans to invest Rs 12,000 crore in the North East on projects for exploration expansion and diversification of business up to 2017.
The company also in talks with Irish exploration firm Petroceltic International Plc to acquire 20% in an Algerian asset of the company for $170 million.
Steel Authority of India Limited
fell 4.7% to Rs 49.70 after the company posted record steel production of first quarter, 6% increased to 3.2 million metric tones compared to last year.
Tata Power Company Limited
declined 4.9% to Rs 82.50 after the company arranged financing for the 95 mega watt Tsitsikamma wind energy project worth Rs 1,750 crore in South Africa.
Vodafone India Limited
, the mobile company offered to pay Rs 4,000 crore for retaining 2G spectrum in three key cities after the expiry of its licenses in 2014.