Market Updates

India Movers: DCM Shriram, Indian Hotels, Parsvnath, PTC India, TTK

Mukesh Buch
25 Jun, 2014
New York City

    DCM Shriram sold its textile spinning mill in Rajasthan. Indian Hotels plans to raise Rs 1,000 crore through a convertible debenture issue. Parsvnath Developers expects to raise $168 million through land sales.

[R]6:00 PM Mumbai – DCM Shriram sold its textile spinning mill in Rajasthan. Indian Hotels plans to raise Rs 1,000 crore through a convertible debenture issue. Parsvnath Developers expects to raise $168 million through land sales.[/R]

The Sensex Index slipped 55.16 or 0.2% to close at 25,313.74 The CNX Nifty fell 10.95 to 7,569.25.

Gainers & Losers

DCM Shriram Ltd rose 0.3% to Rs 157.60 after the company sold its textile spinning mill in Rajasthan for $2.9 million or Rs 17.12 crore.

The Indian Hotels Company Limited surged 5.2% to Rs 111.10 and the company plans to raise Rs 1,000 crore through a convertible debenture offering with a conversion price at Rs 55.

Parsvnath Developers Limited climbed 4.9% to Rs 36.25 and the company plans to raise Rs 1,000 crore or $167.5 million in next 18 months through the sale of its land in southern and western India.

PTC India Ltd increased 1.7% to Rs 94.20 on media reports that the company is planning to enter power generation business.

Shree Renuka Sugars Limited dropped 2.7% to Rs 29 after the company denied that it plans to buy out minority shareholders in its Brazil based Renuka do Brasil S/A.

TTK Prestige Limited gained 0.8% to Rs 3,688 after the company forecasted revenues in the current fiscal year to rise 15% on the launch of a new low cost water purifier.

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Earnings

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