India Movers: ITC, NMDC, Pratibha Ind, RECL, SPML Infra, Strides Arcolab

Mukesh Buch
28 Aug, 2013
New York City

ITC plans to spin-off non-engineering business. NMDC acquired exploration licence from Australia based TNG Ltd. Pratibha Ind secured contract worth Rs 231 crore. RECL plans to raise Rs 5,000 crore through tax-free bonds.

[R]6:00 PM Mumbai – ITC plans to spin-off non-engineering business. NMDC acquired exploration licence from Australia based TNG Ltd. Pratibha Ind secured contract worth Rs 231 crore. RECL plans to raise Rs 5,000 crore through tax-free bonds.[/R]

The Sensex Index rose 28.07 to close at 17,996.15 The CNX Nifty slid 2.45 to close at 5,285.

Gainers & Losers

Dhanlaxmi Bank Limited slipped 1.8% to Rs 29.30 after the bank raised Rs 37.75 crore through the sale of 7.55 million share of Rs 10 each with a premium of Rs 40 per share.

ITC Limited rose 0.2% to Rs 297.95 after the company spin-off it non-engineering business Wimco.

Info Edge India Ltd gained 1.3% to Rs 300 after the Singapore based Nalanda Capital through its Nalanda India Equity Fund acquires 1.76 million shares for Rs 51.2 crore.

NMDC Limited jumped 2.9% to Rs 115.95 after the Australian subsidiary acquire exploration licence for zinc, lead and silver project from TNG Ltd in north Australia.

Pratibha Industries Limited declined 2.9% to Rs 18.30 after the company secured contract worth Rs 230.90 crore for water projects in Rajasthan.

Rural Electrification Corporation Limited slid 0.1% to Rs 171.60 and the company plans to raise Rs 5,000 crore through issue of tax free bonds.

SPML Infra Limited rose 0.3% to Rs 29.40 and the company won two orders worth Rs 1,802.10 crore from South Bihar Power Distribution Co. Ltd. of Bihar and Public Health Engineering Department of Rajasthan.

Strides Arcolab Limited surged 7.1% to Rs 889.05 and the Foreign Investment Promotion Board approved the proposal from the U.S. based Mylan Inc for Rs 5,168 crore to acquire Agila Specialties Pvt Ltd.