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Market Update

India Movers: Asian Paints, Essar, Infosys, Idea, KEC Intl, Tata, Unitech


Author: Mukesh Buch
ticker.com
Last Update: 9:56 AM ET June 12 2014

6:00 PM Mumbai Asian Paints completed acquisition of Ess Ess bathroom products. Essar plans to raise up to $600 million. Infosys appointed Vishal Sikka as new CEO, the first outsider to lead the company. Jaiprakash Associates sold its Gujarat plant to UltraTech Cement.

The Sensex Index gained 102.32 or 0.4% to close at 25,576.21 The CNX Nifty rose 23.05 to 7,649.90.

Gainers & Losers

Asian Paints Ltd jumped 1.1% to Rs 547.90 after the company completed acquisition of Ess Ess bathroom products business including its brands, network and sales infrastructure.

The Essar Group, the conglomerate plans to sell its Stanlow the U.K.-based refinery to raise up to $600 million for the plant in the northwest of England.

Hindalco Industries Ltd climbed 3.8% to Rs 168.75 after the company''s U.S.-based subsidiary Novelis successfully commissioned its first production of aluminum recycling in Germany.

Idea Cellular Ltd slipped 1.7% to Rs 141.20 after the company said it has allotted 22.38 crore shares at Rs 134 per share to Malaysia-based Axiata Group.

Infosys Ltd slid 0.4% to Rs 3,166 after the company appointed former SAP chief technology officer Vishal Sikka as its new chief executive officer and managing director.

Jaiprakash Associates Limited dropped 2.3% to Rs 81.35 after the company completed sales of its cement plant in Gujarat to UltraTech Cement Limited.

KEC International Ltd gained 0.8% to Rs 124.35 after the company secured new orders worth Rs 1,209 crore in its transmission & distribution and cables businesses.

Tata Motors Limited increased 0.9% to Rs 449.65 after the company said its British luxury car unit Jaguar Land Rover global sales in May increased 20%.

Unitech Limited rose 0.7% to Rs 34.20 after the Canada-based Brookfield Asset Management agreed to acquire Candor Investments, a subsidiary of Unitech worth Rs 2,049 crore or $347 million.

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