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Market Update

India Movers: Corporation Bank, Dredging, HPCL, NALCO, Punj Lloyd

Author: Mukesh Buch
Last Update: 8:28 AM ET March 15 2013

6:00 PM Mumbai Corporation Bank shareholders approved preferential share allotment to government. Dredging opened its public issue of tax-free bonds to raise $90 million. HPCL plans to set up petrochemical complex in Rajasthan. Nalco public offer fully subscribed.

The Sensex Index dropped 142.56 or 0.7% to close at 19,427.56 The CNX Nifty decreased 36.35 to close at 5,872.60.

For the week, the Sensex slipped 1.3%.

Gainers & Losers

Corporation Bank slid 0.2% to Rs 398.45 after the shareholders approved the issue shares of 47,85,137 at a premium of Rs 416.32 a share to the Government of India.

Dredging Corporation of India Limited fell 0.7% to Rs 226.45 after the company opened its public issue of tax-free bonds to raise Rs. 500 crore.

Hindustan Petroleum Corporation Limited slid 0.1% to Rs 305.10 after the company signed an agreement with government of Rajasthan to set up petrochemical complex at Barmer.

Jindal Steel & Power Limited slipped 0.9% to Rs 356.65 and the company plan to invest Rs 23,000 crore in next three years to increase its steel manufacturing capacity.

The company is in talks with three European and U.S. companies for $10 billion coal-to-liquid projects.

National Aluminium Company Limited tumbled 8.8% to Rs 40.35 after the company completed the offering of a stake held by the government and raised Rs 515 crore.

Punj Lloyd Limited climbed 3.5% to Rs 48.80 after the company won offshore project valued $57.75 million in Al-Khafji, Saudi Arabia.

Parenteral Drugs (India) Limited plunged 7.1% to Rs 110.30 after the agreement with Fresenius Kabi India to sell pharmaceutical manufacturing unit at Goa for Rs.200 crore.

Videocon Industries Limited rose 0.4% to Rs 200.45 and the company launched 4G services in six circles including the states of Gujarat and Bihar.

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