Sensex in India Plunges 1.6% on Global Worries

Mukesh Buch
23 Sep, 2014
New York City

Bajaj Electricals won contract worth Rs.108.63 crore. EIL secured a consultancy contract from Assam Petrochemicals. IFCI divest its stake in Tourism Finance Corp. Sunil Hitech forecasted revenue of fiscal 2015 of about Rs 2,200 crore.

[R]6:00 PM Mumbai – Bajaj Electricals won contract worth Rs.108.63 crore. EIL secured a consultancy contract from Assam Petrochemicals. IFCI divest its stake in Tourism Finance Corp. Sunil Hitech forecasted revenue of fiscal 2015 of about Rs 2,200 crore.[/R]

The Sensex Index declined 424.37 or 1.6% to close at 26,782.37 The CNX Nifty dropped 128.75 to 8,017.55.

Gainers & Losers

Bajaj Electricals Ltd dropped 2.6% to Rs 276.85 after the diversified engineering company won a turnkey contract for Rs108.63 crore from Maharashtra State Electricity Transmission Co. Ltd.

Engineers India Limited declined 2.6% to Rs 245.85 after the company secured a consultancy contract from Assam Petrochemicals.

IFCI Limited rose 0.4% to Rs 34.50 after the company plans to divest its stake in Tourism Finance Corporation of India in the next fiscal year.

Pidilite Industries Limited gained 0.6% to Rs 395.80 and the company said it has completed the acquisition of the adhesive business of Bluecoat.

Piramal Enterprises Limited increased 0.3% to Rs 765.30 after the company intends to acquire its road assets from Hindustan Construction Company.

Sunil Hitech Engineers Limited surged 5% to Rs 137.85 after the company forecasted revenue for the fiscal 2015 of about Rs 2,200 crore and added order backlog is around Rs 3,600 crore.

Tech Mahindra Limited fell 0.1% to Rs 2,468.35 and the company said it was selected by Finland-based Ahlstrom to manage its IT operations.