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Market Update

India Movers: Amtek India, Infosys, Polaris Financial, SBI, UBI, Zensar

Author: Mukesh Buch
Last Update: 1:05 PM ET March 18 2014

6:00 PM Mumbai Amtek India acquired Germany-based Kuepper Group. Polaris Financial decided to spin off its products business. Zensar won multimillion dollar deals in the United States and Europe.

The Sensex Index rose 22.81 to close at 21,832.61. The CNX Nifty gained 12.45 to close at 6,516.65.

Gainers & Losers

Amtek India Ltd surged 19.9% to Rs 77.50 after the company acquired Germany-based Kuepper Group for an undisclosed amount through its wholly-owned subsidiary Amtek Kuepper GmBH.

Infosys Ltd slipped 1.2% to Rs 3,349.25 and the company secured long term application development service contracts from Volvo Car Corporation.

Polaris Financial Technology Ltd soared 11.6% to Rs 152.80 after the company decided to spin off its products business.

State Bank of India jumped 2.7% to Rs 1,698.40 after the media report that the bank plans to sell approx Rs 5,000 crore of its Rs 67,799 crore non-performing assets to asset reconstruction companies before the end of the month.

The state-run bank had reported 5.73% of its assets as bad loans in the December quarter.

United Bank of India climbed 3.1% to Rs 27.85 after the bank decided to reduce the base rate from 10.50% to 10.25% from 24 March.

Zensar Technologies Limited gained 3.4% to Rs 399.15 after the company won multimillion dollar deals in the United States and Europe.

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