Market Updates

India Movers: Amtek India, Infosys, Polaris Financial, SBI, UBI, Zensar

Mukesh Buch
18 Mar, 2014
New York City

    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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