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Market Update

Tata Power to Explore Setting Plants with Russia Fund


Author: Mukesh Buch
ticker.com
Last Update: 9:11 AM ET December 12 2014

6:00 PM Mumbai – Alstom won an order worth 246.20 crore from MSETCL. IL&FS Eng received a contract worth Rs 464 crore from Saudi Binladin Group. Tata Power and Russian Direct Investment Fund agreed to explore setting up power plants in Russia.

The Sensex Index dropped 251.33 or 0.9% to close at 27,350.68. The CNX Nifty slipped 68.80 or 0.8% to 8,224.10.

For the week, Sensex declined 3.9% and CNX Nifty tumbled 3.6%.

Gainers & Losers

Alstom T&D India Limited fell 0.9% to Rs 444.85 and the power generation company won an order worth 246.20 crore from Maharashtra State Electricity Transmission Co. Ltd.

IL&FS Engineering and Construction Company Limited soared 6.6% to Rs 62.10 after the infrastructure developer said Saudi Arabia-based subsidiary received a contract worth Rs 464 crore from Saudi Binladin Group.

Mastek Limited jumped 3.3% to Rs 270.70 and the insurance company’s U.S.- based subsidiary agreed to acquire Agile Technologies.

Pricol Limited advanced 2.7% to Rs 43.90 after the automotive component maker plans to acquire 99.99% of stake an auto component maker in Brazil.

Suven Life Sciences Limited climbed 4.1% to Rs 218.55 after the bulk chemical and pharmaceutical compounds maker secured a five-product patents from Israel, Japan, China and New Zealand for new chemical entities.

Siemens Limited slipped 1.9% to Rs 885.45 and the diversified company won an order worth Rs 317 crore from Bihar Grid Company Ltd.

Tata Power Company Limited slid 0.7% to Rs 84.20 and the power producer signed a memorandum of understanding with Russian Direct Investment Fund to develop investment opportunities in the energy sector in Russia.

Wipro Limited decreased 0.5% to Rs 543.60 and the third-largest software firm said its trustee’s plans to sell more than 18 lakh shares worth Rs 100 crore.

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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