India Movers: Hathway, KEC, L&T, Power Grid, Renuka Sugars, RIL

Mukesh Buch
29 Aug, 2013
New York City

Hathway Cable plans to raise $15 million. KEC Intl to sell 7.5 acre land at Thane for $33 million. L&T and consortium won order for $170 million from ONGC. Renuka Sugars sell stake in Brazilian unit worth $1.3 billion. RIL won approval to invest $3.2 billion to expand oil exploration.

[R]6:00 PM Mumbai – Hathway Cable plans to raise $15 million. KEC Intl to sell 7.5 acre land at Thane for $33 million. L&T and consortium won order for $170 million from ONGC. Renuka Sugars sell stake in Brazilian unit worth $1.3 billion. RIL won approval to invest $3.2 billion to expand oil exploration.[/R]

The Sensex Index climbed 404.89 or 2.3% to close at 18,401.04 The CNX Nifty jumped 124.05 or 2.4% to close at 5,409.05.

Gainers & Losers

Hathway Cable and Datacom Limited slid 0.3% to Rs 261.25 and the company plans to raise Rs 100 crore or $15 million from three foreign institutional investors.

In July, Providence Equity Partners invested $18.5 million in the company.

KEC International Limited dropped 2% to Rs 24 after its subsidiary RPG Cables Ltd plan to sell its 7.5 acre land parcel at Thane in Mumbai to raise $33 million.

Larsen & Toubro Limited jumped 2.5% to Rs 722.15 after the consortium of the company and Pipavav Defence and Offshore Engineering Company won order for $170 million from ONGC.

Power Grid Corporation of India Limited climbed 3.1% to Rs 97.05 after the board approved two investment proposals worth Rs 209.13 crore.

Shree Renuka Sugars Limited gained 1.3% to Rs 15.30 after the sugar refiner plans to sell its stake in Brazilian unit worth $1.3 billion.

Reliance Industries Ltd soared 4.2% to Rs 845.35 and its partner BP Plc won approval to invest $3.18 billion in R-Series gas field in the flagging KG-D6 block.

Readymade Steel India Ltd advanced 3.7% to Rs 71 after its subsidiary KH Foges Pte. Limited Singapore won S$22 million contract from Ministry of Health, Singapore.