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Market Update

India Movers: Cinemax, Coal India, Emami, M&M, SpiceJet, Tata Motors

Author: Mukesh Buch
Last Update: 8:26 AM ET June 17 2013

6:00 PM Mumbai Two movie theater chain operators, Cinemax and PVR agreed to merge. Coal India plans to acquire two Australian companies for $4 billion. Emami Paper raised Rs 120 crore. M&M agreed to sell majority stake in its unit worth $116 million.

The Sensex Index increased 147.94 or 0.8% to close at 19,325.87 The CNX Nifty gained 41.65 to close at 5,850.05.

Gainers & Losers

Cinemax India Limited surged 5% to Rs 150.70 after board of directors of PVR on June 15 approved the merger scheme of Cine Hospitality and Cinemax India with PVR.

As per the swap ratio, shareholders of Cinemax India will get 4 shares of PVR for every 7 shares held in Cinemax India.

Coal India Limited rose 0.4% to Rs 302.30 after the miner plans to acquire two Australian companies for $4 billion or about Rs 23,000 crore to import 28 million ton high quality thermal coals a year.

D B Realty Limited gained 1% to Rs 70.30 after net in the fourth quarter swung to profit Rs 9.86 crore from net loss of Rs 69.89 crore and sales jumped to Rs 38.53 crore.

For the year, net profit tumbled 99.5% to Rs 0.3 crore compared to Rs 63.20 crore last year and sales dropped 30.8% to Rs 33.68 crore.

Emami Paper Mills Limited closed unchanged at Rs 25 after the company raised Rs 120 crore through a preference share offering.

Mahindra & Mahindra Limited climbed 4.4% to Rs 989.40 after it agreed to sell majority stake in its auto component unit to CIE Automotive SA worth $116 million and buy a stake in the Spanish auto parts maker.

As per announcement of June 15, Mahindra Group will merge all its auto components businesses into Mahindra Forgings Ltd which is renamed Mahindra CIE Automotive.

Separately, Mahindra and Mahindra Ltd agreed to acquire 13.5% stake in CIE for 94.24 million or $125.72 million.

SpiceJet Limited increased 0.9% to Rs 29.25 after the promoter Kalanithi Maran is looking to lower his majority 52% stake to long-term investors including foreign airlines.

Tata Motors Limited rose 0.9% to Rs 299.55 after the automaker said global wholesale sales plunged 14.9% to 81,783 units in May.

Tirupati Inks Limited closed unchanged at Rs 4.75 after net profit in the fourth quarter surged five-fold to Rs 2.29 crore and sales climbed 51.6% to Rs 70.83 crore.

For the year, net profit soared 76.9% to Rs 4.90 crore and sales jumped 47.1% to Rs 228.11 crore.

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