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Market Update

India Movers: Reliance, BP and Niko Plan $5 billion Investments

Author: Mukesh Buch
Last Update: 8:04 AM ET February 20 2013

6:00 PM Mumbai Jaiprakash Power launched qualified institutional placement to raise nearly $730 million. LIC Housing Finance plans to raise nearly $37 million. Reliance Industries and two partners plan to invest over $5 billion in KG-D6 basin. Thomas Cook net declined 25%.

The Sensex Index inched up 7.03 to close at 19,642.75 The CNX Nifty rose 3.35 to close at 5,943.05.

Gainers & Losers

Jaiprakash Power Ventures Limited plunged 6.4% to Rs 30.75 after the company began qualified institutional placement to raise nearly Rs 3,500 crore.

Lanco Infratech Limited climbed 2.3% to Rs 12.09 and the company is in negotiations to sell stakes in three power plants to its Malaysian partner, Genting.

LIC Housing Finance Limited slid 0.9% to Rs 246 on the media reports that the company plans to raise nearly $36.85 million in two-years.

Reliance Industries Limited jumped 3.1% to Rs 875.35 and the company with its two partners, BP and Niko Resources plan to invest over $5 billion in three-to-five years in KG-D6 block located in the Arabian Sea off the east coast.

Seshasayee Paper and Boards Limited climbed 6.6% to Rs 234.45 after net profit in the third quarter surged 73.2% to Rs 8.11 crore.

Thomas Cook (India) Limited rose 0.4% to Rs 54.50 after net profit in the fourth quarter net profit declined 25.5% to Rs 3.10 crore.

Walchandnagar Industries Limited gained 0.9% to Rs 70.05 and third quarter net loss widened to Rs 16.92 crore compared to Rs 6.08 crore.

Wallfort Financial Services Limited jumped 4.2% to Rs 24.80 after the company reported third quarter net swung to a profit of Rs 2.58 crore from net loss of Rs 2.91 crore a year ago period.

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