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Market Update

India Movers: AstraZeneca, Glaxo, IL&FS, Ramco Systems, Tata Power

Author: Mukesh Buch
Last Update: 9:02 AM ET March 06 2014

6:00 PM Mumbai – AstraZeneca plunged 9% after drug maker differed its delisting plan. IL&FS to issue debentures worth Rs 100 crore. Ramco Systems signed a pact with Malaysia Airlines for 5-years. Tata Power plans a rights issue to raise Rs 2,000 crore.

The Sensex Index climbed 237.01 or 1.1% to close at 21,513.87. The CNX Nifty jumped 72.50 to close at 6,401.15.

Gainers & Losers

AstraZeneca Pharma India Limited plunged 9.3% to Rs 1,064.35 after the Sweden-based promoter deferred delisting proposal from the exchange that offered by the parent company in the last week.

Financial Technologies (India) Ltd soared 5% to Rs 370 after the Bank of America-Merrill Lynch unit bought a stake of 0.51% worth $1.33 million.

GlaxoSmithKline Pharmaceuticals Limited dropped 2.6% to Rs 2,677.45 as the parent company’s offer to acquire the Indian subsidiary ended today.

IL&FS Transportation Networks Ltd surged 6.3% to Rs 120.75 and the board approved issue of debentures worth of Rs 100 crore through private placements.

JBF Industries Ltd dropped 2.1% to Rs 71.25 after the HDFC mutual fund sold 17,30,000 shares or 2.65% equity of the company at Rs 69.50 per share.

Ramco Systems Ltd jumped 2.1% to Rs 236.10 after the IT solutions provider signed a pact with Malaysia Airlines for providing suite of enterprise-wide engineering solutions for 5-years.

Thomas Cook India Ltd climbed 3.7% to Rs 78.80 and the company launched ''''marhaba'''' Meet & Greet, Visa services for Dubai, Abu Dhabi and Bahrain airports.

Tata Power Company Limited gained 1.4% to Rs 78.50 after the board committee is scheduled to meet on Saturday to finalize the proposed rights issue to raise Rs 2,000 crore.

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