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Market Update

India Movers: Hindustan Zinc, Pennar, Ricoh India, Tata Steel

Author: Mukesh Buch
Last Update: 9:33 AM ET June 17 2014

6:00 PM Mumbai Essar Steel secured order to supply 102,000 tons of steel pipes from Gujarat government. Hindustan Zinc rose after government plans to sell its stake worth about Rs 20,000 crore. Tata Steel plans to raise up to Rs 14,000 crore.

The Sensex Index climbed 330.71 or 1.3% to close at 25,521.19 The CNX Nifty jumped 98.15 to 7,631.70.

Gainers & Losers

Essar Steel Ltd rose 0.4% to Rs 12.19 after the company secured order to supply 102,000 tons of steel pipes to Saurashtra Narmada Avtaran Irrigation project managed by Gujarat government.

Hindustan Zinc Ltd increased 1.1% to Rs 167.70 after the government plans to raise Rs 20,000 crore through a public offering.

Pennar Industries Ltd climbed 4.2% to Rs 36.80 after the company and its subsidiaries received orders worth Rs 105 crore.

Ricoh India Ltd tumbled 20% to Rs 172.80 after the printers and copier supplier failed to win enough support from shareholders for a delisting from the stock exchange.

Sturdy Industries Ltd declined 2.4% to Rs 2.83 after net in the fourth-quarter swung to a loss of Rs 16.83 crore compared to profit of Rs 1.99 crore and sales plunged 66.1% to Rs 114.54 crore.

Tata Steel Limited gained 1.4% to Rs 532.10 and the company plans to raise up to Rs 14,000 crore through privately placed debt securities in the domestic and international markets.

As on March 2014, the company had a consolidated net debt of Rs 57,119 crore.

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