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Market Update

India Movers: Canara Bank, Claris Lifesciences, IDBI, Il&FS, Jain Irrigation

Author: Mukesh Buch
Last Update: 9:30 AM ET March 21 2014

6:00 PM Mumbai Canara Bank plans to raise Rs 1,000 crore through a bond offering. Claris Lifesciences set up a stock buyback program of Rs 231 crore. IDBI Bank will sell its entire 19% stake in SHCI. Jain Irrigation allotted 7.5 million shares at Rs 86.30 per share.

The Sensex Index rose 13.66 to close at 21,753.75. The CNX Nifty grew 10.10 to close at 6,493.20. For the week, Sensex slid 0.1%.

Gainers & Losers

Canara Bank Ltd gained 0.2% to Rs 239.85 after the bank plans to raise Rs 1,000 crore through a bond offering.

Claris Lifesciences Ltd rose 0.7% to Rs 181.60 after the company will buyback of up to 92,50,000 shares at Rs 250 per share for an amount not exceeding Rs 231.25 crore.

Claris said """"The objective of the buy-back is to return surplus cash to shareholders of the company.""""

Emami Paper Mills Limited surged 10% to Rs 26.95 after the company said that a committee will meet on March 28 to consider preferential allotment of cumulative redeemable non-convertible shares.

IDBI Bank Ltd increased 0.9% to Rs 58.85 after the bank will sell its entire 18.95% stake in Stock Holding Corp. of India Ltd a custodial and depository services provider to IFCI Ltd.

Il&Fs Engineering & Construction Co Ltd jumped 9.1% to Rs 40 after the company won a Rs 69.97 crore contract for the Rapid Metro Rail Gurgaon.

Jain Irrigation Systems Limited gained 1.5% to Rs 58.95 after the company allotted 75,00,000 equity shares at an issue price of Rs 86.30 per share upon conversion of warrants by the promoter group entities.

Mercator Ltd climbed 14.9% to Rs 24.25 after the company acquired a liquefied petroleum gas carrier ship from Varun Shipping Co. Ltd for an undisclosed amount.

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