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Market Update

India Movers: Apollo Hospitals, Coal India, HCL, IPCA Lab, ONGC

Author: Mukesh Buch
Last Update: 9:37 AM ET September 05 2013

6:00 PM Mumbai – KKR led consortium is poised to invest as much as Rs 600 crore in Apollo Hospitals. Coal India signed supply contract with sixteen power projects. HCL secured contract from U.S.-based Direct Energy. ONGC endure to raise debt of $2.64 billion deal with Anadarko.

The Sensex Index climbed 412.21 or 2.2% to close at 18,979.76 The CNX Nifty jumped 144.85 or 2.7% to close at 5,592.95.

Gainers & Losers

Apollo Hospitals Enterprise, Ltd. slid 0.4% to Rs 848.55 after the consortium lead by Kohlberg Kravis Roberts is closed to a deal which could invest as much as Rs 600 crore.

Apollo Tyres Ltd rose 0.2% to Rs 65.10 and Swiss Finance Corporation (Mauritius) buys 5.53 million shares for Rs 36 crore.

Coal India Limited climbed 7% to Rs 283.45 and the state controlled coal miner signed agreements to supply coal to sixteen private power projects worth Rs 84,500 crore with a generation capacity of over 14,000 mega watts

HCL Technologies Limited dropped 2.2% to Rs 1,016.95 and the secured contract from Direct Energy, a North American energy services firm, to implement and manage residential billing and customer care operations.

IPCA Laboratories Limited increased 1.6% to Rs 711 after the U.S. Food and Drug administration found acceptable in its oral solid dosage formulations manufacturing facility located in Madhya Pradesh.

Jet Airways (India) Limited fell 0.2% to Rs 327.75 after the airline increased fares by 25% and passed on the recent surge in oil prices.

Mahindra & Mahindra Limited slipped 0.4% to Rs 776.70 after the automobile company plans to invest Rs 10,000 crore in the next three years to launch new vehicles.

Oil and Natural Gas Corporation Limited surged 5.1% to Rs 269.80 and the subsidiary ONGC Videsh Ltd is finding it difficult to raise debt to fund $2.64 billion deal to acquire 10% stake in Anadarko Petroleum’s oil field in in Mozambique.

Separately, the company and Shell India are in talks with Nagarjuna Oil Corporation for a strategic stake in Cuddalore refinery valued 25,000 crore.

Sadbhav Engineering Limited gained 1.5% to Rs 55.10 after the company’s subsidiary received order of Rs 632.90 crore linked to a road project in Ahmedabad.

Tata Consultancy Services Limited dropped 3.4% to Rs 1,996.40 after it won multi-million dollar project from Macau based telecom service provider CTM for deploying rating and billing system.

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