Sensex in India Eases, More Coal Mining Rights Awards

Mukesh Buch
18 Mar, 2015
New York City

Ambuja Cements won coal mining rights in Chhattisgarh. Madhucon Projects received new road project order worth ₹397 crore in Tamil Nadu. Wipro acquired a minority stake in Drivestream Inc. for $5 million.

[R]6:00 PM Mumbai – Ambuja Cements won coal mining rights in Chhattisgarh. Madhucon Projects received new road project order worth ₹397 crore in Tamil Nadu. Wipro acquired a minority stake in Drivestream Inc. for $5 million.[/R]

Stocks in Mumbai traded lower ahead of U.S. Fed rate decision and electric power producers, software services providers and infrastructure contractors led the decliners.

Rupee slid 1 paisa to 62.69 against one dollar.

The Sensex Index slipped 114.26 or 0.4% to close at 28,622.12. The CNX Nifty fell 37.40 or 0.4% to 8,685.90.

Gainers & Losers

Ambuja Cements Ltd dropped 2.1% to ₹252.75 after the cement maker won the Gare-Palma-IV/8 coal block rights in Chhattisgarh at a price of ₹2,291 per metric ton.

Bhushan Steel Limited fell 0.3% to ₹81.05 and the steel producer’s lenders are in talks to restructure long-term loans of about ₹23,000 crore or $3.7 billion.

Jindal Steel & Power Limited increased 0.9% to ₹175.55 after the steel producer said government may reject the company''s bids for two coal blocks in Chhattisgarh.

Madhucon Projects Limited jumped 4.9% to ₹58.05 after the construction company received new road project order worth ₹397 crore from National Highway Authority of India for the project work in Tamil Nadu.

Wipro Limited decreased 1.9% to ₹630.50 after the third largest software developer acquired a minority stake in Drivestream Inc. for $5 million.