Market Updates

India Movers: GVK Power, Nitin Fire, RCapital, T&R, TCL

Mukesh Buch
27 Jun, 2014
New York City

    GVK Power is exploring options to reduce debt by selling equity stakes in businesses. Sumitomo Mitsui Trust may acquire 10% stake in RCapital valued at $400 million. Transformers & Rectifiers secured an order for Rs 161 crore from GETCO.

[R]6:00 PM Mumbai – GVK Power is exploring options to reduce debt by selling equity stakes in businesses. Sumitomo Mitsui Trust may acquire 10% stake in RCapital valued at $400 million. Transformers & Rectifiers secured an order for Rs 161 crore from GETCO.[/R]

The Sensex Index gained 37.25 to close at 25,099.92 The CNX Nifty rose 15.60 to 7,508.80. For the week, Sensex inched lower to 0.02%.

Gainers & Losers

GVK Power and Infrastructure Ltd jumped 2.7% to Rs 18.90 and the company is exploring options to reduce its debt by selling equity stakes in some of its businesses.

Nitin Fire Protection Industries Limited climbed 3.6% to Rs 75.45 after the company won an order worth Rs 250 crore from Abu Dhabi Airport.

Nelco Limited gained 2.7% to Rs 57.90 after the Bombay High Court judgment the company received Rs 13.03 crore from Jawaharlal Nehru Port Trust.

Reliance Capital Limited increased 1.8% to Rs 634.95 on media reports that Japan-based Sumitomo Mitsui Trust Holdings Inc may acquire 10% stake valued at $400 million.

Transformers & Rectifiers (India) Ltd soared 4.9% to Rs 197.10 and the company secured an order for Rs 161 crore from Gujarat Energy Transmission Corporation.

Tata Communications Limited rose 1% to Rs 379.75 and the company intends to delist its American Depository Shares from the New York Stock Exchange.

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Earnings

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