India Movers: Canara Bank, Claris Lifesciences, IDBI, Il&FS, Jain Irrigation

Mukesh Buch
21 Mar, 2014
New York City

Canara Bank plans to raise Rs 1,000 crore through a bond offering. Claris Lifesciences set up a stock buyback program of Rs 231 crore. IDBI Bank will sell its entire 19% stake in SHCI. Jain Irrigation allotted 7.5 million shares at Rs 86.30 per share.

[R]6:00 PM Mumbai – Canara Bank plans to raise Rs 1,000 crore through a bond offering. Claris Lifesciences set up a stock buyback program of Rs 231 crore. IDBI Bank will sell its entire 19% stake in SHCI. Jain Irrigation allotted 7.5 million shares at Rs 86.30 per share.[/R]

The Sensex Index rose 13.66 to close at 21,753.75. The CNX Nifty grew 10.10 to close at 6,493.20. For the week, Sensex slid 0.1%.

Gainers & Losers

Canara Bank Ltd gained 0.2% to Rs 239.85 after the bank plans to raise Rs 1,000 crore through a bond offering.

Claris Lifesciences Ltd rose 0.7% to Rs 181.60 after the company will buyback of up to 92,50,000 shares at Rs 250 per share for an amount not exceeding Rs 231.25 crore.

Claris said """"The objective of the buy-back is to return surplus cash to shareholders of the company.""""

Emami Paper Mills Limited surged 10% to Rs 26.95 after the company said that a committee will meet on March 28 to consider preferential allotment of cumulative redeemable non-convertible shares.

IDBI Bank Ltd increased 0.9% to Rs 58.85 after the bank will sell its entire 18.95% stake in Stock Holding Corp. of India Ltd a custodial and depository services provider to IFCI Ltd.

Il&Fs Engineering & Construction Co Ltd jumped 9.1% to Rs 40 after the company won a Rs 69.97 crore contract for the Rapid Metro Rail Gurgaon.

Jain Irrigation Systems Limited gained 1.5% to Rs 58.95 after the company allotted 75,00,000 equity shares at an issue price of Rs 86.30 per share upon conversion of warrants by the promoter group entities.

Mercator Ltd climbed 14.9% to Rs 24.25 after the company acquired a liquefied petroleum gas carrier ship from Varun Shipping Co. Ltd for an undisclosed amount.