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Market Update

Jagran to Buy Music Broadcast, SpiceJet Seeks Bank Help


Author: Mukesh Buch
ticker.com
Last Update: 9:23 AM ET December 17 2014

Jagran to Buy Music Broadcast, SpiceJet Seeks Bank Help

6:00 PM Mumbai Alstom secured an order worth Rs 151 crore from Rajasthan. Jagran Prakashan plans to buy Music Broadcast Pvt. Ltd. for about Rs 500 crore. SpiceJet may request Indian banks or financial institutions to extend its loans for Rs 600 crore.

The Sensex Index fell 71.31 or 0.3% to close at 26,710.13. The CNX Nifty slid 37.80 or 0.5% to 8,029.80.

Gainers & Losers

Alstom T&D India Limited climbed 2.8% to Rs 432.45 and the power generation company secured an order worth Rs 151 crore from Rajasthan Rajya Vidyut Prasaran Nigam Ltd.

Emami Limited jumped 2.8% to Rs 733.95 after the healthcare company signed an agreement with German-based Hevert-Arzneimittel for manufacturing and marketing of Hevert formulations in India.

Jagran Prakashan Limited declined 5.4% to Rs 132.50 after the newspaper publisher plans to buy Music Broadcast Pvt. Ltd. for about Rs.500 crore.

NMDC Limited advanced 1.7% to Rs 136.75 and the Steel Ministry directed iron ore miner to advance its annual production target to 75 million tons in the fiscal 2018 and 100 metric ton in fiscal 2020.

SpiceJet Limited dropped 5.4% to Rs 13.15 after the Civil Aviation Ministry said it may request Indian banks or financial institutions to extend its loans for Rs 600 crore.

Yesterday, Air India agreed to not immediately request 200 crore rupees payment due from the airline, helping the struggling discount airline to collect more cash and arrange new financing.

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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