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Market Update

India Movers: KEC Intl, L&T, M&M, Novartis, Syndicate Bank

Author: Mukesh Buch
Last Update: 2:04 AM ET April 01 2013

6:00 PM Mumbai – KEC Intl won new orders worth $180 million and L&T secured order valued $1 billion and completed acquisition of Audco India. M&M March sales surged 10.6%. Supreme Court rejected cancer drug patent of Novartis. Syndicate Bank raised $500 million for its London operations.

The Sensex Index gained 28.98 to close at 18,864.75 The CNX Nifty increased 21.85 to close at 5,704.40.

Gainers & Losers

DEN Networks Limited climbed 3.2% to Rs 195 after the company said its board has approved stake sell of 26% of the company.

KEC International Limited gained 1.3% to Rs 58.55 after the company won new orders worth Rs 914 crore in its transmission, power systems and cables businesses.

Larsen & Toubro Limited jumped 2.2% to Rs 1,394.70 after the company secured order valued at Rs 5,689 crore from the Rajasthan Rajya Vidyut Utpadan Nigam.

Today the company has completed the acquisition of its group company Audco India.

Mahindra & Mahindra Limited fell 0.8% to Rs 854.35 after March sales surged 10.6% and domestic sales in fiscal 2012-2013 soared 16.9% to 5,30,915 units.

Maruti Suzuki India Limited rose 0.3% to Rs 1,283.15 after the Japan based Suzuki Motor Corp’s stake increased to 56.2% in Suzuki Powertrain India Ltd.

Novartis India Limited slipped 1.8% to Rs 587.95 after the India’s Supreme Court rejected plea of patent from Swiss drug maker Novartis AG for cancer drug Glivec.

NTPC Limited increased 1.1% to Rs 143.60 after the company commissioned 500 MW super thermal power project of Mouda from March 29.

Oil and Natural Gas Corporation Limited fell 1.1% to Rs 308.20 after the U.S. based Hess Corp completed $1 billion stake sell in Azerbaijan to ONGC Videsh.

SKS Microfinance, Ltd climbed 4.2% to Rs 126.60 after the company completed its two microfinance securitization transactions worth Rs 226 crore.

Syndicate Bank jumped 3.6% to Rs 113.90 after the bank issue medium term bond to raise $500 million for its London operations.

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