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Market Update

India Movers: Mahindra Holidays, Oil India, Rajesh Exports, Tata Power

Author: Mukesh Buch
Last Update: 10:31 AM ET July 07 2014

6:00 PM Mumbai Mahindra Holidays acquired 19% stake in Finland-based Holiday Club Resorts for 13 million. Oil India plans to buy oil exploration block for $85 million in Russia. Rajesh Exports secured export order of Rs 1,260 crore in UAE.

The Sensex Index jumped 138.02 or 0.5% to close at 26,100.08 The CNX Nifty gained 35.55 to 7,787.15.

Gainers & Losers

Mahindra Holidays & Resorts India Ltd gained 2.9% to Rs 329.25 and the resort operator agreed to acquire 18.8% stake in Finland-based Holiday Club Resorts Oy for 13 million or $17.7 million.

Oil India Limited slid 0.3% to Rs 582 after the company completed the 50% stake acquisition in oil block in Russia for $85 million.

Rajesh Exports Ltd surged 6.6% to Rs 191.65 after the company secured export order from A1 Jameelat Jewellery, UAE worth Rs 1,260 crore.

Reliance Communications Ltd climbed 2.6% to Rs 146.85 after the company plans to shift thousands of its employees to its outsourcing partners to save costs and pay off debt.

Steel Strips Wheels Ltd gained 0.8% to Rs 278 after the company won export order from ALCAR for supply of 30,000 wheels for passenger vehicles.

Tata Power Company Limited jumped 3.6% to Rs 111.05 after the company agreed to sell 5% stake in PT Kaltim Prima Coal to Bakrie Group for $250 million.

United Spirits Ltd dropped 2.1% to Rs 2,402.40 after the company received approvals from shareholders for the sale of its UK-based subsidiary Whyte & Mackay for 430 million to the Philippines-based Emperador.

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