Market Updates
NTPC Plans $2 B Plants Investments, Indian Hotels Sells Marrakech Stake
Mukesh Buch
11 Sep, 2014
New York City
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Cox & Kings divested its subsidiary Holidaybreak to Homair Vacances for
[R]6:00 PM Mumbai – Cox & Kings divested its subsidiary Holidaybreak to Homair Vacances for £89 million. IDFC offered launched Rs. 2,000 crore institutional equity placement today. Indian Hotels plans to sell its stake in Morocco hotel. NTPC invest Rs 10,571 crore in two thermal plants.[/R]
The Sensex Index fell 61.54 or 0.2% to close at 26,995.87 The CNX Nifty slid 8.40 to 8,085.70.
Gainers & Losers
Cox & Kings Ltd increased 1.9% to Rs 305.85 after the company sold its camping division Holidaybreak to Homair Vacances for £89.2 million or Rs 692 crore.
The company also plans to raise up to Rs 350 crore via through a qualified institutional placement and cut its large debt of Rs 5,400 crore.
IDFC Ltd climbed 3.5% to Rs 150.05 after the company launched an institutional share placement to raise as much as Rs. 2,000 crore.
The Indian Hotels Company Limited jumped 3% to Rs 100.70 and the luxury hotel operator divested its stake in Taj Palace Marrakech in Morocco in just one year.
NTPC Limited rose 0.4% to Rs 140.05 after the company’s board approved investment of about Rs 10,571 crore for two thermal plant projects.
State Bank of India gained 1.9% to Rs 2,601.40 and the bank plans to roll out an employee stock option scheme for its more than 2,19,000 employees.
Sun Pharmaceutical Industries Limited declined 4.3% to Rs 822.80 and the U.S. drug regulator conducted a surprise inspection of the Halol plant in Gujarat.
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