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Market Update

India Movers: Cipla, Hero Motocorp, ICRA, NMDC, RIL, Shasun Prama

Author: Mukesh Buch
Last Update: 10:31 AM ET July 08 2014

6:00 PM Mumbai Cipla plans to invest up to 100 million in U.K. Hero Motocorp plans to set up a manufacturing facility in Colombia and invest $70 million. ICRA net surged 32%. RIL acquired Network 18 Media and TV18.

The Sensex Index declined 517.97 or 2% to close at 25,582.11 The CNX Nifty slumped 163.95 or 2.1% to 7,623.20.

Gainers & Losers

Cipla Ltd slipped 1.6% to Rs 442.20 after the company plans to invest up to 100 million or about Rs 1,030 crore in the UK in next few years and launch new drugs.

Hero Motocorp Ltd fell 1.5% to Rs 2,574.40 and the company set up its manufacturing facility in Colombia worth $70 million or about Rs 420 crore.

ICRA Limited dropped 3.7% to Rs 2,955.30 after net profit in the first-quarter surged 32% to Rs 21.80 crore and total revenue climbed 17% to Rs 80.97 crore.

NMDC Limited plummeted 4.6% to Rs 174.10 after the company plans to invest about $10 million to subscribe a rights issue planned by its Australian subsidiary Legacy Iron Ore Limited.

Reliance Industries Limited declined 3% to Rs 995.15 after the company completed the acquisition of Network 18 Media & Investments Ltd and its subsidiary TV18 Broadcast.

Shasun Chemicals & Drugs Limited jumped 2.1% to Rs 172.65 after the company successfully completed both the US FDA, Mexican COFEPRIS and Mexican Regulatory Authority inspections.

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