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Market Update

Software and Pharma Exporters Lead Sensex Advance in Mumbai

Author: Mukesh Buch
Last Update: 1:09 PM ET August 19 2015

6:00 PM Mumbai – Generic drug makers and software services exporters led the gainers in Mumbai trading. DLF plans to sell its land parcel in Kochi. ICICI Bank acquired 9% stake in Karuturi Global. Tata Elxsi profit surged 71% on 28% increase in revenues.

Stocks in Mumbai rebounded after two days of losses and pharmaceuticals and software exporters led the gainers on the expectations of rising sales.

Rupee strengthened 5 paisa to 65.26 against one U.S. dollar.

The Sensex Index increased 100.10 or 0.4% to close at 27,931.64. The CNX Nifty rose 28.60 or 0.4% to 8,495.15.

Gainers & Losers

Aurobindo Pharma Ltd jumped 4.3% to ₹823.50 after the natural and ayurvedic medicine maker plans to construct three formulation plants in Andhra Pradesh and Telangana.

DLF Limited fell 0.7% to ₹127.10 after the real estate developer plans to sell its land parcel in Kochi for about ₹111 crore.

Glenmark Pharmaceuticals Ltd. gained 3.4% to ₹1,200.45 after the generic drug maker received approval from the U.S. Food & Drug Administration for the sale of generic version of Bayer’s Yaz contraceptive tablets.

Infosys Limited rose 0.9% to ₹1,175.05 after the software developer received an order from the Fidelity Bank of Nigeria to upgrade its core banking platform.

Jindal Saw Limited decreased 1.6% to ₹77.10 after the company received shareholders’ approval to raise up to ₹3,000 crore.

Karuturi Global Limited declined 4.9% to ₹3.10 after the florist said that the ICICI Bank acquired 8.89% stake in the company for ₹25 crore.

Tata Elxsi Limited advanced 2.9% to ₹2,193.05 after net in the first-quarter surged 71% to ₹35.72 crore.

Total revenues in the quarter jumped 27.7% to ₹24.35 crore.

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