India Movers: Ashok Leyland, Coal India, L&T, Thomas Cook, Wipro

Mukesh Buch
18 Mar, 2013
New York City

Ashok Leyland sold stake in IndusInd Bank controlled by Hinduja group. Indian government plans to sell 10% stake in Coal India. L&T plans to divest up to 20% stake in infrastructure unit to raise $500 million. Thomas Cook won an approval for secondary offering.

[R]6:00 PM Mumbai – Ashok Leyland sold stake in IndusInd Bank controlled by Hinduja group. Indian government plans to sell 10% stake in Coal India. L&T plans to divest up to 20% stake in infrastructure unit to raise $500 million. Thomas Cook won an approval for secondary offering.[/R]

The Sensex Index slumped 134.36 or 0.7% to close at 19,293.20 The CNX Nifty slipped 37.35 to close at 5,835.25.

Gainers & Losers

Ashok Leyland Limited gained 0.7% to Rs 22.80 after the automotive company sold 50,00,000 shares of private lender IndusInd Bank, valued Rs 216 crore.

Coal India Limited dropped 2.5% to Rs 302.70 after the report government is planning to sell 10% stake in the company for Rs 18,000 crore.

Dhanlaxmi Bank Limited fell 0.9% to Rs 50.20 after the bank issued 85,00,000 shares and raised Rs 51 crore.

Indian Oil Corporation Limited slipped 2.2% to Rs 309.85 after the petrol prices cut by Rs 2 a litre, the sharpest fall in in nine months.

JSW Steel Limited decreased 1.9% to Rs 686.60 after the iron and steel producer suspended expansion plans in Karnataka due to shortages iron ore.

Larsen & Toubro Limited rose 0.1% to Rs 1,508.40 after the company plans to divest up to 20% stake in its infrastructure unit to raise $500 million.

Thomas Cook (India) Limited climbed 3% to Rs 51.25 after receiving the approval from regulatory authority to issue up to 3.43 crore shares.

Wipro Limited slumped 1.7% to Rs 433.55 after the promoters sold stake in the company valued Rs 3,269.57 crore.

Wipro Infotech, a unit of Wipro Ltd, won three year strategic contract from banking group Emirates NBD.