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Market Update

Kotak Mahindra Net Climbs 23%, IL&FS Wins Two Contracts


Author: Mukesh Buch
ticker.com
Last Update: 9:15 AM ET November 20 2014

6:00 PM Mumbai Alok Industries sold a land parcel for Rs 2,000 crore and use proceeds to reduce debt. IL&FS won two contracts worth Rs 239.6 crore from Paschimanchal Vidhyut Vitran Nigam. Kotak Mahindra quarterly net soared 23%. NTPC plans to set up 2,400 megawatt thermal power plant in Odisha.

The Sensex Index edged up 34.71 or 0.1% to close at 28,067.56. The CNX Nifty added 19.60 or 0.2% to 8,401.90.

Gainers & Losers

Alok Industries Limited, the fabric apparel provider jumped 4.3% to Rs 11.63 after the company sold a land parcel for Rs 2,000 crore and use proceeds to reduce debt.

Indiabulls Securities Limited, the stock broker surged 9.2% to Rs 27.30 after subsidiary acquired 10 acres commercial complex for Rs. 600 crore in Chennai.

IL&FS Engineering and Construction Company Limited, the infrastructure developer slipped 2.1% to Rs 66.35 after the company won two contracts worth Rs 239.6 crore from Paschimanchal Vidhyut Vitran Nigam.

Kotak Mahindra Bank Limited surged 7.3% to Rs 1,157.05 and the largest private bank said net in the second-quarter climbed 23.2% to Rs 717.93 crore.

Total revenues jumped 9.6% to Rs 3,268.67 crore.

NTPC Limited, the power generation company dropped 1.3% to Rs 142.20 and the company plans to set up 2,400 megawatt thermal power plant in Odisha.

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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