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Market Update

India Movers: GAIL, Fortis Healthcare, IOB, Mysore Paper, Unitech

Author: Mukesh Buch
Last Update: 10:33 AM ET August 21 2013

6:00 PM Mumbai Fortis Healthcare sold its remaining stake in Vietnam based hospital for $80 million. IOB plans to raise approx $500 million before end of the year. Mysore Paper loss widened.

The Sensex Index declined 266.98 or 1.5% to close at 17,979.06 The CNX Nifty dropped 98.90 or 1.8% to close at 5,302.55.

Gainers & Losers

GAIL (India) Limited gained 0.2% to Rs 298 after the state-run gas utility signed a contract with the Pakistani firm to export natural gas from Punjab state.

Fortis Healthcare Limited gained 1.6% to Rs 96.80 after it sold its remaining 65% stake in Vietnam based hospital chain Fortis Hoan My Medical Corporation for $80 million.

Indian Overseas Bank slipped 1.8% to Rs 38.60 and the bank plan to raise approx $500 million through Medium Term Note Program before end of the year.

The Mysore Paper Mills Limited closed unchanged at Rs 4 and net loss in the first-quarter widened to Rs 21.19 crore compared to Rs 20.71 crore a same quarter last year.

Sales plunged 13.9% to Rs 89.16 crore.

Prime Securities Limited slipped 2.5% to Rs 1.95 after the first-quarter net loss narrowed to Rs 1.74 crore compared to Rs 5.54 crore a year ago period.

Shiva Cement Limited rose 2.2% to Rs 2.29 after the first-quarter net profit advanced 6% to Rs 1.23 crore and Sales fell 1.37% to Rs 18.01 crore.

Tokyo Plast International Ltd, the household articles maker reported net in the first-quarter swung to a profit Rs 1.32 crore compare with a loss of Rs 27 lacs a year earlier.

Sales declined 9.3% to Rs 11 crore.

Tulsi Extrusions Limited fell 1.9% to Rs 4.62 and the net in the first-quarter swung to a loss Rs 1.53 crore compared to a profit Rs 1.89 crore a year ago.

Sales plunged to 64.2% to Rs 22.83 crore.

Unitech Limited plunged 8% to Rs 16.20 after the London Stock Exchange listed Unitech Corporate Parks is in talk with private equity firm Blackstone and Singapore''s sovereign wealth fund GIC to sell its IT special economic zone in Gurgaon for Rs 2,700 crore.

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