Market Updates
India Movers: Amtek India, Infosys, Polaris Financial, SBI, UBI, Zensar
Mukesh Buch
18 Mar, 2014
New York City
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Amtek India acquired Germany-based Kuepper Group. Polaris Financial decided to spin off its products business. Zensar won multimillion dollar deals in the United States and Europe.
[R]6:00 PM Mumbai – Amtek India acquired Germany-based Kuepper Group. Polaris Financial decided to spin off its products business. Zensar won multimillion dollar deals in the United States and Europe.[/R]
The Sensex Index rose 22.81 to close at 21,832.61. The CNX Nifty gained 12.45 to close at 6,516.65.
Gainers & Losers
Amtek India Ltd surged 19.9% to Rs 77.50 after the company acquired Germany-based Kuepper Group for an undisclosed amount through its wholly-owned subsidiary Amtek Kuepper GmBH.
Infosys Ltd slipped 1.2% to Rs 3,349.25 and the company secured long term application development service contracts from Volvo Car Corporation.
Polaris Financial Technology Ltd soared 11.6% to Rs 152.80 after the company decided to spin off its products business.
State Bank of India jumped 2.7% to Rs 1,698.40 after the media report that the bank plans to sell approx Rs 5,000 crore of its Rs 67,799 crore non-performing assets to asset reconstruction companies before the end of the month.
The state-run bank had reported 5.73% of its assets as bad loans in the December quarter.
United Bank of India climbed 3.1% to Rs 27.85 after the bank decided to reduce the base rate from 10.50% to 10.25% from 24 March.
Zensar Technologies Limited gained 3.4% to Rs 399.15 after the company won multimillion dollar deals in the United States and Europe.
Annual Returns
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Earnings
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