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Market Update

India Movers: IDBI Bank, L&T, RPP Infra


Author: Mukesh Buch
ticker.com
Last Update: 11:47 AM ET March 19 2015

6:00 PM Mumbai – IDBI Bank completed the stake sale in Credit Analysis and Research to LIC. Larsen & Toubro won orders for ₹1,255 crore in March. RPP Infra secured an order worth ₹16.6 crore from Mangalore SEZ Ltd. Rajesh Exports acquires export order about ₹1,265 crore from UAE.

Stocks in Mumbai declined in volatile trading after infrastructure companies and banks were in focus.

Investors also reviewed the latest U.S. Fed announcement and policymakers lowered rate outlook which is closer to investor’s expectations.

Rupee fell 17 paisa to 62.52 against one dollar.

The Sensex Index dropped 152.45 or 0.5% to close at 28,469.67. The CNX Nifty decreased 51.25 or 0.6% to 8,634.65.

Gainers & Losers

IDBI Bank Limited declined 3.9% to ₹74.35 after the financial services provider sold 2.9 million shares or 10% stake in Credit Analysis and Research Ltd to Life Insurance Corp.

Larsen & Toubro Limited slipped 1% to ₹1,683.05 after the infrastructure developer won orders for ₹1,255 crore in March.

Oricon Enterprises Ltd increased 1.1% to ₹64.30 after the fuel products maker received board approval to acquire 70% shares in its joint venture company, Oriental Containers for ₹105 crore.

RPP Infra Projects Ltd slid 0.3% to ₹121 after the infrastructure developer secured an order worth ₹16.6 crore from Mangalore Sez Ltd.

Rajesh Exports Limited advanced 2.1% to ₹210.90 after the gold and diamond jewellery maker won export order about ₹1,265 crore from UAE.

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