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Market Update

India Movers: BHEL, Crisil, Future Ventures, Shriram, UltraTech

Author: Mukesh Buch
Last Update: 9:18 AM ET August 27 2013

6:00 PM Mumbai Crisil will sell 49% stakes in index ventures with National Stock Exchange. CX Partners agree to buy 28.3% stake of Biba Apparels Rs 300 crore. HUDCO plan to raise $195.28 million via private placement of tax free bonds.

The Sensex Index plummeted 590.05 or 3.2% to close at 17,968.08 The CNX Nifty plunged 189.05 3.5% to close at 5,287.45.

Gainers & Losers

Bharat Heavy Electricals Limited plunged 10.7% to Rs 110.70 and the Cabinet Committee asked the Ministry of Environment and Forests to speed up the approvals for power projects of Rs 50,000 crore.

Crisil Limited slipped 1.2% to Rs 1,118 after the rating agency agreed to sell 49% stake in India Index Services & Products Limited to NSE Strategic Investment Corp for Rs 100 crore.

India Index Services & Products Ltd is the joint venture of Crisil with the National Stock Exchange was setup in 1998 to provide variety of indices and index related services and products.

Future Ventures India Limited plunged 6.1% to Rs 5.87 after the private equity fund CX Partners agree to buy 28.3% stake in the women''s apparel maker Biba Apparels Pvt Ltd for Rs 300 crore.

HUDCO, the government-owned housing construction plans to raise $195.28 million via private placement of tax free bonds.

Shriram City Union Finance Limited slid 0.2% to Rs 898 after the U.S. based private equity firm TPG increased its stake to 22.6% in the company valued at about Rs 1,200 crore.

Srei Infrastructure Finance Limited declined 5.6% to Rs 18.45 and the company raised its benchmark rate by 50 basis points to 18% from 17.5% from September 1.

UltraTech Cement, Ltd dropped 2.4% to Rs 1,554.90 and the company is close to buying Gujarat cement a unit of Jaiprakash Associates for about $564 million.

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