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Market Update

India Movers: Crompton Greaves, EIL, RCom, United Spirits

Author: Mukesh Buch
Last Update: 8:38 AM ET June 19 2014

6:00 PM Mumbai – Crompton Greaves put up a part of its land parcel of Mumbai for sale. EIL signed a contract with Nigeria based company worth $139 million. United Spirits plunged after Diageo’s open offer ended today. RCom plans to raise $400 million.

The Sensex Index fell 44.45 or 0.2% to close at 25,201.80 The CNX Nifty slid 17.50 to 7,540.70.

Gainers & Losers

Crompton Greaves Ltd slumped 1.9% to Rs 194.45 on reports the company has put up a part of its land parcel of about 8 acres to 10 acres at Lal Bahadur Shastri Marg in the eastern suburbs of Mumbai for sale.

The report added the rest will be sold in tranches, with total value of the 32 acre plot is estimated at Rs 1,400 crore.

Engineers India Limited rose 0.2% to Rs 304.65 after the company signed a contract with Dangote Group for a project worth $139 million in Nigeria.

Maruti Suzuki India Ltd declined 2.5% to Rs 2,378.50 after the automaker commissioned a solar power station at its Manesar plant for about Rs 10 crore.

Reliance Communications Ltd slipped 1.3% to Rs 149.10 after the company plans to raise about $400 million or Rs 2,400 crore by selling shares to institutional investors.

United Spirits Ltd tumbled 7.7% to Rs 2,589.30 and the open offer made by U.K.-based Diageo Plc to acquire additional stake in the company ends today.

Zee Entertainment Enterprises Limited gained 0.5% to Rs 277.55 after the company launched its new general entertainment channel Zindagi.

Goldman Sachs’s Singapore arm sold 1.17 crore shares for about Rs 322 crore through open market transactions.

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