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Market Update

India Movers: MRPL, Polaris Financial, Titan, Tata Power, Unichem Lab


Author: Mukesh Buch
ticker.com
Last Update: 11:22 AM ET July 14 2014

6:00 PM Mumbai – Polaris Financial gained after Orbitech sold 6,16,400 shares at Rs 226.93. Titan closed its two gold deposit schemes and expected to record sales in August. Tata Power seek shareholders approval to raise Rs 7,000 crore. Unichem Lab net declined but revenue jumped.

The Sensex Index slid 17.81 to close at 25,006.54 The CNX Nifty fell 5.45 to 7,454.15.

Gainers & Losers

Mangalore Refinery & Petrochemicals Ltd rose 0.8% to Rs 66.50 after on reports ONGC determine the proposal to merge with ONGC Mangalore Petrochemicals.

Polaris Financial Technology Ltd gained 2.2% to Rs 221.05 after the Orbitech Limited sold 6,16,400 shares at Rs 226.93.

Titan Company Ltd declined 2.6% to Rs 321.75 after the company’s jewelry unit Tanishq closed its two gold deposit schemes and expected to record sales of about Rs 1,000 crore by the end of August.

Tata Power Company Limited jumped 2.8% to Rs 104.70 after the company seek shareholders approval to raise Rs 7,000 crore through issue of non-convertible debentures.

Tata Sponge Iron Ltd soared 4% to Rs 640.85 ahead of the quarterly earnings today.

Unichem Laboratories Limited plunged 4.4% to Rs 186.95 after the net profit in the first-quarter declined 16.3% to Rs 30.19 crore and total revenues climbed 9.6% to Rs 291 crore.

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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