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Market Update

India Movers: Infosys, Jubilant Life Sciences, L&T, Sun Pharma, Tata


Author: Mukesh Buch
ticker.com
Last Update: 10:01 AM ET March 13 2014

6:00 PM Mumbai Infosys tumbled after the software solutions provider lowered its fiscal outlook. Jubilant Life Sciences surged after the supplements maker lifted prices of vitamin B3 by 18%. L&T secured an order worth Rs 3,655 crore in Qatar.

The Sensex Index slipped 81.61 or 0.4% to close at 21,774.61. The CNX Nifty fell 23.80 to close at 6,493.10.

Gainers & Losers

Infosys Limited tumbled 8.5% to Rs 3,357.50 after the company forecasted total revenues for the year ending in March in the U.S. dollars to grow between 11.5% and 12% and in rupees to grow 24.4% to 24.9%.

Chairman Narayana Murthy said annual sales growth may be at the lower end of its projected estimate and is likely to lag behind industry estimate.

The outsourcing solution provider also was cautious about the next financial year because of weak spending by top clients.

Jubilant Life Sciences Ltd surged 6.7% to Rs 151.10 after the company increased the price of vitamin B3 ingredient by 18% from today.

Larsen & Toubro Limited rose 0.6% to Rs 1,225.40 after the company secured an order worth Rs 3,655 crore from a Qatar based company.

Sun Pharmaceutical Industries Limited plunged 5% to Rs 573.60 after the Food and Drug Administration banned imports from its plant in Gujarat.

Tata Motors Limited fell 0.2% to Rs 388 after the company''s British luxury car unit Jaguar Land Rover sales in February climbed 14%.

The company said sales in China region surged 44%, in North America by 12%, in Asia Pacific by 16% and in Europe 1%.

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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