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Market Update

India Movers: Bharti, Crompton, Coal India, ONGC, Power Grid, Suzlon

Author: Mukesh Buch
Last Update: 8:57 AM ET December 11 2013

6:00 PM Mumbai – Bharti Infratel and RJio signed agreement to share infrastructure. Crompton is looking to sell or exit from Canadian power transformer plant. Suzlon Energy won orders to deliver 103 wind turbines in Germany.

The Sensex Index fell 83.85 or 0.4% to close at 21,171.41. The CNX Nifty slid 24.95 to close at 6,307.90.

Gainers & Losers

Bharti Infratel Limited climbed 3.8% to Rs 184.90 and Reliance Jio Infocomm a subsidiary of Reliance Industries signed agreement to share telecom infrastructure.

Balrampur Chini Mills Limited soared 4.4% to Rs 46.95 after the Food Minister said the government may be prepared to offer a bailout package for the sugar industry before the year-end.

Coal India Limited gained 1.2% to Rs 288.75 after the Competition Commission of India imposed a penalty of Rs 1,773.05 crore for abusing its dominant position as a fuel supplier.

Crompton Greaves Limited dropped 2.9% to Rs 130.40 and the company is looking to either sell or exit from Canadian power transformer plant to reduce the loss.

Oil and Natural Gas Corporation Limited declined 2.1% to Rs 291.95 after the company said it would file an appeal with the Supreme Court against a Gujarat High Court order asking the company to pay Rs 10,000 crore in past royalty dues.

Power Grid Corporation of India Limited fell 0.4% to Rs 97.95 after the government today fixed the public offering price at Rs 90 per share, the upper end of the band to raise approx Rs 7,000 crore.

Ramco Systems Ltd increased 1.5% to Rs 132 and WNS (Holdings) Limited signed strategic partnership to expand its human resources outsourcing marketplace across industries.

Suzlon Energy Limited jumped 6.5% to Rs 10.05 after the company’s subsidiary REpower Systems SE won orders to deliver 103 wind turbines in Germany.

United Breweries Limited gained 1.9% to Rs 791.25 after Dutch beer maker Heineken International BV, raised its stake and paid Rs 275 crore and became the largest shareholder.

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