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Market Update

NTPC Plans $2 B Plants Investments, Indian Hotels Sells Marrakech Stake

Author: Mukesh Buch
Last Update: 9:18 AM ET September 11 2014

6:00 PM Mumbai – Cox & Kings divested its subsidiary Holidaybreak to Homair Vacances for £89 million. IDFC offered launched Rs. 2,000 crore institutional equity placement today. Indian Hotels plans to sell its stake in Morocco hotel. NTPC invest Rs 10,571 crore in two thermal plants.

The Sensex Index fell 61.54 or 0.2% to close at 26,995.87 The CNX Nifty slid 8.40 to 8,085.70.

Gainers & Losers

Cox & Kings Ltd increased 1.9% to Rs 305.85 after the company sold its camping division Holidaybreak to Homair Vacances for £89.2 million or Rs 692 crore.

The company also plans to raise up to Rs 350 crore via through a qualified institutional placement and cut its large debt of Rs 5,400 crore.

IDFC Ltd climbed 3.5% to Rs 150.05 after the company launched an institutional share placement to raise as much as Rs. 2,000 crore.

The Indian Hotels Company Limited jumped 3% to Rs 100.70 and the luxury hotel operator divested its stake in Taj Palace Marrakech in Morocco in just one year.

NTPC Limited rose 0.4% to Rs 140.05 after the company’s board approved investment of about Rs 10,571 crore for two thermal plant projects.

State Bank of India gained 1.9% to Rs 2,601.40 and the bank plans to roll out an employee stock option scheme for its more than 2,19,000 employees.

Sun Pharmaceutical Industries Limited declined 4.3% to Rs 822.80 and the U.S. drug regulator conducted a surprise inspection of the Halol plant in Gujarat.

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