Nippon Life Raises RCapital AM Stake; MRF, Siemens Net Soar

Mukesh Buch
26 Nov, 2014
New York City

GMR Infrastructure issued lowest bidder for freight corridor project worth Rs 5,080 crore. FTIL agreed to sell its 5% stake in MCX. MRF and Siemens quarterly net surged. Nippon Life Insurance agreed to raise its stake from 26% to 49% in Reliance Capital Asset Management.

[R]6:00 PM Mumbai – GMR Infrastructure issued lowest bidder for freight corridor project worth Rs 5,080 crore. FTIL agreed to sell its 5% stake in MCX. MRF and Siemens quarterly net surged. Nippon Life Insurance agreed to raise its stake from 26% to 49% in Reliance Capital Asset Management.[/R]

The Sensex Index increased 48.14 or 0.2% to close at 28,386.19. The CNX Nifty added 12.65 or 0.2% to 8,475.75.

Gainers & Losers

GMR Infrastructure, Ltd. slid 0.3% to Rs 20.10 after the infrastructure service provider was selected as the lowest bidder for the eastern dedicated freight corridor project worth Rs 5,080 crore.

Financial Technologies (India) Limited climbed 4.5% to Rs 189.05 after the stock market operation software developer and exchange operator agreed to sell its 5% stake for about Rs 88 crore in MCX Stock Exchange.

MRF Limited jumped 4.1% to Rs 33,010.65 and the tire maker said net in the fourth-quarter surged 72.1% to Rs 316.91 crore. Net revenues rose 7.15% to Rs 3,386 crore.

Reliance Capital Ltd. soared 4.2% to Rs 501.45 and the financial service provider said Japan-based Nippon Life Insurance agreed to raise its stake from 26% to 49% in Reliance Capital Asset Management.

Steel Authority of India Ltd climbed 3.7% to Rs 87.35 and the steel producer plans to increase installed capacity of 10 million tons per year in Rourkela plant.

Siemens Limited slipped 1.2% to Rs 903.35 after the diversified conglomerate reported net in the fourth-quarter soared 192.8% to Rs 436.78 crore.

Total revenues slid 0.7% to Rs 3,250.29 crore.