6:00 PM Mumbai – Cinemax approved the proposed merger with PVR. Elder Pharma surged after a stake sale. Regulators initiate an inquiry for coal block corruption against Jindal Steel & Power. ONGC withdrew its statement that it acuired Mozambique gas field from Videocon.
The Sensex Index declined 298.07 or 1.5% to close at 19,143 The CNX Nifty dropped 89.20 to close at 5,788.80.
Gainers & Losers
Cinemax India Limited
surged 10% to Rs 138.30 after the company''s board approved the proposed merger with the multiplex chain operator PVR.
Elder Pharmaceuticals Ltd
surged 5% but closed down 0.6% to Rs 338.20 after the media reports that promoters of the company intend to sell their stakes.
After the close, the company clarified that the promoters do not intend to sell their stake.
Jindal Steel & Power Limited
tumbled 18% to Rs 218.90 after the reports the investigation agency filed FIR against the Jindal group into allegations of corruption in the allocation of coal blocks.
Oil and Natural Gas Corporation Limited
declined 3.2% to Rs 310.70 after the company withdrew the statement of yesterday that ONGC Videsh and Oil India signed an agreement to buy a 10% stake in Mozambique gas field from Videocon Group for $2.48 billion.
Prime Focus, Ltd
dropped 1.9% to Rs 36.60 on the report that foreign private equity fund was accumulating stake in the visual effects maker for films and advertisements.
Tech Mahindra Limited
jumped 2.9% to Rs 968.20 after the Andhra Pradesh High Court gave its confirmation for their merger with Mahindra Satyam.