Market Updates
India Movers: Gateway Distriparks, MakeMyTrip, REC, SpiceJet
Mukesh Buch
12 Mar, 2014
New York City
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Gateway Distriparks increased its stake to 54.2% in Snowman Logistics. MakeMyTrip sold its 4.5 million shares to raise $115 million. SpiceJet placed an order for 42 Boeing 737 MAX aircraft valued at a list price of $4.4 billion.
[R]6:00 PM Mumbai – Gateway Distriparks increased its stake to 54.2% in Snowman Logistics. MakeMyTrip sold its 4.5 million shares to raise $115 million. SpiceJet placed an order for 42 Boeing 737 MAX aircraft valued at a list price of $4.4 billion.[/R]
The Sensex Index gained 29.80 to close at 21,856.22. The CNX Nifty rose 5 to close at 6,516.90.
Gainers & Losers
Gateway Distriparks Ltd gained 2.1% to Rs 149.50 after the company acquired 54.19% stake in its Snowman Logistics Ltd, a cold chain services company.
Separately, the company bought an additional stake of about 6% in Snowman from Japan-based Nichirei Logistics Corporation for approx Rs 25.9 crore or $4.3 million.
MakeMyTrip Limited, the online travel reservation site sold 40,50,000 shares including stake by its venture capital investors and the management to raise $115 million.
Rural Electrification Corporation Ltd rose 0.7% to Rs 204.20 after the company is in talks with Germany-based KfW to provide fund for renewable energy projects.
SpiceJet Limited climbed 3.3% to Rs 14.61 after the budget airline placed an order for 42 Boeing 737 MAX aircraft worth $4.4 billion at list prices. The delivery will begin in 2018.
Tilaknagar Industries Ltd jumped 2.5% to Rs 56.45 after the company agreed to acquire the entire liquor business from Kolkata-based IFB Agro Industries.
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