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Market Update

India Movers: Dish TV India, BGR, Nalco

Author: Mukesh Buch
Last Update: 7:52 AM ET March 14 2013

6:00 PM Mumbai Allahabad Bank lowered interest rate by 5 basis points. BGR Energy pulled out from NTPC power equipment supply contract. Infosys wins five-year contact from BMW Group. Government plans to sell 5% stake of Nalco on Friday.

The Sensex Index advanced 207.89 or 1.1% to close at 19,570.44 The CNX Nifty jumped 57.75 to close at 5,908.95.

Gainers & Losers

Allahabad Bank climbed 2.4% to Rs 141.95 after the bank lowered interest rate by 5 basis points to 10.25% for housing loans for above Rs 30,00,000.

BGR Energy Systems Limited rose 0.6% to Rs 206.80 after the company withdraws from contract to supply power equipment to NTPC that was estimated at Rs 800 crore.

Dish TV India Limited slipped 1.4% to Rs 65.75 after the US based private equity firm Apollo Global Management LLC is said to plan to sell 11% stake.

Gammon India Limited gained 1.9% to Rs 27.30 after the board agreed to begin talks with lenders to restructure the company''s debt.

HCL Infosystems Limited rose 0.1% to Rs 40 after the company said its promoter HCL Corporation Pvt Ltd agreed to buy 11,71,000 shares to hold the stake to 43.74%.

Infosys Limited rose 0.4% to Rs 2,874.90 after the German based BMW Group selected as worldwide partner for application basis infrastructure management services.

Kennametal India Limited plunged 9.1% to Rs 485.15 after the promoter fixed the floor price for its offering at Rs 435.

National Aluminium Company Limited declined 4.3% to Rs 44.10 after the government plan to sell 5% stake or 12.89 crore shares at Rs.5 per share on March 15.

Reliance Industries Limited increased 2% to Rs 860.65 after the company said it plans to invest $27 billion in next four years in its oil and gas and petrochemical businesses.

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