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Market Update

India Movers: AstraZeneca, Airtel, BF Utilities, Hero, KEC Intl, Mphasis


Author: Mukesh Buch
ticker.com
Last Update: 9:51 AM ET March 14 2014

6:00 PM Mumbai – AstraZeneca Pharma is scheduled to meet tomorrow to decide delisting. Bharti Airtel completed a bond offering of $400 million. BF Utilities plunged after promoters their stakes by 0.34%. KEC Intl won order worth Rs 1,200 crore. Mphasis net declined 5%.

The Sensex Index rose 17.67 to close at 21,792.28. The CNX Nifty gained 11.10 to close at 6,504.20. For the week, Sensex fell 0.5%.

Gainers & Losers

AstraZeneca Pharma India Limited surged 8.8% to Rs 1,159.85 and the board is scheduled to meet tomorrow to decide on delisting the company’s share.

Bharti Airtel Limited slipped 1.9% to Rs 295.10 after the company raised 350 million francs or approx $400 million through bond sale.

This is the largest bond offering by an Indian entity in the Swiss debt market.

BF Utilities Limited plunged 9.6% to Rs 465.90 after the promoters sold their stake of 0.34% of the company through open market sale.

Hero Motocorp Ltd increased 1.2% to Rs 2,125.35 after the Life Insurance Corporation of India reduced its stake to 2.99% and sold 40,74,307 shares or 2.04%.

KEC International Ltd gained 1.9% to Rs 61.70 after the infrastructure developer won orders worth Rs 1,200 crore in various business segments in different countries.

Mphasis Ltd slid 0.7% to Rs 391.15 after net profit in the first-quarter declined 5.05% to Rs 180.60 crore and net sales fell 1.9% to Rs 1,563.97 crore.

The company added 11 new clients in the quarter to January 2014 of which 10 were in direct business segment.

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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