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Market Update

India Movers: Bhel, Dr. Reddy’s, ICICI, IDFC, Religare, Vakrangee

Author: Mukesh Buch
Last Update: 7:47 AM ET June 19 2013

6:00 PM Mumbai – Bhel secured contract worth $90 million. ICICI Bank raised $100 million through a Chinese debt market offering. Religare promoters reduce their stakes worth $182 million and apply for a banking license. Vakrangee promoters increased their stake.

The Sensex Index gained 22.42 to close at 19,245.70 and the CNX Nifty rose 8.65 to close at 5,822.25.

Gainers & Losers

Bharat Heavy Electricals Limited fell 0.9% to Rs 179.20 after the company secured contract worth Rs 450 crore for renovation of thermal unit in Maharashtra.

Dr. Reddy’s Laboratories Limited slipped 1.6% to Rs 2,099.10 after the U.S. based drug maker AbbVie Inc mounted a legal challenge for alleged infringement of thyroid injection patent.

Gujarat State Petroleum Corporation Ltd., after the company hiked retail cooking gas prices by Rs 2 per kg.

ICICI Bank Limited slid 0.4% to Rs 1,086.45 after its Dubai branch sold debt of 650 million Renminbi maturity date June 25, 2015.

IDFC Limited gained 0.7% to Rs 143.75 after the board approved the proposal to seek a retail banking license from the Reserve Bank of India.

Pratibha Industries Limited, the water transmission company received two new work orders for building and water segment worth Rs 571 crore.

Religare Enterprises Limited rose 0.5% to Rs 316 after the promoters plan to reduce their stake worth $182 million and apply for a banking license.

Vakrangee Softwares Ltd. advanced 5.1% to Rs 78.75 after the promoters increased their stake by 4.53% through open market in last one month.

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