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Market Update

India Movers: Gateway Distriparks, MakeMyTrip, REC, SpiceJet

Author: Mukesh Buch
Last Update: 9:18 AM ET March 12 2014

6:00 PM Mumbai Gateway Distriparks increased its stake to 54.2% in Snowman Logistics. MakeMyTrip sold its 4.5 million shares to raise $115 million. SpiceJet placed an order for 42 Boeing 737 MAX aircraft valued at a list price of $4.4 billion.

The Sensex Index gained 29.80 to close at 21,856.22. The CNX Nifty rose 5 to close at 6,516.90.

Gainers & Losers

Gateway Distriparks Ltd gained 2.1% to Rs 149.50 after the company acquired 54.19% stake in its Snowman Logistics Ltd, a cold chain services company.

Separately, the company bought an additional stake of about 6% in Snowman from Japan-based Nichirei Logistics Corporation for approx Rs 25.9 crore or $4.3 million.

MakeMyTrip Limited, the online travel reservation site sold 40,50,000 shares including stake by its venture capital investors and the management to raise $115 million.

Rural Electrification Corporation Ltd rose 0.7% to Rs 204.20 after the company is in talks with Germany-based KfW to provide fund for renewable energy projects.

SpiceJet Limited climbed 3.3% to Rs 14.61 after the budget airline placed an order for 42 Boeing 737 MAX aircraft worth $4.4 billion at list prices. The delivery will begin in 2018.

Tilaknagar Industries Ltd jumped 2.5% to Rs 56.45 after the company agreed to acquire the entire liquor business from Kolkata-based IFB Agro Industries.

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