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Market Update

India Movers: Diamond Power, Hindalco, MCFL, Punj Lloyd, RCom, STC

Author: Mukesh Buch
Last Update: 9:28 AM ET July 11 2013

6:00 PM Mumbai Hindalco raised automotive sheet price in Europe. Punj Lloyd signed an agreement to develop 100 megawatts power plant in Rwanda. RCom completed securitizations agreement with Reliance Jio.

The Sensex Index climbed 388.61 or 2% to close at 19,682.73 The CNX Nifty jumped 118.40 to close at 5,935.10.

Gainers & Losers

Apollo Tyres Ltd gained 1.3% to Rs 64.10 after the Morgan Stanley buys 0.5% stake or 2.7 million shares in the company at a price of Rs 63.37 per share.

Diamond Power Infrastructure Limited jumped 7.3% to Rs 58.80 after the company said revenue of its power cables and conductors division in the fiscal year 2015-2016 is expected to surge Rs 4,100 crore.

GMR Infrastructure, Ltd rose 1.7% to Rs 17.80 after the company said its second 350 megawatts coal power plant at Odisha is successfully synchronized with the grid.

Hindalco Industries Limited climbed 4.7% to Rs 102.80 after the company increased the price of its automotive sheet in Europe by $205 a ton across its product range.

Jain Irrigation Systems, Ltd gained 3.8% to Rs 52 after the company plan to sell its wind power business to bring down its debt by Rs 63 crore.

Mangalore Chemicals & Fertilizers Ltd surged 10% to Rs 67.85 after the Zuari Fertilizers has increased its stake to 13.5% for about Rs 25 crore.

Punj Lloyd Limited climbed 2.2% to Rs 33.10 after the company signed agreement with Africa based Rwanda to develop 100 megawatts power plant with an estimated cost of Rs 1,000 crore.

Reliance Communications Limited advanced 1.1% to Rs 141.65 after the company completed securitizations agreement of Rs 1,200 crore with Reliance Jio Infocomm.

The State Trading Corporation declined 5.2% to Rs 99.75 after the government approved its partial divestment stake in the company.

UltraTech Cement, Ltd increased 1.5% to Rs 1,980.90 after the company said it has commissioned its clinker plant of 3.3 million tons per annum in Karnataka.

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