India Movers: 3M India, Manappuram Finance, ONGC, SAIL, SBI, V Mart

Mukesh Buch
20 Mar, 2013
New York City

3M India offer for sell of equity shares. Manappuram Finance said fourth quarter profits may drop. ONGC sign agreement to set up oil terminal costing to $750 million. SBI allots 12.99 million shares to the government. Government approved 10.8% stake sale of SAIL on March 22.

[R]6:00 PM Mumbai – 3M India offer for sell of equity shares. Manappuram Finance said fourth quarter profits may drop. ONGC sign agreement to set up oil terminal costing to $750 million. SBI allots 12.99 million shares to the government. Government approved 10.8% stake sale of SAIL on March 22.[/R]

The Sensex Index slipped 123.91 or 0.6% to close at 18,884.19 The CNX Nifty decreased 51.55 to close at 5,694.40.

Gainers & Losers

3M India Limited slid 0.6% to Rs 3,420 after the company proposed to sell 113,198 equity shares with par value of Rs.10 each on March 21.

Globus Spirits Limited soared 4.4% to Rs 109.25 after the board approved allotment of cumulative compulsorily convertible shares and warrants to raise $13 million.

Manappuram Finance, Ltd. plunged 14.2% to Rs 23.75 after the company said fourth quarter profits may drop on the less than estimated revenue on gold loan portfolios.

Prime Focus, Ltd slipped 0.5% to Rs 41.50 after the film editing company plans to invest $3 million to expand to new markets in Hong Kong, China, Macau and Taiwan.

Oil and Natural Gas Corporation Limited dropped 2.8% to Rs 301.15 after signing an agreement for feasibility of liquid gas import terminal set up at Mangalore costing $500 million to $750 million.

The Mysore Paper Mills Limited rose 0.3% to Rs 4 after the company reported fourth quarter net loss narrowed to Rs 11.57 crore.

Steel Authority of India Limited fell 0.6% to Rs 65.05 after the government approved sale of 10.8% stake in the company through share auction on March 22.

State Bank of India declined 3.9% to Rs 2,117.75 after the bank alloted 12.99 million shares to the government and received Rs 3,004 crore.

Sadbhav Engineering Limited slipped 1.6% to Rs 114 after the company won road construction projects worth Rs 382 crore from National Highways Authority of India.

V Mart Retail Limited dropped 3.6% to Rs 170.65 after net profit in the fourth quarter surged 52.6% to Rs 10.30 crore.