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Market Update

Tamil Nadu Awards $1.3 B Power Plant Contract to BHEL

Author: Mukesh Buch
Last Update: 9:42 AM ET October 09 2014

6:00 PM Mumbai Ahluwalia Contracts jumped after securing new orders worth Rs 178 crore. BHEL won $1.3 billion contract to set up thermal power project in Tamil Nadu. GVK Power secured an environmental clearance to build its coal project in Australia. IndiGo net declined 60%.

The Sensex Index climbed 390.49 or 1.5% to close at 26,637.28 The CNX Nifty jumped 117.85 to 7,960.55.

Gainers & Losers

Ahluwalia Contracts India Ltd jumped 4.3% to Rs 156.50 after the company secured new orders worth Rs 178 crore for construction of housing project and electrical works.

Bharat Heavy Electricals Limited surged 8.4% to Rs 218.85 after the company won a $1.28 billion contract to set up 1,320 megawatts thermal power plant in Tamil Nadu.

GVK Power and Infrastructure Ltd increased 2.9% to Rs 10 after the subsidiary GVK Hancock, secured an environmental clearance to proceeds its coal project in Australia after six-years.

Hindalco Industries Ltd soared 6% to Rs 157.75 after the U.S.-based aluminum producer Alcoa Inc reported net income in the third-quarter surged 521% to $149 million from $24 million a year ago period.

IndiGo, the airline company reported net profit in the first-quarter ending in March declined 60% to Rs 317 crore and revenue climbed 17.5% to Rs 11,117 crore.

Ramco Systems Ltd climbed 5% to Rs 455.45 after the company and its subsidiaries won three orders worth $5 million.

Viceroy Hotels Ltd soared 7.1% to Rs 20.35 after the said it plans to sell its entire 40% stake in the Renaissance Hotel project Bangalore for around Rs 100 crore.

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