Market Updates
India Movers: Ashok Leyland, Cairn India, Indiabulls, Tata Motors, UPL
Mukesh Buch
20 Jun, 2014
New York City
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Cairn India plans to invest $200 million in Rajasthan. Indiabulls buys property worth
[R]6:00 PM Mumbai – Cairn India plans to invest $200 million in Rajasthan. Indiabulls buys property worth £155 million in a prime location in London, UK. Tata Motors invested £200 million in the UK. UPL sold its entire stake in its Brazilian subsidiary to Italy-based Sipcam.[/R]
The Sensex Index slipped 96.29 or 0.4% to close at 25,105.51 The CNX Nifty fell 29.25 to 7,511.45. For the week, Sensex slid 0.5%.
Gainers & Losers
Ashok Leyland Ltd slipped 1.5% to Rs 32.65 after the company signed a consortium agreement with Nexter Systems and Larsen & Toubro Ltd. to collaborate for the Mounted Gun System artillery program for the Indian Army.
Cairn India Limited gained 1.1% to Rs 370.70 and the company plans to invest $200 million in the next three years to develop natural gas fields in Rajasthan.
Indiabulls Real Estate Ltd rose 0.3% to Rs 92.50 after the company invested £155 million or $264 million or Rs 1,550 crore at a prime location in ritzy area Mayfair of London.
Mahindra & Mahindra Fin. Services Ltd fell 0.9% to Rs 272.65 after it received shareholder approval to increase borrowing limit to Rs 45,000 crore.
Tata Motors Ltd slid 0.4% to Rs 436.85 after the company announced an investment plan of £200 million at its Halewood plant in the UK to develop new SUV Discovery Sport.
UPL Ltd declined 3.2% to Rs 313.10 on report the company has sold its entire stake of 50% of its Brazilian subsidiary Sipcam UPL Brasil S.A. to Italy-based Sipcam S.p.A.
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