Market Updates
Kotak Mahindra Net Climbs 23%, IL&FS Wins Two Contracts
Mukesh Buch
20 Nov, 2014
New York City
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Alok Industries sold a land parcel for Rs 2,000 crore and use proceeds to reduce debt. IL&FS won two contracts worth Rs 239.6 crore from Paschimanchal Vidhyut Vitran Nigam. Kotak Mahindra quarterly net soared 23%. NTPC plans to set up 2,400 megawatt thermal power plant in Odisha.
[R]6:00 PM Mumbai – Alok Industries sold a land parcel for Rs 2,000 crore and use proceeds to reduce debt. IL&FS won two contracts worth Rs 239.6 crore from Paschimanchal Vidhyut Vitran Nigam. Kotak Mahindra quarterly net soared 23%. NTPC plans to set up 2,400 megawatt thermal power plant in Odisha.[/R]
The Sensex Index edged up 34.71 or 0.1% to close at 28,067.56. The CNX Nifty added 19.60 or 0.2% to 8,401.90.
Gainers & Losers
Alok Industries Limited, the fabric apparel provider jumped 4.3% to Rs 11.63 after the company sold a land parcel for Rs 2,000 crore and use proceeds to reduce debt.
Indiabulls Securities Limited, the stock broker surged 9.2% to Rs 27.30 after subsidiary acquired 10 acres commercial complex for Rs. 600 crore in Chennai.
IL&FS Engineering and Construction Company Limited, the infrastructure developer slipped 2.1% to Rs 66.35 after the company won two contracts worth Rs 239.6 crore from Paschimanchal Vidhyut Vitran Nigam.
Kotak Mahindra Bank Limited surged 7.3% to Rs 1,157.05 and the largest private bank said net in the second-quarter climbed 23.2% to Rs 717.93 crore.
Total revenues jumped 9.6% to Rs 3,268.67 crore.
NTPC Limited, the power generation company dropped 1.3% to Rs 142.20 and the company plans to set up 2,400 megawatt thermal power plant in Odisha.
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