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Market Update

India Movers: Berger Paints, Eros, GVK Power, Titagarh Wagons

Author: Mukesh Buch
Last Update: 9:04 AM ET March 12 2013

6:00 PM Mumbai Eros climbed after the U.S. based retirement fund acquired a minority stake. Australia based Aurizon agreed to buy 51% in GVK Hancock''s projects. French subsidiary of Titagarh Wagons secured order worth 39 million.

The Sensex Index dropped 110.53 or 0.6% to close at 19,535.68 The CNX Nifty declined 28.25 to close at 5,914.10.

Gainers & Losers

Berger Paints India Limited dropped 3.9% to Rs 198.80 after the subsidiary of the company will acquire architectural operations of Sherwin William Paints for undisclosed amount.

Eros International Media Limited jumped 4.3% to Rs 182.55 after the U.S. based retirement fund purchased 6,00,000 shares from open market for Rs 10.50 crore.

GVK Power & Infrastructure Limited slipped 2% to Rs 11.03 after the Australia based Aurizon agreed to buy 51% in GVK Hancock''s rail and port projects, transaction amount not specified.

MMTC Limited surged 7.2% to Rs 317.70 after the inter-ministerial panel is likely to decide tomorrow the floor price for 9.33% stake sale in the company.

Punjab and Sind Bank rose 0.2% to Rs 64.80 after the bank raised Rs 140 crore through issue of shares to the Government of India on preferential basis.

Raymond Limited slid 0.5% to Rs 319.60 and the company restarted textile manufacturing plant at Gujarat.

Srei Infrastructure Finance Limited dropped 3.2% to Rs 35.35 after the company plans to apply for banking licence to set up the bank in rural area without partnership.

Titagarh Wagons Ltd gained 2.3% to Rs 197.50 after its French subsidiary secured order worth 39 million for 400 wagons from French Railways.

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