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Market Update

India Movers: AstraZeneca, Bharti, Essar, Gammon, Kotak, Ramky


Author: Mukesh Buch
ticker.com
Last Update: 10:29 AM ET June 23 2014

6:00 PM Mumbai AstraZeneca rose after shareholders approved delisting and Essar Oil also delisted its stock from exchanges. Bharti Airtel signed a network agreement in Mumbai with Loop Mobile. Gammon Infra to raise up to $83 million. Ramky Infra net swung to a loss.

The Sensex Index slipped 74.19 or 0.3% to close at 25,031.32 The CNX Nifty fell 18.10 to 7,493.35.

Gainers & Losers

AstraZeneca Pharma India Limited jumped 2.3% to Rs 1,135.20 after the company received shareholders approval of delisting.

Bharti Airtel Limited increased 0.8% to Rs 340.90 after the wireless carrier signed an agreement with Loop Mobile to create the largest mobile network in Mumbai.

Essar Oil Ltd climbed 4.9% to Rs 113.80 after the company''s board approved delisting of shares from the BSE Ltd and National Stock Exchange.

The group companies Essar Ports and Essar Shipping rose about 5%.

Gammon Infrastructure Projects Limited soared 4.9% to Rs 14.23 and the company plans to raise $83.08 million or Rs. 500 crore through a qualified institutional placement.

Kotak Mahindra Bank Limited declined 3.8% to Rs 895 and the index provider Morgan Stanley Capital International announced to drop the stock from its Global Standard Index from July 8.

Ramky Infrastructure Limited gained 0.8% to Rs 78 after the company said net in the fourth-quarter swung to a loss of Rs 181.29 crore from net profit of Rs 5.75 crore in the period a year ago and revenues declined 67.4% to Rs 308.02 crore.

For the year, net swung to a loss of Rs 432.11 crore from profit of Rs 59.93 crore and revenues plunged 42.2% to Rs 1,755.09 crore.

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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