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Market Update

India Movers: Cairn India, Jindal, MMTC, Siemens, Tata Steel, TCS

Author: Mukesh Buch
Last Update: 8:33 AM ET April 10 2013

6:00 PM Mumbai Cairn India fourth quarter oil production jumped 12%. Jindal Stainless in strategic agreement with Korean steelmaker Posco. Siemens India secured contract from Bangladesh. Tata Steel fourth quarter steel production jumped 27% and sales surged 29%.

The Sensex Index climbed 187.97 or 1% to close at 18,414.45 The CNX Nifty jumped 63.60 to close at 5,558.70.

Gainers & Losers

Cairn India Limited rose 0.9% to Rs 293.45 after the company said fourth quarter average daily gross production of oil jumped 12% to 2,02,000 barrels.

eClerx Services Limited soared 5.2% to Rs 663 after the board of directors approved buyback up to 10% of the total paid-up equity capital of shares.

Jindal Stainless Limited surged 9% to Rs 51.30 on reports the company entered into a strategic agreement with Korean steelmaker Posco.

MMTC Limited dropped 3.6% to Rs 218.25 after the Department of Disinvestment plans to sell 9.33% stake before May to raise Rs 300 crore.

Reliance Infrastructure Limited climbed 4.6% to Rs 344.25 after the company agreed to drop the power tariff by 37% with the government of Goa.

Siemens Limited increased 1.5% to Rs 479.25 after the company secured contract worth Rs 104.40 crore from Bangladesh.

Tata Steel Limited rose 0.4% to Rs 305.55 after the company reported fourth quarter steel production jumped 27% and sales surged 29%.

On report, the company plans to sell some of its UK assets due to weak economy deteriorated the demand.

Tata Communications Limited gained 1.7% to Rs 226.85 after the company in deal with consultancy Mott MacDonald plans to redesign telecom infrastructure for 5 years worth $20 million.

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