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Market Update

India Movers: Dishman, EIL, L&T, SPML, Tata, Vascon

Author: Mukesh Buch
Last Update: 8:49 AM ET March 10 2014

6:00 PM Mumbai Dishman Pharma is in talks to sell its land assets in Gujarat to Nirma for 650 crore rupees. EIL won $139 million contract from Nigerian. L&T won new orders worth Rs 2,935 crore. Reliance Mediaworks plans to delist its shares.

The Sensex Index rose 15.04 to close at 21,934.83. The CNX Nifty gained 10.60 to close at 6,537.25.

Gainers & Losers

Dishman Pharmaceuticals & Chemicals Ltd slipped 1.9% to Rs 93.30 and the company is in talks to sell its 175 hectares of land in Gujarat to Nirma Limited for about Rs 650 crore. The proceeds will be used to repay debt.

Engineers India Limited jumped 3.5% to Rs 166.75 after the company won $139 million contract from Nigerian company Dangote Group for providing project management consultancy.

Larsen & Toubro Limited climbed 3.3% to Rs 1,237.40 after the engineering services provider won new orders worth Rs 2,935 crore across various business segments in February and March 2014.

Reliance Mediaworks Ltd fell 1.2% to Rs 55.85 after the company offered to buy back shares worth at least Rs 251 crore from public shareholders and the company plans to delist its shares.

SPML Infra Limited soared 9.9% to Rs 34.80 after the company received new orders worth Rs 721 crore from irrigation projects in Gujarat and from South Bihar Power Distribution Co. Ltd., Patna.

Tata Power Company slid 0.2% to Rs 78.95 after the company board issued 33.32 crore equity shares under the rights issue at Rs.60 a share, amounting to Rs.1,993.38 crore.

The company will allot 7 for every 50 shares held on March 20.

Vascon Engineers Limited surged 19.8% to Rs 21.20 after the company secured two new projects aggregating about Rs 245 crore.

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