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Market Update

NYSE Sells 4.8% Stake in MCX; Tata, AirAsia in Airline Dea

Author: Mukesh Buch
Last Update: 7:42 AM ET March 07 2013

6:00 PM Mumbai Bank of India raised $170 million from the central government. DLF board approved stock offering. Gitanjali plans to raise $250 million. NYSE Euronext sold 4.79% stake in MCX. Tata Sons and AirAsia won a government approval for its discount carrier investment proposal.

The Sensex Index climbed 160.93 or 0.8% to close at 19,413.54 The CNX Nifty increased 44.70 to close at 5,863.30.

Gainers & Losers

Bank of India slid 0.2% to Rs 314.10 after bank sold 2.21 crore shares at Rs 365.70 a shares on March 6 to Government of India.

DLF Limited climbed 3.6% to Rs 279.35 after the board approved public offering to meet minimum public shareholding requirement.

Elder Pharmaceuticals Ltd jumped 4.6% to Rs 334.95 after the joint venture with Japan''s KOSE Corporation to manufacture and sell cosmetic products for India.

Gitanjali Gems Limited rose 0.6% to Rs 605.65 after the company received shareholders'' approval to raise $250 million through various options.

Multi Commodity Exchange of India Limited dropped 3.9% to Rs 1,016.65 on the media reports that New York Stock Exchange sold its 4.79% stake.

Mahindra & Mahindra Limited gained 0.8% to Rs 885 after the company set Rs 270 a share price for the sale of its 4.02% stake in Mahindra Holidays & Resorts India Ltd.

Rashtriya Chemicals and Fertilizers Limited slipped 1.7% to Rs 43.85 after the central government divest 12.5% stake in the company on March 8.

Tata Motors Limited fell 1.1% to Rs 305.95 after the company lowered production on weak sales.

Today, the Foreign Investment Promotion Board approved an investment proposal from a joint venture between Malaysia based discount carrier AirAsia and Tata Sons.

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