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Market Update

India Movers: Autoline, Godrej Properties, HMT, IOC, Prime Focus

Author: Mukesh Buch
Last Update: 8:40 AM ET March 11 2014

6:00 PM Mumbai – Godrej Properties develop a new project in Vikhroli with Boyce. HMT gained after government approved revival plans. Indian Oil will invest about Rs 3,150 crore to set up a polypropylene unit in Paradip and Kuwait Petroleum may take a stake.

The Sensex Index slipped 108.41 or 0.5% to close at 21,826.42. The CNX Nifty fell 25.35 to close at 6,511.90.

Gainers & Losers

Autoline Industries Ltd jumped 4.5% to Rs 72.70 ahead of the board meeting today to discuss ways to raise capital.

Godrej Properties Limited climbed 4.7% to Rs 178.90 after the company plans to develop a new project in Vikhroli through an agreement with Boyce.

HMT Limited gained 1.7% to Rs 30.25 after the government approved the company’s restructuring plan.

Indian Oil Corporation Limited grew 0.4% to Rs 269.45 after the company plans to invest about Rs 3,150 crore for setting up a polypropylene unit in Paradip.

Separately, Kuwait Petroleum Corp is in talks to acquire stake in the state-owned firm''s Rs. 29,777-crore Paradip refinery and a proposed petrochemical complex.

IndusInd Bank Limited rose 0.7% to Rs 472.55 after the Hinduja Group Ltd today sold 4,70,000 shares to Hinduja Ventures for Rs 21.15 crore.

Petron Engineering Construction Ltd surged 20% to Rs 128.80 after the company received contract worth Rs 54.70 crore from UltraTech Cement.

Prime Focus Limited increased 1.4% to Rs 28.40 after the motion picture producer agreed to acquire U.S.-based DAX LLC, a cloud-based production and media applications provider for Rs 56 crore or $9.1 million.

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