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Market Update

India Movers: Coal India, Crompton Greaves, Hexaware, Tata Motors

Author: Mukesh Buch
Last Update: 8:30 AM ET April 04 2013

6:00 PM Mumbai – Government plans to sell its 4.1% stake in Coal India to raise $3.67 billion. Crompton Greaves wins a contract worth $50 million in Netherlands. Hexaware signed a contract with the US based client worth $30 million. Diageo Plc agreed to buy a majority stake United Spirits for $2 billion.

The Sensex Index plummeted 291.94 or 1.6% to close at 18,509.70 The CNX Nifty declined 98.15 or 1.7% to close at 5,574.75.

Gainers & Losers

Coal India Limited gained 2.6% to Rs 310.20 after the government plans to sell its 4.1% stake in the company to raise $3.67 billion.

Crompton Greaves Limited fell 1.5% to Rs 91.10 after the company’s consortium wins a contract worth Rs 239 crore from Van Oord Offshore Wind Projects in Netherlands.

Hexaware Technologies Limited rose 0.7% to Rs 90.50 after the company signed a contract with US based existing clients for three years with estimated revenue worth $30 million.

IndusInd Bank Limited declined 3.9% to Rs 404.95 after the bank allotted 9,125 shares under employee stock option scheme.

Larsen & Toubro Limited slipped 1.3% to Rs 1,361.45 after the company allotted 4,38,829 under employee stock option scheme.

Tata Motors Limited edged up 0.08% to Rs 257.80 and the automaker launched Tata Prima in the Sri Lankan market.

United Spirits Limited inched up 0.07% to Rs 1,823.90 after the Diageo Plc agreed to buy majority stake in the company for Rs.11,000 crore or $2 billion.

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